Swiss National Bank Purchases 13,700 Shares of California Resources Co. (NYSE:CRC)

Swiss National Bank boosted its position in California Resources Co. (NYSE:CRC) by 12.7% in the third quarter, Holdings Channel.com reports. The firm owned 121,900 shares of the oil and gas producer’s stock after purchasing an additional 13,700 shares during the quarter. Swiss National Bank’s holdings in California Resources were worth $6,396,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CRC. Point72 Asset Management L.P. raised its holdings in California Resources by 2,615.2% in the 2nd 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 buying an additional 811,963 shares during the last quarter. Samlyn Capital LLC acquired a new position in California Resources in the 2nd quarter valued at approximately $28,566,000. American Century Companies Inc. raised its stake 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 valued at $86,825,000 after acquiring an additional 250,367 shares during the last quarter. SIR Capital Management L.P. bought a new stake in shares of California Resources in the second quarter worth $11,820,000. Finally, Dimensional Fund Advisors LP increased its holdings in California Resources by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,576,306 shares of the oil and gas producer’s stock valued at $190,328,000 after purchasing an additional 165,629 shares during the period. 97.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at California Resources

In other California Resources news, VP Noelle M. Repetti sold 8,770 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.75, for a total value of $488,927.50. Following the completion of the sale, the vice president now directly owns 8,531 shares of the company’s stock, valued at $475,603.25. This trade represents a 50.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Francisco Leon sold 7,500 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $49.18, for a total transaction of $368,850.00. Following the transaction, the chief executive officer now owns 166,357 shares of the company’s stock, valued at $8,181,437.26. This represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,270 shares of company stock worth $1,387,778. Corporate insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CRC shares. Stephens started coverage on California Resources in a report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 target price on the stock. Jefferies Financial Group initiated coverage on California Resources in a research note on Thursday, October 24th. They issued a “buy” rating and a $64.00 price objective on the stock. UBS Group assumed coverage on shares of California Resources in a research report on Wednesday, October 16th. They set a “buy” rating and a $68.00 target price for the company. Citigroup boosted their price target on shares of California Resources from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, Bank of America upgraded shares of California Resources from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $57.00 to $65.00 in a research report on Wednesday, August 21st. Two research 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 an average rating of “Moderate Buy” and an average price target of $66.40.

California Resources Stock Up 0.9 %

Shares of NYSE CRC opened at $58.56 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.97 billion, a PE ratio of 9.22, a P/E/G ratio of 1.48 and a beta of 0.98. The company’s fifty day simple moving average is $54.00 and its 200 day simple moving average is $51.15. California Resources Co. has a 12-month low of $43.09 and a 12-month high of $60.41.

California Resources (NYSE:CRC) last issued its earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 EPS for the quarter, beating the consensus estimate of $0.88 by $0.62. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $973.13 million. During the same period last year, the business posted $1.02 EPS. The firm’s revenue for the quarter was up 194.1% compared to the same quarter last year. As a group, sell-side analysts forecast that California Resources Co. will post 3.42 earnings per share for the current fiscal year.

California Resources Announces Dividend

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

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.