Insider Buying: California Resources Corp (NYSE:CRC) Director Purchases 10,000 Shares of Stock

Share on StockTwits

California Resources Corp (NYSE:CRC) Director Avedick Baruyr Poladian purchased 10,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $9.03 per share, with a total value of $90,300.00. Following the completion of the acquisition, the director now directly owns 48,439 shares in the company, valued at approximately $437,404.17. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of CRC stock traded down $0.45 on Thursday, reaching $8.91. 1,952,875 shares of the stock were exchanged, compared to its average volume of 2,239,009. The stock has a market cap of $441.98 million, a P/E ratio of 7.02 and a beta of 4.38. The firm has a 50 day moving average of $15.35 and a two-hundred day moving average of $20.10. California Resources Corp has a 1-year low of $8.90 and a 1-year high of $50.34.

California Resources (NYSE:CRC) last released its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.57). The firm had revenue of $653.00 million for the quarter, compared to analyst estimates of $674.43 million. California Resources had a negative return on equity of 23.66% and a net margin of 10.99%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.29) earnings per share. As a group, equities analysts forecast that California Resources Corp will post 0.71 EPS for the current fiscal year.

Several research analysts have weighed in on CRC shares. Bank of America boosted their price target on California Resources from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. ValuEngine downgraded California Resources from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded California Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 31st. Raymond James upgraded California Resources from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Monday, May 13th. They noted that the move was a valuation call. Finally, Imperial Capital cut their price target on California Resources from $28.00 to $20.00 and set a “positive” rating for the company in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. California Resources has an average rating of “Hold” and a consensus target price of $28.57.

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in California Resources in the fourth quarter valued at $5,203,000. Dimensional Fund Advisors LP raised its holdings in California Resources by 57.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 807,671 shares of the oil and gas producer’s stock worth $13,763,000 after purchasing an additional 294,906 shares during the last quarter. Nuveen Asset Management LLC bought a new position in California Resources during the 2nd quarter worth approximately $5,581,000. Vanguard Group Inc. raised its holdings in California Resources by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,045,349 shares of the oil and gas producer’s stock worth $79,612,000 after purchasing an additional 161,155 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in California Resources by 1,590.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 141,705 shares of the oil and gas producer’s stock worth $2,789,000 after purchasing an additional 133,320 shares during the last quarter. Institutional investors and hedge funds own 62.31% of the company’s stock.

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.

Featured Story: The components of the Stochastic Momentum Index

Insider Buying and Selling by Quarter for California Resources (NYSE:CRC)

Receive News & Ratings for California Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Resources and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.