California Resources Co. (NYSE:CRC) Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lessened its stake in California Resources Co. (NYSE:CRC) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 882,879 shares of the oil and gas producer’s stock after selling 54,400 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in California Resources were worth $45,813,000 as of its most recent SEC filing.

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

Insider Transactions at California Resources

In related news, Director James N. Chapman acquired 2,000 shares of California Resources stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $39.42 per share, for a total transaction 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. This represents a 4.83 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of California Resources in a report on Friday, December 20th. They issued a “neutral” rating and a $63.00 price objective for the company. Capital One Financial upgraded California Resources to a “strong-buy” rating in a research note on Monday, December 9th. Barclays reduced their price target on California Resources from $57.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of California Resources in a report on Thursday, March 27th. Finally, Truist Financial assumed coverage on California Resources in a research note on Monday, January 13th. They set a “buy” rating and a $75.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.92.

California Resources Stock Down 14.3 %

NYSE CRC opened at $34.80 on Friday. California Resources Co. has a one year low of $34.43 and a one year high of $60.41. 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 business has a fifty day moving average price of $45.26 and a 200 day moving average price of $50.89. The company has a market cap of $3.15 billion, a P/E ratio of 5.48, a P/E/G ratio of 1.02 and a beta of 1.03.

California Resources (NYSE:CRC) last posted 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 business had revenue of $877.00 million during the quarter, compared to analysts’ expectations 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 EPS for the current fiscal year.

California Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Monday, March 10th. California Resources’s dividend payout ratio (DPR) is 37.71%.

California Resources Company 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.