California Resources Corp (NYSE:CRC) Director William E. Albrecht sold 10,000 shares of California Resources stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the sale, the director now owns 102,883 shares in the company, valued at approximately $2,057,660. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NYSE:CRC opened at $19.65 on Friday. The stock has a fifty day moving average of $17.82. The company has a market capitalization of $939.40 million, a price-to-earnings ratio of 11.46 and a beta of 4.40. California Resources Corp has a 12-month low of $13.48 and a 12-month high of $50.34.
California Resources (NYSE:CRC) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.94. The business had revenue of $690.00 million during the quarter, compared to analyst estimates of $635.00 million. California Resources had a net margin of 8.36% and a negative return on equity of 18.81%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. As a group, equities analysts predict that California Resources Corp will post 3.1 earnings per share for the current year.
Several large investors have recently modified their holdings of CRC. Prudential Financial Inc. boosted its stake in shares of California Resources by 1,949.1% during the 4th quarter. Prudential Financial Inc. now owns 110,303 shares of the oil and gas producer’s stock worth $1,880,000 after purchasing an additional 104,920 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of California Resources during the 4th quarter worth about $1,694,000. BlackRock Inc. boosted its stake in shares of California Resources by 4.1% during the 4th quarter. BlackRock Inc. now owns 3,263,108 shares of the oil and gas producer’s stock worth $55,602,000 after purchasing an additional 127,025 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of California Resources by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 228,485 shares of the oil and gas producer’s stock worth $3,894,000 after purchasing an additional 5,259 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of California Resources by 4.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 49,707 shares of the oil and gas producer’s stock worth $847,000 after purchasing an additional 2,238 shares during the last quarter. Institutional investors and hedge funds own 62.80% of the company’s stock.
CRC has been the topic of a number of analyst reports. Goldman Sachs Group lowered shares of Encana to a “buy” rating in a research note on Friday, April 12th. Raymond James reiterated a “neutral” rating and set a $35.00 price objective on shares of Stantec in a research note on Monday, May 13th. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Mizuho set a $67.00 price objective on shares of Walgreens Boots Alliance and gave the company a “hold” rating in a research note on Thursday, March 28th. Finally, Zacks Investment Research lowered shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $33.33.
About California Resources
California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. The company sells crude oil, natural gas, and natural gas liquids to marketers, California refineries, and other purchasers that have access to transportation and storage facilities.
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