California Resources Co. (NYSE:CRC) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC lessened its position in shares of California Resources Co. (NYSE:CRC) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 359,200 shares of the oil and gas producer’s stock after selling 11,400 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.53% of California Resources worth $18,847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRC. Farther Finance Advisors LLC grew its stake in shares of California Resources by 9.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock worth $169,000 after purchasing an additional 276 shares during the period. GAMMA Investing LLC raised its position in California Resources by 61.5% during the third 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. Louisiana State Employees Retirement System lifted its holdings in California Resources by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 32,300 shares of the oil and gas producer’s stock valued at $1,719,000 after purchasing an additional 400 shares in the last quarter. KBC Group NV grew its position in shares of California Resources by 29.1% in the third quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 431 shares during the period. Finally, Amalgamated Bank increased its stake in shares of California Resources by 3.1% during the third quarter. Amalgamated Bank now owns 20,406 shares of the oil and gas producer’s stock worth $1,071,000 after purchasing an additional 605 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Transactions at California Resources

In other California Resources news, VP Noelle M. Repetti sold 8,770 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.75, for a total transaction of $488,927.50. Following the transaction, the vice president now directly owns 8,531 shares in the company, valued at $475,603.25. This represents a 50.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Francisco Leon sold 7,500 shares of California Resources stock in a transaction on 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 directly owns 166,357 shares of the company’s stock, valued at $8,181,437.26. The trade was a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,270 shares of company stock worth $1,387,778. 0.63% of the stock is currently owned by company insiders.

California Resources Price Performance

Shares of CRC stock opened at $57.34 on Wednesday. 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 company has a market capitalization of $3.89 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 1.42 and a beta of 1.01. The firm’s 50-day moving average is $54.56 and its two-hundred day moving average is $51.49. California Resources Co. has a 12 month low of $43.09 and a 12 month high of $60.41.

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

California Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Monday, December 2nd. California Resources’s dividend payout ratio is presently 24.41%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRC. Royal Bank of Canada reiterated an “outperform” rating and issued a $65.00 price objective on shares of California Resources in a report on Monday, August 12th. Jefferies Financial Group assumed coverage on California Resources in a research note on Thursday, October 24th. They issued 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 raised their price objective for the company from $57.00 to $65.00 in a report on Wednesday, August 21st. StockNews.com raised shares of California Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, TD Cowen raised their price target on shares of California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.