California Resources Co. (NYSE:CRC) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in shares of California Resources Co. (NYSE:CRC) by 57.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,087 shares of the oil and gas producer’s stock after buying an additional 9,891 shares during the period. Intech Investment Management LLC’s holdings in California Resources were worth $1,406,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Yousif Capital Management LLC increased its stake in California Resources by 0.7% during the 4th quarter. Yousif Capital Management LLC now owns 26,924 shares of the oil and gas producer’s stock valued at $1,397,000 after buying an additional 196 shares during the period. GAMMA Investing LLC increased its stake in California Resources by 22.8% during the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer’s stock valued at $62,000 after buying an additional 222 shares during the period. Arizona State Retirement System increased its stake in California Resources by 1.2% during the 4th quarter. Arizona State Retirement System now owns 18,199 shares of the oil and gas producer’s stock valued at $944,000 after buying an additional 222 shares during the period. Mutual of America Capital Management LLC increased its stake in California Resources by 3.5% during the 4th quarter. Mutual of America Capital Management LLC now owns 10,835 shares of the oil and gas producer’s stock valued at $562,000 after buying an additional 371 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in California Resources by 2.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,833 shares of the oil and gas producer’s stock valued at $873,000 after buying an additional 416 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.

Analyst Ratings Changes

CRC has been the topic of several research analyst reports. TD Cowen raised their target price on shares of California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Barclays reduced 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 research report on Wednesday, March 5th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of California Resources in a research report on Tuesday, January 14th. Truist Financial initiated coverage on shares of California Resources in a research report on Monday, January 13th. They set a “buy” rating and a $75.00 price objective for the company. Finally, Capital One Financial upgraded shares of California Resources to a “strong-buy” rating in a research report on Monday, December 9th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, California Resources currently has an average rating of “Moderate Buy” and a consensus target price of $67.08.

California Resources Stock Performance

CRC stock opened at $43.71 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The stock has a market cap of $3.97 billion, a P/E ratio of 6.88, a P/E/G ratio of 1.02 and a beta of 1.06. The firm has a 50 day simple moving average of $47.40 and a 200 day simple moving average of $51.30. California Resources Co. has a 52 week low of $38.02 and a 52 week high of $60.41.

California Resources (NYSE:CRC) last posted its quarterly earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 EPS 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 analyst estimates of $901.36 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. Research analysts anticipate that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

California Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Monday, March 10th. California Resources’s dividend payout ratio is currently 37.71%.

Insider Buying and Selling

In other California Resources news, Director James N. Chapman acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $39.42 per share, with a total value of $78,840.00. Following the completion of the transaction, the director now owns 43,445 shares in the company, valued at $1,712,601.90. The trade was a 4.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

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.