SIR Capital Management L.P. Decreases Stock Holdings in California Resources Co. (NYSE:CRC)

SIR Capital Management L.P. lessened its stake in shares of California Resources Co. (NYSE:CRC - Free Report) by 32.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 139,509 shares of the oil and gas producer's stock after selling 66,077 shares during the period. SIR Capital Management L.P. owned about 0.15% of California Resources worth $7,239,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in California Resources during the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its holdings in California Resources by 331.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer's stock valued at $53,000 after buying an additional 812 shares during the period. Nisa Investment Advisors LLC increased its holdings in California Resources by 71.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer's stock valued at $56,000 after buying an additional 454 shares during the period. Lazard Asset Management LLC increased its holdings in California Resources by 52,366.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,574 shares of the oil and gas producer's stock valued at $81,000 after buying an additional 1,571 shares during the period. Finally, Blue Trust Inc. increased its holdings in California Resources by 518.4% during the fourth quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer's stock valued at $88,000 after buying an additional 1,410 shares during the period. Institutional investors own 97.79% of the company's stock.

California Resources Trading Up 1.4%

Shares of NYSE:CRC traded up $0.59 during mid-day trading on Monday, reaching $43.19. 1,168,430 shares of the company were exchanged, compared to its average volume of 867,577. 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 firm has a market cap of $3.85 billion, a price-to-earnings ratio of 6.80, a P/E/G ratio of 1.02 and a beta of 1.06. The firm's 50-day simple moving average is $39.01 and its 200 day simple moving average is $47.34. California Resources Co. has a 1 year low of $30.97 and a 1 year high of $60.41.

California Resources (NYSE:CRC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.24. The firm had revenue of $912.00 million during the quarter, compared to analysts' expectations of $862.14 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm's quarterly revenue was up 100.9% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. Equities research analysts forecast that California Resources Co. will post 3.85 EPS for the current year.

California Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.3875 per share. The ex-dividend date is Friday, May 30th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.59%. California Resources's payout ratio is currently 28.13%.

Insider Buying and Selling

In other California Resources news, Director James N. Chapman purchased 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $39.42 per share, with a total value of $78,840.00. Following the transaction, the director now directly owns 43,445 shares of the company's stock, valued at approximately $1,712,601.90. This represents a 4.83% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CRC has been the topic of several research reports. Royal Bank of Canada cut their price objective on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. UBS Group boosted their price objective on shares of California Resources from $49.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Barclays boosted their price objective on shares of California Resources from $47.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Bank of America dropped their price objective on shares of California Resources from $64.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Finally, Citigroup boosted their price objective on shares of California Resources from $36.00 to $44.00 and gave the company a "neutral" rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $60.36.

About California Resources

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.