Omar Hayat Sells 16,016 Shares of California Resources Co. (NYSE:CRC) Stock

California Resources Co. (NYSE:CRC) EVP Omar Hayat sold 16,016 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $55.18, for a total value of $883,762.88. Following the completion of the sale, the executive vice president now owns 30,940 shares in the company, valued at $1,707,269.20. The trade was a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

California Resources Trading Down 0.6 %

Shares of NYSE:CRC opened at $54.92 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 1.35 and a beta of 1.01. California Resources Co. has a 1-year low of $43.09 and a 1-year high of $60.41. The company has a 50 day moving average price of $55.10 and a 200 day moving average price of $51.95.

California Resources (NYSE:CRC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.62. The business had revenue of $1.35 billion during 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%. The company’s revenue was up 194.1% compared to the same quarter last year. During the same period last year, the company posted $1.02 EPS. On average, research analysts anticipate that California Resources Co. will post 3.58 EPS for the current fiscal year.

California Resources Dividend Announcement

The business also recently declared 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 of this dividend is Monday, December 2nd. This represents a $1.55 dividend on an annualized basis and a yield of 2.82%. California Resources’s dividend payout ratio is currently 24.41%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CRC. Capital One Financial upgraded shares of California Resources to a “strong-buy” rating in a research report on Monday, December 9th. TD Cowen lifted their target price on California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. UBS Group started coverage on California Resources in a report on Wednesday, October 16th. They set a “buy” rating and a $68.00 price target on the stock. StockNews.com upgraded shares of California Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Barclays increased their target price on shares of California Resources from $55.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.40.

Institutional Trading of California Resources

A number of hedge funds have recently bought and sold shares of CRC. Farther Finance Advisors LLC increased its position in shares of California Resources by 9.4% in the third quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock worth $169,000 after acquiring an additional 276 shares in the last quarter. GAMMA Investing LLC grew its position in California Resources by 61.5% during the 3rd quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 371 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in California Resources by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,300 shares of the oil and gas producer’s stock valued at $1,719,000 after purchasing an additional 400 shares during the period. KBC Group NV raised its stake in California Resources by 29.1% during the 3rd quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 431 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of California Resources by 3.1% in the third quarter. Amalgamated Bank now owns 20,406 shares of the oil and gas producer’s stock valued at $1,071,000 after purchasing an additional 605 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

California Resources Company 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.