California Resources Corp (NYSE:CRC) Director William E. Albrecht sold 10,000 shares of California Resources stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, 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 can be accessed through the SEC website.
Shares of 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 company has a fifty day moving average price of $17.82. The firm has a market capitalization of $958.92 million, a PE ratio of 11.70 and a beta of 4.40.
California Resources (NYSE:CRC) last issued its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.94. California Resources had a negative return on equity of 18.81% and a net margin of 8.36%. The business had revenue of $690.00 million during the quarter, compared to analysts’ expectations of $635.00 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. As a group, research analysts expect that California Resources Corp will post 3.1 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of California Resources by 4.1% in the fourth quarter. BlackRock Inc. now owns 3,263,108 shares of the oil and gas producer’s stock valued at $55,602,000 after buying an additional 127,025 shares in the last quarter. Spark Investment Management LLC grew its stake in shares of California Resources by 13.2% in the first quarter. Spark Investment Management LLC now owns 841,182 shares of the oil and gas producer’s stock valued at $21,626,000 after buying an additional 98,100 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of California Resources by 57.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 807,671 shares of the oil and gas producer’s stock valued at $13,763,000 after buying an additional 294,906 shares in the last quarter. FMR LLC grew its stake in shares of California Resources by 8.0% in the fourth quarter. FMR LLC now owns 679,804 shares of the oil and gas producer’s stock valued at $11,584,000 after buying an additional 50,276 shares in the last quarter. Finally, Restructuring Capital Associates LP grew its stake in shares of California Resources by 15.2% in the fourth quarter. Restructuring Capital Associates LP now owns 627,342 shares of the oil and gas producer’s stock valued at $10,690,000 after buying an additional 82,837 shares in the last quarter. 62.80% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the company. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Mizuho set a $67.00 target price on Walgreens Boots Alliance and gave the company a “hold” rating in a research report on Thursday, March 28th. Zacks Investment Research downgraded W. R. Grace & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Raymond James restated a “neutral” rating and issued a $35.00 target price on shares of Stantec in a research report on Monday, May 13th. Finally, Goldman Sachs Group downgraded Encana to a “buy” rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price 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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