California Resources Co. (NYSE:CRC) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC trimmed its holdings in shares of California Resources Co. (NYSE:CRC) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,942 shares of the oil and gas producer’s stock after selling 282 shares during the quarter. Farther Finance Advisors LLC’s holdings in California Resources were worth $153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp increased its position in shares of California Resources by 5.1% during the 3rd quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock worth $181,021,000 after purchasing an additional 168,278 shares during the last quarter. Geode Capital Management LLC increased its position in shares of California Resources by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer’s stock worth $83,583,000 after purchasing an additional 55,815 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of California Resources by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,031,816 shares of the oil and gas producer’s stock worth $53,541,000 after purchasing an additional 57,614 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of California Resources by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 739,057 shares of the oil and gas producer’s stock worth $38,350,000 after purchasing an additional 14,240 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its position in shares of California Resources by 3.7% during the 4th quarter. DAVENPORT & Co LLC now owns 731,712 shares of the oil and gas producer’s stock worth $37,969,000 after purchasing an additional 26,026 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRC has been the subject of several research reports. TD Cowen lifted their target price on California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Barclays dropped their target price on California Resources from $57.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 target price on shares of California Resources in a research report on Tuesday, January 14th. JPMorgan Chase & Co. initiated coverage on California Resources in a research report on Friday, December 20th. They issued a “neutral” rating and a $63.00 target price for the company. Finally, Capital One Financial raised California Resources to a “strong-buy” rating in a research report on Monday, December 9th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.08.

Insider Buying and Selling

In other news, Director James N. Chapman acquired 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $39.42 per share, with a total value of $78,840.00. Following the completion of the acquisition, the director now owns 43,445 shares of the company’s stock, valued at $1,712,601.90. The trade was a 4.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is owned by company insiders.

California Resources Price Performance

CRC stock opened at $44.34 on Friday. The business has a 50 day moving average price of $47.58 and a 200 day moving average price of $51.36. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 6.98, a PEG ratio of 1.02 and a beta of 1.06. California Resources Co. has a fifty-two week low of $38.02 and a fifty-two week high of $60.41. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32.

California Resources (NYSE:CRC) last posted its earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.05). The business had revenue of $877.00 million for the quarter, compared to analysts’ expectations of $901.36 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. Equities research analysts anticipate that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

California Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Monday, March 10th. California Resources’s payout ratio is 37.71%.

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.