William B. Roby Acquires 388 Shares of California Resources Co. (NYSE:CRC) Stock

California Resources Co. (NYSE:CRC) Director William B. Roby bought 388 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were acquired at an average price of $46.97 per share, with a total value of $18,224.36. Following the completion of the acquisition, the director now directly owns 51,014 shares in the company, valued at approximately $2,396,127.58. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

California Resources Trading Up 1.0 %

NYSE CRC opened at $47.21 on Friday. California Resources Co. has a one year low of $37.21 and a one year high of $58.44. The company’s 50 day moving average price is $52.88 and its 200 day moving average price is $52.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.41. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.50 and a beta of 1.03.

California Resources (NYSE:CRC) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.75 EPS for the quarter, beating the consensus estimate of $0.58 by $0.17. California Resources had a net margin of 11.34% and a return on equity of 11.00%. The firm had revenue of $454.00 million for the quarter, compared to analyst estimates of $490.21 million. During the same quarter last year, the firm posted $2.63 earnings per share. California Resources’s revenue for the quarter was down 55.7% compared to the same quarter last year. On average, sell-side analysts predict that California Resources Co. will post 4.88 EPS for the current year.

California Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.24 annualized dividend and a yield of 2.63%. California Resources’s payout ratio is 35.53%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays assumed coverage on shares of California Resources in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $62.00 price target on the stock. Mizuho raised their target price on shares of California Resources from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of California Resources in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus raised their target price on shares of California Resources from $68.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, California Resources currently has an average rating of “Moderate Buy” and an average price target of $63.71.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Raymond James & Associates purchased a new stake in shares of California Resources during the third quarter valued at approximately $389,000. Orion Portfolio Solutions LLC purchased a new stake in shares of California Resources during the third quarter valued at approximately $615,000. Victory Capital Management Inc. raised its stake in shares of California Resources by 2.1% during the third quarter. Victory Capital Management Inc. now owns 268,822 shares of the oil and gas producer’s stock valued at $15,057,000 after purchasing an additional 5,639 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in shares of California Resources during the third quarter valued at approximately $2,268,000. Finally, Barclays PLC raised its stake in shares of California Resources by 46.8% during the third quarter. Barclays PLC now owns 122,753 shares of the oil and gas producer’s stock valued at $6,875,000 after purchasing an additional 39,160 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.