Thrivent Financial for Lutherans Sells 25,322 Shares of California Resources Co. (NYSE:CRC)

Thrivent Financial for Lutherans lowered its holdings in shares of California Resources Co. (NYSE:CRC) by 31.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,640 shares of the oil and gas producer’s stock after selling 25,322 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of California Resources worth $2,867,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CRC. GSA Capital Partners LLP bought a new position in shares of California Resources in the third quarter valued at $682,000. Interval Partners LP purchased a new stake in shares of California Resources in the second quarter worth approximately $2,213,000. Vest Financial LLC lifted its holdings in shares of California Resources by 38.4% in the second quarter. Vest Financial LLC now owns 470,694 shares of the oil and gas producer’s stock valued at $25,050,000 after purchasing an additional 130,526 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of California Resources during the second quarter valued at approximately $729,000. Finally, Farther Finance Advisors LLC boosted its position in shares of California Resources by 9.4% during the third quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock valued at $169,000 after buying an additional 276 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

Insider Activity

In other California Resources news, VP Noelle M. Repetti sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.00, for a total transaction of $530,000.00. Following the completion of the transaction, the vice president now owns 17,301 shares in the company, valued at $916,953. This trade represents a 36.63 % decrease in their position. 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 business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $49.18, for a total transaction of $368,850.00. Following the completion of the sale, the chief executive officer now owns 166,357 shares in the company, valued at $8,181,437.26. This represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,270 shares of company stock worth $1,387,778 over the last ninety days. Corporate insiders own 0.03% of the company’s stock.

California Resources Stock Performance

CRC stock opened at $58.56 on Wednesday. The company has a market cap of $3.97 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. California Resources Co. has a 1 year low of $43.09 and a 1 year high of $60.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. The stock’s fifty day moving average price is $54.00 and its 200-day moving average price is $51.15.

California Resources (NYSE:CRC) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.62. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $973.13 million. During the same period last year, the firm earned $1.02 earnings per share. The company’s quarterly revenue was up 194.1% on a year-over-year basis. On average, equities analysts forecast that California Resources Co. will post 3.42 earnings per share for the current year.

California Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.3875 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.55 dividend on an annualized basis and a yield of 2.65%. California Resources’s dividend payout ratio is presently 24.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of California Resources in a research report on Thursday, October 24th. They set a “buy” rating and a $64.00 price target on the stock. Bank of America upgraded California Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $65.00 in a research note on Wednesday, August 21st. TD Cowen increased their price target on California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays lifted their price target on California Resources from $55.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. Finally, StockNews.com upgraded California Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.40.

California Resources 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.