13,405 Shares in California Resources Co. (NYSE:CRC) Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. purchased a new position in California Resources Co. (NYSE:CRC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,405 shares of the oil and gas producer’s stock, valued at approximately $696,000.

A number of other large investors have also added to or reduced their stakes in CRC. R Squared Ltd bought a new stake in California Resources in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC boosted its holdings 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 valued at $53,000 after buying an additional 812 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of California Resources by 71.6% during the fourth 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 acquiring an additional 222 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in California Resources during the 3rd quarter valued at about $70,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CRC shares. Truist Financial began coverage on California Resources in a research report on Monday, January 13th. They issued a “buy” rating and a $75.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of California Resources in a research note on Tuesday, January 14th. Capital One Financial raised California Resources to a “strong-buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. began coverage on shares of California Resources in a research report on Friday, December 20th. They set a “neutral” rating and a $63.00 price objective on the stock. Finally, TD Cowen lifted their target price on California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.08.

California Resources Price Performance

CRC stock opened at $44.11 on Tuesday. California Resources Co. has a 1 year low of $38.02 and a 1 year high of $60.41. The firm has a market capitalization of $4.00 billion, a PE ratio of 6.95, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. The business has a 50 day simple moving average of $47.20 and a 200-day simple moving average of $51.29.

California Resources (NYSE:CRC) last issued its earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.05). California Resources had a return on equity of 12.16% and a net margin of 17.43%. The company had revenue of $877.00 million during the quarter, compared to analyst estimates of $901.36 million. Equities research analysts anticipate 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. Investors of record on Monday, March 10th were issued a $0.3875 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.55 annualized dividend and a yield of 3.51%. California Resources’s dividend payout ratio (DPR) is 37.71%.

Insider Buying and Selling

In other news, Director James N. Chapman bought 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $39.42 per share, for a total transaction of $78,840.00. Following the completion of the purchase, the director now owns 43,445 shares in the company, valued at approximately $1,712,601.90. This trade represents a 4.83 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.03% of the stock is owned by 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.