Quest Partners LLC Takes $499,000 Position in California Resources Co. (NYSE:CRC)

Quest Partners LLC acquired a new stake in shares of California Resources Co. (NYSE:CRC - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,518 shares of the oil and gas producer's stock, valued at approximately $499,000.

Several other institutional investors have also bought and sold shares of CRC. Vanguard Group Inc. lifted its position in California Resources by 4.4% in the first quarter. Vanguard Group Inc. now owns 8,100,283 shares of the oil and gas producer's stock worth $446,326,000 after purchasing an additional 344,043 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of California Resources by 11.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,536 shares of the oil and gas producer's stock valued at $801,000 after buying an additional 1,546 shares during the period. Shell Asset Management Co. boosted its stake in California Resources by 99.8% during the first quarter. Shell Asset Management Co. now owns 6,311 shares of the oil and gas producer's stock valued at $348,000 after buying an additional 3,153 shares in the last quarter. Lazard Asset Management LLC grew its holdings in California Resources by 3.7% during the first quarter. Lazard Asset Management LLC now owns 7,109 shares of the oil and gas producer's stock worth $390,000 after acquiring an additional 253 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in California Resources by 6.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,495 shares of the oil and gas producer's stock worth $2,342,000 after acquiring an additional 2,475 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company's stock.

Analyst Ratings Changes

CRC has been the subject of several research reports. Bank of America upgraded shares of California Resources from a "neutral" rating to a "buy" rating and raised their price objective for the company from $57.00 to $65.00 in a research report on Wednesday, August 21st. StockNews.com upgraded shares of California Resources from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. UBS Group assumed coverage on California Resources in a research report on Wednesday, October 16th. They set a "buy" rating and a $68.00 price objective for the company. Jefferies Financial Group initiated coverage on California Resources in a report on Thursday, October 24th. They issued a "buy" rating and a $64.00 target price on the stock. Finally, Barclays upped their target price on California Resources from $55.00 to $57.00 and gave the company an "equal weight" rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $65.50.

Insider Activity at California Resources

In related news, VP Noelle M. Repetti sold 8,770 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.75, for a total transaction of $488,927.50. Following the completion of the sale, the vice president now directly owns 8,531 shares of the company's stock, valued at $475,603.25. This trade represents a 50.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Francisco Leon sold 7,500 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $49.18, for a total transaction of $368,850.00. Following the sale, the chief executive officer now directly owns 166,357 shares in the company, valued at approximately $8,181,437.26. This represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,270 shares of company stock worth $1,387,778. 0.03% of the stock is owned by corporate insiders.

California Resources Stock Up 0.0 %

NYSE CRC traded up $0.01 during trading on Friday, reaching $59.59. 539,264 shares of the company's stock were exchanged, compared to its average volume of 651,025. The company's fifty day simple moving average is $53.86 and its 200-day simple moving average is $51.08. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $4.04 billion, a PE ratio of 9.38, a P/E/G ratio of 1.48 and a beta of 0.98. California Resources Co. has a fifty-two week low of $43.09 and a fifty-two week high of $60.41.

California Resources (NYSE:CRC - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.62. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $973.13 million. During the same quarter in the prior year, the business earned $1.02 EPS. The company's revenue for the quarter was up 194.1% compared to the same quarter last year. Sell-side analysts predict that California Resources Co. will post 3.42 EPS for the current year.

California Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, December 2nd. California Resources's dividend payout ratio is presently 24.41%.

California Resources Profile

California Resources Corporation operates as an independent oil and natural gas exploration and production, and carbon management company in the United States. The company explores, produces, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities.