AlphaMark Advisors LLC Has $349,000 Position in California Resources Co. (NYSE:CRC)

AlphaMark Advisors LLC lifted its holdings in California Resources Co. (NYSE:CRC) by 10.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,658 shares of the oil and gas producer’s stock after acquiring an additional 652 shares during the quarter. AlphaMark Advisors LLC’s holdings in California Resources were worth $349,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CRC. GAMMA Investing LLC boosted its position in California Resources by 61.5% during the 3rd quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 371 shares during the period. Privium Fund Management B.V. purchased a new position in California Resources during the second quarter valued at approximately $258,000. Hyperion Capital Advisors LP purchased a new position in California Resources during the first quarter valued at approximately $275,000. Bfsg LLC increased its stake in California Resources by 15.4% in the 2nd quarter. Bfsg LLC now owns 6,379 shares of the oil and gas producer’s stock valued at $339,000 after buying an additional 851 shares during the period. Finally, Shell Asset Management Co. lifted its position in California Resources by 99.8% in the 1st quarter. Shell Asset Management Co. now owns 6,311 shares of the oil and gas producer’s stock worth $348,000 after buying an additional 3,153 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Insider Activity at California Resources

In other California Resources news, Director Christian S. Kendall purchased 20,895 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of $47.97 per share, with a total value of $1,002,333.15. Following the transaction, the director now directly owns 24,600 shares in the company, valued at approximately $1,180,062. This represents a 500.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Francisco Leon sold 7,500 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $49.18, for a total value of $368,850.00. Following the completion of the sale, the chief executive officer now owns 166,357 shares in the company, valued at approximately $8,181,437.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christian S. Kendall purchased 20,895 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $47.97 per share, for a total transaction of $1,002,333.15. Following the completion of the purchase, the director now directly owns 24,600 shares of the company’s stock, valued at approximately $1,180,062. This trade represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRC has been the topic of a number of research reports. UBS Group initiated coverage on shares of California Resources in a research note on Wednesday. They issued a “buy” rating and a $68.00 price target on the stock. Barclays raised their price target on California Resources from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 price target on shares of California Resources in a research note on Monday, August 12th. TD Cowen began coverage on shares of California Resources in a research report on Friday, August 2nd. They set a “buy” rating and a $65.00 price objective on the stock. Finally, Bank of America raised shares of 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 report on Wednesday, August 21st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, California Resources has a consensus rating of “Moderate Buy” and a consensus price target of $64.75.

California Resources Stock Down 2.0 %

Shares of California Resources stock opened at $51.28 on Friday. California Resources Co. has a 12-month low of $43.09 and a 12-month high of $57.88. The stock has a market capitalization of $3.51 billion, a P/E ratio of 14.69, a PEG ratio of 1.27 and a beta of 0.98. The company has a quick ratio of 2.33, a current ratio of 2.43 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $51.31 and a two-hundred day moving average price of $50.95.

California Resources (NYSE:CRC) last posted its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.36). The firm had revenue of $514.00 million during the quarter, compared to analyst estimates of $477.07 million. California Resources had a net margin of 7.61% and a return on equity of 11.27%. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. Equities analysts expect that California Resources Co. will post 3.45 earnings per share for the current year.

California Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Friday, August 30th. This is a boost from California Resources’s previous quarterly dividend of $0.31. California Resources’s payout ratio is currently 44.41%.

California Resources Company 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.