Xponance Inc. Purchases 426 Shares of California Resources Co. (NYSE:CRC)

Xponance Inc. grew its position in California Resources Co. (NYSE:CRC) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,929 shares of the oil and gas producer’s stock after acquiring an additional 426 shares during the period. Xponance Inc.’s holdings in California Resources were worth $256,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Yousif Capital Management LLC raised its position in California Resources by 0.7% in 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 purchasing an additional 196 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 222 shares during the last quarter. Arizona State Retirement System lifted its position 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 worth $944,000 after buying an additional 222 shares in the last quarter. Mutual of America Capital Management LLC lifted its position 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 worth $562,000 after buying an additional 371 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in California Resources by 2.5% in 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 acquiring an additional 416 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. 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 target price on the stock. Truist Financial assumed coverage on California Resources in a report on Monday, January 13th. They set a “buy” rating and a $75.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $68.00 target price on shares of California Resources in a research report on Thursday. Capital One Financial upgraded California Resources to a “strong-buy” rating in a report on Monday, December 9th. Finally, Barclays dropped their price objective 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. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.92.

California Resources Stock Down 1.0 %

Shares of NYSE CRC opened at $43.80 on Friday. California Resources Co. has a 52-week low of $38.02 and a 52-week 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 stock has a market cap of $3.97 billion, a P/E ratio of 6.90, a P/E/G ratio of 1.02 and a beta of 1.06. The firm has a 50 day moving average price of $46.42 and a 200 day moving average price of $51.14.

California Resources (NYSE:CRC) last announced its quarterly earnings results 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 firm had revenue of $877.00 million during the quarter, compared to analyst estimates of $901.36 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. Analysts expect that California Resources Co. will post 3.85 EPS for the current year.

California Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Monday, March 10th. California Resources’s dividend payout ratio is currently 37.71%.

Insider Activity

In related news, Director James N. Chapman acquired 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was bought 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 directly owns 43,445 shares of the company’s stock, valued at approximately $1,712,601.90. The trade was a 4.83 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is currently owned by company insiders.

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.