California Resources Corporation $CRC Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lowered its holdings in California Resources Corporation (NYSE:CRC) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,115,379 shares of the oil and gas producer’s stock after selling 174,100 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in California Resources were worth $59,316,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in shares of California Resources by 29.7% during the third quarter. Nisa Investment Advisors LLC now owns 956 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 219 shares in the last quarter. Clearstead Advisors LLC raised its holdings in California Resources by 82.5% in the third quarter. Clearstead Advisors LLC now owns 500 shares of the oil and gas producer’s stock valued at $27,000 after acquiring an additional 226 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in California Resources by 21.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,353 shares of the oil and gas producer’s stock valued at $73,000 after acquiring an additional 236 shares during the last quarter. Xponance Inc. boosted its stake in California Resources by 4.7% during the 3rd quarter. Xponance Inc. now owns 5,301 shares of the oil and gas producer’s stock valued at $282,000 after acquiring an additional 237 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in California Resources by 2.4% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 16,364 shares of the oil and gas producer’s stock worth $870,000 after acquiring an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Insider Activity at California Resources

In other news, VP Noelle M. Repetti sold 8,564 shares of California Resources stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $63.71, for a total transaction of $545,612.44. Following the sale, the vice president owned 7,684 shares of the company’s stock, valued at approximately $489,547.64. The trade was a 52.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.

California Resources Stock Performance

CRC stock opened at $64.97 on Friday. California Resources Corporation has a 1 year low of $30.97 and a 1 year high of $65.68. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 15.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.78 and a current ratio of 0.89. The stock’s fifty day moving average is $52.71 and its two-hundred day moving average is $50.35.

California Resources (NYSE:CRC) last released its quarterly earnings data on Monday, March 2nd. The oil and gas producer reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The firm had revenue of $924.00 million during the quarter, compared to analyst estimates of $789.67 million. California Resources had a return on equity of 10.23% and a net margin of 9.89%.The firm’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. On average, research analysts predict that California Resources Corporation will post 3.85 EPS for the current year.

California Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 13th will be given a $0.405 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.62 annualized dividend and a yield of 2.5%. California Resources’s dividend payout ratio is 39.71%.

Analyst Ratings Changes

Several research firms have recently weighed in on CRC. Pickering Energy Partners downgraded shares of California Resources from an “outperform” rating to a “neutral” rating in a research report on Friday, January 9th. Barclays boosted their price objective on California Resources from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of California Resources in a report on Wednesday, January 21st. Wall Street Zen lowered shares of California Resources from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Zacks Research raised shares of California Resources from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.90.

California Resources Profile

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.