Stifel Financial Corp Lowers Position in California Resources Co. (NYSE:CRC)

Stifel Financial Corp trimmed its position in shares of California Resources Co. (NYSE:CRC - Free Report) by 72.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,220 shares of the oil and gas producer's stock after selling 21,156 shares during the period. Stifel Financial Corp's holdings in California Resources were worth $431,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of California Resources by 61.5% in the 3rd quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer's stock valued at $51,000 after purchasing an additional 371 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in California Resources in the third quarter valued at approximately $70,000. KBC Group NV grew its stake in shares of California Resources by 29.1% during the third quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer's stock worth $100,000 after buying an additional 431 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of California Resources by 9.4% during the third quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer's stock worth $169,000 after buying an additional 276 shares in the last quarter. Finally, Atria Investments Inc bought a new position in shares of California Resources in the 3rd quarter valued at $209,000. Institutional investors and hedge funds own 97.79% of the company's stock.

California Resources Stock Down 1.9 %

NYSE:CRC traded down $0.97 during trading hours on Friday, hitting $50.23. 495,678 shares of the company traded hands, compared to its average volume of 830,137. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The company has a market cap of $4.59 billion, a PE ratio of 7.91, a PEG ratio of 1.35 and a beta of 1.01. The firm's 50-day simple moving average is $54.93 and its 200-day simple moving average is $52.32. California Resources Co. has a one year low of $43.09 and a one year high of $60.41.

California Resources (NYSE:CRC - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.62. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $973.13 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. California Resources's quarterly revenue was up 194.1% compared to the same quarter last year. During the same period last year, the company posted $1.02 earnings per share. Equities analysts predict that California Resources Co. will post 3.58 earnings per share for the current year.

California Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, December 2nd. California Resources's dividend payout ratio is currently 24.41%.

Insider Activity at California Resources

In other news, EVP Omar Hayat sold 16,016 shares of California Resources stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total value of $883,762.88. Following the completion of the transaction, the executive vice president now directly owns 30,940 shares in the company, valued at approximately $1,707,269.20. The trade was a 34.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Noelle M. Repetti sold 8,770 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.75, for a total value of $488,927.50. Following the sale, the vice president now directly owns 8,531 shares in the company, valued at $475,603.25. This trade represents a 50.69 % decrease in their position. The disclosure for this sale can be found here. 0.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

CRC has been the topic of several research reports. StockNews.com upgraded California Resources from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Citigroup boosted their target price on shares of California Resources from $63.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. initiated coverage on California Resources in a research note on Friday, December 20th. They issued a "neutral" rating and a $63.00 target price for the company. Barclays upped their price target on California Resources from $55.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 3rd. Finally, UBS Group started coverage on California Resources in a research note on Wednesday, October 16th. They issued a "buy" rating and a $68.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, California Resources presently has a consensus rating of "Moderate Buy" and an average price target of $66.09.

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.