Natixis Advisors LLC Buys 1,122 Shares of California Resources Co. (NYSE:CRC)

Natixis Advisors LLC increased its stake in California Resources Co. (NYSE:CRC) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,164 shares of the oil and gas producer’s stock after acquiring an additional 1,122 shares during the period. Natixis Advisors LLC’s holdings in California Resources were worth $631,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CRC. Weiss Asset Management LP bought a new stake in California Resources in the third quarter valued at approximately $28,043,000. State Street Corp raised its holdings in California Resources by 5.1% during the 3rd quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock valued at $181,021,000 after buying an additional 168,278 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in California Resources during the 4th quarter valued at $7,884,000. Vest Financial LLC grew its holdings in California Resources by 27.8% in the 4th quarter. Vest Financial LLC now owns 688,746 shares of the oil and gas producer’s stock worth $35,739,000 after acquiring an additional 149,737 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of California Resources by 8.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 974,202 shares of the oil and gas producer’s stock valued at $51,116,000 after acquiring an additional 75,606 shares during the period. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other California Resources news, Director James N. Chapman acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $39.42 per share, with a total value of $78,840.00. Following the transaction, the director now owns 43,445 shares of the company’s stock, valued at $1,712,601.90. The trade was a 4.83 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.03% of the company’s stock.

California Resources Stock Performance

California Resources stock opened at $44.55 on Thursday. The stock’s 50 day moving average is $46.81 and its 200 day moving average is $51.21. The company has a market capitalization of $4.04 billion, a P/E ratio of 7.02, a PEG ratio of 1.02 and a beta of 1.06. California Resources Co. has a twelve month low of $38.02 and a twelve month high of $60.41. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32.

California Resources (NYSE:CRC) last issued its quarterly earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.05). The company had revenue of $877.00 million for the quarter, compared to the consensus estimate of $901.36 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. On average, equities research analysts predict that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $0.3875 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.55 annualized dividend and a dividend yield of 3.48%. California Resources’s dividend payout ratio is presently 37.71%.

Analysts Set New Price Targets

Several research firms recently issued reports on CRC. Truist Financial assumed coverage on California Resources in a research note on Monday, January 13th. They issued a “buy” rating and a $75.00 target price on the stock. Capital One Financial raised California Resources to a “strong-buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. began coverage on California Resources in a research note on Friday, December 20th. They issued a “neutral” rating and a $63.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of California Resources in a research report on Tuesday, January 14th. Finally, Barclays dropped their target price on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, California Resources currently has an average rating of “Moderate Buy” and an average target price of $67.08.

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.