California Resources Corporation $CRC Shares Acquired by Clayton Partners LLC

Clayton Partners LLC lifted its position in California Resources Corporation (NYSE:CRC) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,364 shares of the oil and gas producer’s stock after purchasing an additional 14,264 shares during the quarter. California Resources accounts for 4.7% of Clayton Partners LLC’s portfolio, making the stock its 5th largest position. Clayton Partners LLC owned about 0.18% of California Resources worth $6,723,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. American Century Companies Inc. raised its stake in shares of California Resources by 5.6% in the third quarter. American Century Companies Inc. now owns 3,006,430 shares of the oil and gas producer’s stock valued at $159,882,000 after purchasing an additional 159,708 shares in the last quarter. Channing Capital Management LLC acquired a new position in shares of California Resources in the third quarter valued at $6,205,000. Quantbot Technologies LP acquired a new position in shares of California Resources in the third quarter valued at $3,281,000. Lombard Odier Asset Management USA Corp acquired a new position in shares of California Resources in the third quarter valued at $1,808,000. Finally, Harbor Capital Advisors Inc. raised its stake in shares of California Resources by 394.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 25,017 shares of the oil and gas producer’s stock valued at $1,119,000 after purchasing an additional 19,955 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CRC. Weiss Ratings lowered California Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Wells Fargo & Company increased their price objective on California Resources from $72.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 17th. Barclays increased their price objective on California Resources from $72.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded California Resources from a “hold” rating to a “buy” rating in a research note on Monday. Finally, UBS Group set a $78.00 price objective on California Resources and gave the stock a “buy” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.50.

Insider Transactions at California Resources

In related news, EVP Jay A. Bys sold 11,907 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $61.68, for a total value of $734,423.76. Following the transaction, the executive vice president owned 171,331 shares in the company, valued at $10,567,696.08. This trade represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.53% of the stock is currently owned by corporate insiders.

California Resources Price Performance

California Resources stock opened at $55.35 on Thursday. The business’s 50-day simple moving average is $62.24 and its 200 day simple moving average is $56.94. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of -10.64 and a beta of 0.90. California Resources Corporation has a 12-month low of $43.24 and a 12-month high of $71.98. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 0.45.

California Resources (NYSE:CRC) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.88. The business had revenue of $119.00 million for the quarter, compared to analysts’ expectations of $947.50 million. California Resources had a positive return on equity of 10.12% and a negative net margin of 16.10%.The firm’s quarterly revenue was down 87.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 earnings per share. As a group, research analysts anticipate that California Resources Corporation will post 5.26 earnings per share for the current year.

California Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, May 29th will be issued a $0.405 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.62 annualized dividend and a yield of 2.9%. California Resources’s dividend payout ratio (DPR) is currently -31.15%.

California Resources Profile

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.