20,400 California Resources Corporation $CRC Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its holdings in California Resources Corporation (NYSE:CRC) by 81.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,500 shares of the oil and gas producer’s stock after selling 20,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in California Resources were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rockefeller Capital Management L.P. boosted its holdings in shares of California Resources by 363.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 561 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 440 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of California Resources during the 2nd quarter valued at $109,000. Farther Finance Advisors LLC raised its stake in shares of California Resources by 56.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas producer’s stock valued at $110,000 after purchasing an additional 755 shares during the period. Fortitude Family Office LLC lifted its holdings in California Resources by 1,073.6% during the 3rd quarter. Fortitude Family Office LLC now owns 2,089 shares of the oil and gas producer’s stock worth $106,000 after purchasing an additional 1,911 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in California Resources by 15.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,175 shares of the oil and gas producer’s stock worth $110,000 after purchasing an additional 296 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

Insider Buying and Selling at California Resources

In other news, EVP Jay Bys sold 11,907 shares of California Resources stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $54.00, for a total transaction of $642,978.00. Following the completion of the sale, the executive vice president owned 123,703 shares in the company, valued at approximately $6,679,962. This trade represents a 8.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CRC has been the subject of several analyst reports. Stifel Nicolaus initiated coverage on California Resources in a research note on Thursday, September 10th. They issued a “buy” rating and a $68.00 target price for the company. Zacks Research upgraded California Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th. UBS Group reissued a “buy” rating and issued a $68.00 price target (down from $73.00) on shares of California Resources in a report on Monday, October 12th. Barclays set a $74.00 price target on shares of California Resources and gave the stock an “overweight” rating in a report on Monday, August 17th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $77.00 price objective on shares of California Resources in a research report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, California Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.44.

California Resources Trading Down 0.1%

California Resources stock opened at $46.89 on Monday. The stock has a market cap of $4.14 billion, a P/E ratio of -8.27 and a beta of 0.98. California Resources Corporation has a fifty-two week low of $43.24 and a fifty-two week high of $71.98. The firm’s fifty day moving average price is $53.26 and its 200-day moving average price is $56.95. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.51.

California Resources (NYSE:CRC) last posted its quarterly earnings data on Monday, November 2nd. The oil and gas producer reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.17. California Resources had a positive return on equity of 9.56% and a negative net margin of 18.11%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $967.71 million. During the same quarter last year, the company earned $1.46 earnings per share. The firm’s quarterly revenue was up .4% on a year-over-year basis. Equities research analysts forecast that California Resources Corporation will post 4.45 earnings per share for the current fiscal year.

California Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, December 4th. This is an increase from California Resources’s previous quarterly dividend of $0.4050. California Resources’s payout ratio is -28.57%.

About California Resources

California Resources Corporation is an independent energy company focused on developing and producing oil and natural gas in California. Its operations include exploration, production and management of energy resources, with products that include crude oil, natural gas and natural gas liquids.

The company was formed in 2014 when it separated from Occidental Petroleum. Its activities are concentrated in California, where it operates across several major oil-producing regions. In 2024, California Resources completed its acquisition of Aera Energy, expanding its California operations.

Alongside its traditional energy business, the company is developing carbon management projects through its Carbon TerraVault subsidiary.