California Resources Co. (NYSE:CRC) Stock Position Raised by Xponance Inc.

Xponance Inc. grew its position in shares of California Resources Co. (NYSE:CRC) by 9.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,929 shares of the oil and gas producer’s stock after buying an additional 426 shares during the quarter. Xponance Inc.’s holdings in California Resources were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. R Squared Ltd acquired a new stake in California Resources in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC lifted its stake in shares of California Resources by 331.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 812 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of California Resources by 71.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer’s stock valued at $56,000 after purchasing an additional 454 shares during the last quarter. GAMMA Investing LLC boosted its holdings in California Resources by 22.8% in the fourth quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer’s stock worth $62,000 after purchasing an additional 222 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in California Resources during the third quarter worth $70,000. Institutional investors own 97.79% of the company’s stock.

Insiders Place Their Bets

In related news, Director James N. Chapman purchased 2,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the completion of the transaction, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $1,712,601.90. The trade was a 4.83 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.03% of the company’s stock.

California Resources Trading Down 1.0 %

California Resources stock opened at $43.80 on Friday. The business has a 50 day moving average price of $46.42 and a two-hundred day moving average price of $51.14. 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 Co. has a 12 month low of $38.02 and a 12 month high of $60.41. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 6.90, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06.

California Resources (NYSE:CRC) last issued its earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.05). California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm had revenue of $877.00 million during the quarter, compared to analyst estimates of $901.36 million. As a group, equities analysts forecast that California Resources Co. will post 3.85 EPS for the current year.

California Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 3.54%. The ex-dividend date was Monday, March 10th. California Resources’s dividend payout ratio (DPR) is presently 37.71%.

Analyst Ratings Changes

Several research firms have recently issued reports on CRC. JPMorgan Chase & Co. began coverage on California Resources in a research note on Friday, December 20th. They set a “neutral” rating and a $63.00 price target for the company. Truist Financial assumed coverage on California Resources in a research report on Monday, January 13th. They set a “buy” rating and a $75.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of California Resources in a research report on Thursday. Barclays decreased their price objective on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Finally, Capital One Financial upgraded shares of California Resources to a “strong-buy” rating in a report on Monday, December 9th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, California Resources has an average rating of “Moderate Buy” and an average target price of $66.92.

About California Resources

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.