California Resources Corp (NYSE:CRC) Director Sells $200,000.00 in Stock

California Resources Corp (NYSE:CRC) Director William E. Albrecht sold 10,000 shares of California Resources stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director now owns 102,883 shares in the company, valued at approximately $2,057,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NYSE CRC opened at $19.65 on Friday. California Resources Corp has a twelve month low of $13.48 and a twelve month high of $50.34. The stock has a market cap of $958.92 million, a PE ratio of 11.70 and a beta of 4.40. The business’s 50 day moving average price is $17.82.

California Resources (NYSE:CRC) last posted its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.63 earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.94. California Resources had a net margin of 8.36% and a negative return on equity of 18.81%. The firm had revenue of $690.00 million for the quarter, compared to analysts’ expectations of $635.00 million. During the same period in the previous year, the company posted $0.18 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, research analysts expect that California Resources Corp will post 3.1 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Truvestments Capital LLC purchased a new position in California Resources during the 1st quarter worth approximately $27,000. State of Alaska Department of Revenue purchased a new position in California Resources during the 1st quarter worth approximately $39,000. Teza Capital Management LLC purchased a new position in California Resources during the 1st quarter worth approximately $202,000. Virtu Financial LLC purchased a new position in California Resources during the 1st quarter worth approximately $206,000. Finally, BNP Paribas Arbitrage SA grew its position in California Resources by 55,235.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,407 shares of the oil and gas producer’s stock worth $242,000 after purchasing an additional 9,390 shares in the last quarter. Hedge funds and other institutional investors own 62.80% of the company’s stock.

Several research analysts have issued reports on the stock. Raymond James restated a “neutral” rating and issued a $35.00 price target on shares of Stantec in a research report on Monday, May 13th. Goldman Sachs Group lowered shares of Encana to a “buy” rating in a research report on Friday, April 12th. Mizuho set a $67.00 price target on shares of Walgreens Boots Alliance and gave the stock a “hold” rating in a research report on Thursday, March 28th. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Zacks Investment Research lowered shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. California Resources has a consensus rating of “Hold” and an average price target of $33.33.

California Resources Company Profile

California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. The company sells crude oil, natural gas, and natural gas liquids to marketers, California refineries, and other purchasers that have access to transportation and storage facilities.

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