William Roby Buys 467 Shares of California Resources (NYSE:CRC) Stock

California Resources Corporation Director William Roby purchased 467 shares at $47.62 each, totaling $22,238.54. Post-transaction, Roby owns 57,179 shares, valued at $2,722,863.98, a 0.82% increase in ownership. The purchase was disclosed in an SEC filing. CRC shares rose 2.5% to $48.90. The company reported $1.46 EPS for Q3, beating estimates. CRC declared a $0.405 quarterly dividend, up from $0.39, yielding 3.3%. Institutional investors have adjusted their stakes in CRC. Analysts have mixed ratings on CRC, with some upgrading their price targets.

California Resources Corporation (NYSE:CRC - Get Free Report) Director William Roby acquired 467 shares of the business's stock in a transaction that occurred on Wednesday, November 12th. The shares were purchased at an average price of $47.62 per share, with a total value of $22,238.54. Following the completion of the acquisition, the director owned 57,179 shares of the company's stock, valued at $2,722,863.98. This represents a 0.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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California Resources Stock Up 2.5%

Hold Ratings, High Rewards? 3 Stocks That Could Defy Expectations

Shares of CRC traded up $1.19 during midday trading on Thursday, reaching $48.90. 1,400,703 shares of the stock were exchanged, compared to its average volume of 959,231. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 11.37 and a beta of 1.15. The company has a quick ratio of 0.78, a current ratio of 0.89 and a debt-to-equity ratio of 0.26. California Resources Corporation has a 12-month low of $30.97 and a 12-month high of $60.08. The firm has a 50 day simple moving average of $50.67 and a 200-day simple moving average of $47.41.

California Resources (NYSE:CRC - Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.46 EPS for the quarter, beating the consensus estimate of $1.31 by $0.15. The business had revenue of $855.00 million during the quarter, compared to analysts' expectations of $888.58 million. California Resources had a return on equity of 11.59% and a net margin of 10.60%.The firm's quarterly revenue was down 36.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 EPS. Research analysts forecast that California Resources Corporation will post 3.85 EPS for the current year.

California Resources Increases Dividend

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.405 dividend. The ex-dividend date is Monday, December 1st. This is a positive change from California Resources's previous quarterly dividend of $0.39. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.3%. California Resources's dividend payout ratio is presently 36.05%.

Institutional Trading of California Resources

Large investors have recently added to or reduced their stakes in the company. Clearstead Advisors LLC boosted its holdings in shares of California Resources by 82.5% in the 3rd quarter. Clearstead Advisors LLC now owns 500 shares of the oil and gas producer's stock worth $27,000 after acquiring an additional 226 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of California Resources by 269.4% in the first quarter. Larson Financial Group LLC now owns 639 shares of the oil and gas producer's stock valued at $28,000 after buying an additional 466 shares in the last quarter. Salomon & Ludwin LLC bought a new position in shares of California Resources in the third quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in California Resources during the 2nd quarter worth about $35,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in California Resources by 97.9% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the oil and gas producer's stock worth $42,000 after acquiring an additional 460 shares during the last quarter. 97.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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CRC has been the topic of several recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of California Resources in a report on Wednesday, October 8th. Barclays lifted their price target on California Resources from $66.00 to $68.00 and gave the stock an "overweight" rating in a research report on Thursday, November 6th. Jefferies Financial Group set a $71.00 price objective on California Resources and gave the company a "buy" rating in a research report on Sunday, September 21st. Roth Capital set a $63.00 price objective on shares of California Resources in a research note on Monday, September 15th. Finally, Bank of America boosted their target price on shares of California Resources from $60.00 to $66.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $66.27.

Check Out Our Latest Report on California Resources

California Resources Company Profile

(Get Free Report)

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.

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