California Resources Corporation $CRC Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in California Resources Corporation (NYSE:CRC) by 87.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,680 shares of the oil and gas producer’s stock after selling 24,620 shares during the quarter. SG Americas Securities LLC’s holdings in California Resources were worth $255,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CRC. Vanguard Group Inc. raised its holdings in shares of California Resources by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 8,775,097 shares of the oil and gas producer’s stock worth $392,335,000 after acquiring an additional 529,814 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of California Resources by 17.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,181,806 shares of the oil and gas producer’s stock valued at $186,968,000 after acquiring an additional 632,170 shares during the last quarter. State Street Corp increased its position in California Resources by 14.7% during the 4th quarter. State Street Corp now owns 3,842,223 shares of the oil and gas producer’s stock worth $171,786,000 after purchasing an additional 491,751 shares in the last quarter. Victory Capital Management Inc. increased its position in California Resources by 200.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,344,493 shares of the oil and gas producer’s stock worth $104,822,000 after purchasing an additional 1,564,866 shares in the last quarter. Finally, Sourcerock Group LLC raised its stake in California Resources by 63.8% in the 2nd quarter. Sourcerock Group LLC now owns 2,000,649 shares of the oil and gas producer’s stock valued at $91,370,000 after purchasing an additional 779,280 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jay A. Bys sold 11,907 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $61.68, for a total transaction of $734,423.76. Following the completion of the transaction, the executive vice president owned 171,331 shares of the company’s stock, valued at approximately $10,567,696.08. This represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CRC shares. Wells Fargo & Company upped their target price on shares of California Resources from $72.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, March 17th. UBS Group set a $78.00 price objective on shares of California Resources and gave the company a “buy” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of California Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Mizuho upped their price objective on shares of California Resources from $86.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, Zacks Research lowered shares of California Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.70.

California Resources Stock Down 0.2%

CRC opened at $52.52 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.55 and a quick ratio of 0.47. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of -10.10 and a beta of 0.92. The business has a 50-day moving average of $57.97 and a two-hundred day moving average of $57.59. California Resources Corporation has a 12 month low of $43.24 and a 12 month high of $71.98.

California Resources (NYSE:CRC) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $0.88 EPS for the quarter, meeting analysts’ consensus estimates of $0.88. The company had revenue of $119.00 million during the quarter, compared to the consensus estimate of $947.50 million. California Resources had a negative net margin of 16.10% and a positive return on equity of 10.12%. The company’s quarterly revenue was down 87.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 EPS. On average, research analysts expect that California Resources Corporation will post 5.24 earnings per share for the current year.

California Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, May 29th were issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, May 29th. California Resources’s payout ratio is presently -31.15%.

California Resources Company Profile

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.