Swiss National Bank Boosts Stock Position in California Resources Co. (NYSE:CRC)

Swiss National Bank boosted its position in California Resources Co. (NYSE:CRC - Free Report) by 12.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,900 shares of the oil and gas producer's stock after purchasing an additional 13,700 shares during the period. Swiss National Bank owned about 0.18% of California Resources worth $6,396,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CRC. Point72 Asset Management L.P. lifted its stake in California Resources by 2,615.2% in the second quarter. Point72 Asset Management L.P. now owns 843,011 shares of the oil and gas producer's stock valued at $44,865,000 after purchasing an additional 811,963 shares during the last quarter. Samlyn Capital LLC purchased a new stake in shares of California Resources during the second quarter worth $28,566,000. American Century Companies Inc. lifted its position in shares of California Resources by 18.1% during the second quarter. American Century Companies Inc. now owns 1,631,432 shares of the oil and gas producer's stock worth $86,825,000 after acquiring an additional 250,367 shares in the last quarter. SIR Capital Management L.P. purchased a new stake in shares of California Resources during the second quarter worth $11,820,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of California Resources by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,576,306 shares of the oil and gas producer's stock worth $190,328,000 after acquiring an additional 165,629 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

California Resources Stock Up 0.9 %

CRC opened at $58.56 on Wednesday. The stock has a market cap of $3.98 billion, a PE ratio of 9.22, a P/E/G ratio of 1.44 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. California Resources Co. has a 52 week low of $43.09 and a 52 week high of $60.41. The business's fifty day simple moving average is $54.00 and its 200 day simple moving average is $51.15.

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

California Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.3875 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.55 dividend on an annualized basis and a yield of 2.65%. California Resources's dividend payout ratio is presently 24.41%.

Insider Activity at California Resources

In other California Resources news, CEO Francisco Leon sold 7,500 shares of the company's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $49.18, for a total transaction of $368,850.00. Following the completion of the sale, the chief executive officer now directly owns 166,357 shares in the company, valued at $8,181,437.26. This represents a 4.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Noelle M. Repetti sold 8,770 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total transaction of $488,927.50. Following the sale, the vice president now owns 8,531 shares of the company's stock, valued at approximately $475,603.25. The trade was a 50.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,270 shares of company stock valued at $1,387,778 over the last 90 days. 0.63% of the stock is owned by insiders.

Analysts Set New Price Targets

CRC has been the topic of several recent research reports. StockNews.com upgraded California Resources from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Royal Bank of Canada restated an "outperform" rating and set a $65.00 target price on shares of California Resources in a research report on Monday, August 12th. Bank of America upgraded California Resources from a "neutral" rating to a "buy" rating and increased their target price for the stock from $57.00 to $65.00 in a research report on Wednesday, August 21st. Jefferies Financial Group started coverage on California Resources in a research report on Thursday, October 24th. They set a "buy" rating and a $64.00 target price on the stock. Finally, Citigroup upped their price target on shares of California Resources from $63.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, September 5th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $66.40.

About California Resources

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.