Bfsg LLC Sells 360 Shares of California Resources Co. (NYSE:CRC)

Bfsg LLC trimmed its holdings in California Resources Co. (NYSE:CRC) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,109 shares of the oil and gas producer’s stock after selling 360 shares during the period. Bfsg LLC’s holdings in California Resources were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in shares of California Resources in the third quarter valued at $682,000. Swiss National Bank lifted its stake in shares of California Resources by 12.7% in the third quarter. Swiss National Bank now owns 121,900 shares of the oil and gas producer’s stock valued at $6,396,000 after buying an additional 13,700 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of California Resources by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer’s stock valued at $83,583,000 after buying an additional 55,815 shares in the last quarter. Natixis Advisors LLC bought a new position in shares of California Resources in the third quarter valued at $579,000. Finally, State Street Corp lifted its stake in shares of California Resources by 5.1% in the third 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 in the last quarter. 97.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CRC shares. StockNews.com raised shares of California Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Stephens initiated coverage on shares of California Resources in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target on shares of California Resources in a research report on Tuesday, January 14th. JPMorgan Chase & Co. initiated coverage on shares of California Resources in a research report on Friday, December 20th. They set a “neutral” rating and a $63.00 price target on the stock. Finally, 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 target on the stock. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.25.

California Resources Stock Performance

NYSE CRC opened at $48.20 on Wednesday. California Resources Co. has a 52-week low of $43.09 and a 52-week high of $60.41. The company has a 50-day simple moving average of $51.35 and a 200 day simple moving average of $52.30. 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 company has a market capitalization of $4.40 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 0.98 and a beta of 1.04.

Insider Buying and Selling

In other news, EVP Omar Hayat sold 16,016 shares of California Resources stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $55.18, for a total value of $883,762.88. Following the completion of the transaction, the executive vice president now owns 30,940 shares in the company, valued at $1,707,269.20. This trade represents a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is currently owned by corporate insiders.

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.