California Resources Corp (NYSE:CRC) Director William E. Albrecht sold 10,000 shares of California Resources stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the director now owns 102,883 shares of the company’s stock, valued at approximately $2,057,660. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of CRC opened at $19.65 on Friday. California Resources Corp has a 1 year low of $13.48 and a 1 year high of $50.34. The firm has a market capitalization of $939.40 million, a P/E ratio of 11.46 and a beta of 4.40. The company’s fifty day moving average price is $17.82.
California Resources (NYSE:CRC) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.94. California Resources had a net margin of 8.36% and a negative return on equity of 18.81%. The company had revenue of $690.00 million during the quarter, compared to the consensus estimate of $635.00 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities analysts forecast that California Resources Corp will post 3.1 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in CRC. Truvestments Capital LLC acquired a new position in shares of California Resources during the first quarter valued at $27,000. State of Alaska Department of Revenue acquired a new stake in California Resources in the first quarter worth about $39,000. Hsbc Holdings PLC lifted its holdings in California Resources by 32.8% in the fourth quarter. Hsbc Holdings PLC now owns 11,396 shares of the oil and gas producer’s stock worth $194,000 after purchasing an additional 2,815 shares during the period. Teza Capital Management LLC acquired a new stake in California Resources in the first quarter worth about $202,000. Finally, Virtu Financial LLC acquired a new stake in California Resources in the first quarter worth about $206,000. 62.80% of the stock is owned by institutional investors.
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.
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