AlphaMark Advisors LLC Acquires New Holdings in California Resources Co. (NYSE:CRC)

AlphaMark Advisors LLC purchased a new position in shares of California Resources Co. (NYSE:CRC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,006 shares of the oil and gas producer’s stock, valued at approximately $320,000.

Several other institutional investors also recently modified their holdings of the business. Lazard Asset Management LLC lifted its holdings in California Resources by 3.7% during the 1st quarter. Lazard Asset Management LLC now owns 7,109 shares of the oil and gas producer’s stock worth $390,000 after buying an additional 253 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of California Resources by 92.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,503 shares of the oil and gas producer’s stock valued at $82,000 after purchasing an additional 722 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of California Resources by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,452 shares of the oil and gas producer’s stock valued at $3,111,000 after purchasing an additional 738 shares during the last quarter. ProShare Advisors LLC increased its position in shares of California Resources by 7.5% during the first quarter. ProShare Advisors LLC now owns 13,937 shares of the oil and gas producer’s stock worth $768,000 after buying an additional 967 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in California Resources by 10.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,927 shares of the oil and gas producer’s stock worth $652,000 after buying an additional 1,115 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

Insiders Place Their Bets

In related news, Director Christian S. Kendall bought 20,895 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $47.97 per share, for a total transaction of $1,002,333.15. Following the completion of the acquisition, the director now directly owns 24,600 shares of the company’s stock, valued at $1,180,062. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other California Resources news, Director Mark Allen Mcfarland sold 37,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $48.10, for a total value of $1,779,700.00. Following the completion of the sale, the director now owns 104,939 shares in the company, valued at approximately $5,047,565.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Christian S. Kendall bought 20,895 shares of California Resources stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average cost of $47.97 per share, with a total value of $1,002,333.15. Following the completion of the acquisition, the director now owns 24,600 shares of the company’s stock, valued at $1,180,062. The disclosure for this purchase can be found here. Corporate insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CRC. Citigroup started coverage on shares of California Resources in a research report on Friday, July 19th. They set a “buy” rating and a $63.00 price target on the stock. Barclays decreased their target price on California Resources from $62.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus boosted their price target on California Resources from $68.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. TD Cowen began coverage on California Resources in a report on Friday, August 2nd. They set a “buy” rating and a $65.00 price target on the stock. Finally, Mizuho lifted their price objective on shares of California Resources from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.13.

California Resources Stock Down 1.0 %

Shares of NYSE:CRC traded down $0.52 during trading on Friday, reaching $49.94. 160,983 shares of the stock were exchanged, compared to its average volume of 904,182. The stock has a fifty day moving average of $50.13 and a two-hundred day moving average of $51.32. California Resources Co. has a 1-year low of $43.09 and a 1-year high of $58.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.41 and a quick ratio of 1.29. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 0.83 and a beta of 0.98.

California Resources (NYSE:CRC) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.36). The business had revenue of $514.00 million during the quarter, compared to the consensus estimate of $477.07 million. California Resources had a net margin of 11.34% and a return on equity of 11.00%. The firm’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period last year, the business posted $0.53 earnings per share. Research analysts anticipate that California Resources Co. will post 4.99 earnings per share for the current fiscal year.

California Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.3875 per share. The ex-dividend date is Friday, August 30th. This represents a $1.55 dividend on an annualized basis and a yield of 3.10%. This is an increase from California Resources’s previous quarterly dividend of $0.31. California Resources’s payout ratio is 44.41%.

California Resources 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.