SIR Capital Management L.P. Sells 66,077 Shares of California Resources Co. (NYSE:CRC)

SIR Capital Management L.P. decreased its position in California Resources Co. (NYSE:CRC - Free Report) by 32.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 approximately 0.15% of California Resources worth $7,239,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Entropy Technologies LP bought a new position in shares of California Resources in the 4th quarter worth about $841,000. Bank of New York Mellon Corp increased its holdings in California Resources by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 739,057 shares of the oil and gas producer's stock worth $38,350,000 after purchasing an additional 14,240 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in California Resources by 1.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 55,289 shares of the oil and gas producer's stock valued at $2,869,000 after buying an additional 649 shares during the period. Empowered Funds LLC boosted its holdings in shares of California Resources by 84.3% during the 4th quarter. Empowered Funds LLC now owns 48,929 shares of the oil and gas producer's stock worth $2,539,000 after buying an additional 22,383 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of California Resources by 518.4% during the 4th quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer's stock worth $88,000 after buying an additional 1,410 shares in the last quarter. Institutional investors own 97.79% of the company's stock.

Wall Street Analysts Forecast Growth

CRC has been the topic of several research analyst reports. Citigroup increased their target price on shares of California Resources from $36.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday. Mizuho decreased their target price on California Resources from $64.00 to $60.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Roth Capital reiterated a "buy" rating on shares of California Resources in a report on Wednesday, May 7th. Barclays boosted their target price on shares of California Resources from $47.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Finally, Bank of America dropped their price target on shares of California Resources from $64.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, California Resources has an average rating of "Moderate Buy" and a consensus price target of $60.36.

Insider Activity

In other news, Director James N. Chapman bought 2,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $39.42 per share, for a total transaction of $78,840.00. Following the completion of the acquisition, the director now owns 43,445 shares of the company's stock, valued at approximately $1,712,601.90. This trade represents a 4.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.03% of the company's stock.

California Resources Stock Performance

Shares of CRC traded down $0.62 on Wednesday, reaching $42.74. 271,013 shares of the company's stock traded hands, compared to its average volume of 868,243. The stock's 50 day simple moving average is $39.05 and its two-hundred day simple moving average is $47.25. The stock has a market cap of $3.81 billion, a PE ratio of 6.76, a PEG ratio of 1.02 and a beta of 1.06. California Resources Co. has a 52-week low of $30.97 and a 52-week high of $60.41. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.

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

California Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.3875 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.55 annualized dividend and a yield of 3.63%. California Resources's payout ratio is 28.13%.

California Resources Company 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.