California Resources Co. (NYSE:CRC) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its holdings in shares of California Resources Co. (NYSE:CRC) by 0.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,243 shares of the oil and gas producer’s stock after selling 200 shares during the period. Maryland State Retirement & Pension System’s holdings in California Resources were worth $1,254,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in California Resources by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,299,902 shares of the oil and gas producer’s stock worth $180,440,000 after buying an additional 190,588 shares in the last quarter. LSV Asset Management increased its position in California Resources by 6.2% during the 4th quarter. LSV Asset Management now owns 3,125,466 shares of the oil and gas producer’s stock worth $170,900,000 after purchasing an additional 182,246 shares in the last quarter. Pacer Advisors Inc. raised its stake in California Resources by 71.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,965,476 shares of the oil and gas producer’s stock valued at $107,472,000 after purchasing an additional 821,827 shares during the last quarter. American Century Companies Inc. lifted its holdings in California Resources by 13.2% in the 3rd quarter. American Century Companies Inc. now owns 925,185 shares of the oil and gas producer’s stock valued at $51,820,000 after purchasing an additional 108,123 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of California Resources by 229.6% during the 4th quarter. Victory Capital Management Inc. now owns 885,906 shares of the oil and gas producer’s stock worth $48,441,000 after purchasing an additional 617,084 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mark Allen Mcfarland sold 37,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $48.10, for a total transaction of $1,779,700.00. Following the sale, the director now directly owns 104,939 shares in the company, valued at approximately $5,047,565.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.63% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRC. Mizuho boosted their price objective on shares of California Resources from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $65.00 price target on shares of California Resources in a report on Wednesday, June 12th. Stifel Nicolaus raised their price objective on California Resources from $68.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, Barclays started coverage on California Resources in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $62.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

California Resources Trading Down 2.2 %

NYSE:CRC traded down $1.16 on Friday, hitting $51.76. 53,414 shares of the stock were exchanged, compared to its average volume of 937,774. The stock has a market cap of $3.55 billion, a PE ratio of 15.16, a PEG ratio of 0.61 and a beta of 0.98. California Resources Co. has a fifty-two week low of $43.30 and a fifty-two week high of $58.44. The company has a current ratio of 1.41, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average of $49.57 and a 200-day moving average of $51.87.

California Resources (NYSE:CRC) last released its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.17. The company had revenue of $454.00 million during the quarter, compared to the consensus estimate of $490.21 million. California Resources had a net margin of 11.34% and a return on equity of 11.00%. California Resources’s revenue for the quarter was down 55.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.63 earnings per share. As a group, equities analysts expect that California Resources Co. will post 4.44 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Friday, May 31st. California Resources’s dividend payout ratio (DPR) is presently 35.53%.

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.