California Resources Co. (NYSE:CRC) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its stake in California Resources Co. (NYSE:CRC) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,289 shares of the oil and gas producer’s stock after buying an additional 649 shares during the period. Thrivent Financial for Lutherans owned approximately 0.06% of California Resources worth $2,869,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of California Resources in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC boosted its stake in 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 grew its position in 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 worth $56,000 after purchasing an additional 454 shares during the last quarter. GAMMA Investing LLC increased its stake 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 valued at $62,000 after purchasing an additional 222 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of California Resources in the third quarter valued at about $70,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Analyst Ratings Changes

CRC has been the topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price target on shares of California Resources in a research report on Tuesday, January 14th. JPMorgan Chase & Co. initiated 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. Barclays lowered their price objective on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Truist Financial started 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 raised shares of California Resources to a “strong-buy” rating in a 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.08.

Insider Activity at California Resources

In other California Resources news, Director James N. Chapman bought 2,000 shares of California Resources stock in a transaction that occurred 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 owns 43,445 shares of the company’s stock, valued at $1,712,601.90. This represents a 4.83 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.

California Resources Price Performance

California Resources stock opened at $44.55 on Thursday. California Resources Co. has a 52 week low of $38.02 and a 52 week high of $60.41. The firm has a market capitalization of $4.04 billion, a PE ratio of 7.02, a P/E/G ratio of 1.02 and a beta of 1.06. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The firm’s 50-day simple moving average is $46.81 and its 200 day simple moving average is $51.21.

California Resources (NYSE:CRC) last issued its quarterly earnings data on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share (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%. On average, equities research analysts predict that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Monday, March 10th. California Resources’s dividend payout ratio is presently 37.71%.

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.