California Resources Co. (NYSE:CRC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its stake in California Resources Co. (NYSE:CRC) by 3.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 36,400 shares of the oil and gas producer’s stock after selling 1,382 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in California Resources were worth $1,889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRC. Weiss Asset Management LP purchased a new stake in California Resources in the 3rd quarter worth approximately $28,043,000. State Street Corp boosted its holdings in California Resources by 5.1% during the third quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock worth $181,021,000 after buying an additional 168,278 shares in the last quarter. Vest Financial LLC boosted its holdings in California Resources by 27.8% during the fourth quarter. Vest Financial LLC now owns 688,746 shares of the oil and gas producer’s stock worth $35,739,000 after buying an additional 149,737 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in California Resources by 8.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 974,202 shares of the oil and gas producer’s stock valued at $51,116,000 after buying an additional 75,606 shares during the period. Finally, Jennison Associates LLC increased its holdings in California Resources by 41.9% in the fourth quarter. Jennison Associates LLC now owns 214,436 shares of the oil and gas producer’s stock valued at $11,127,000 after buying an additional 63,338 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at California Resources

In related news, EVP Omar Hayat sold 16,016 shares of California Resources stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total transaction of $883,762.88. Following the transaction, the executive vice president now owns 30,940 shares in the company, valued at approximately $1,707,269.20. This trade represents a 34.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of California Resources in a research note on Friday, December 20th. They set a “neutral” rating and a $63.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price target on shares of California Resources in a research report on Tuesday, January 14th. Capital One Financial upgraded California Resources to a “strong-buy” rating in a research report on Monday, December 9th. StockNews.com upgraded California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Truist Financial began coverage on shares of California Resources in a report on Monday, January 13th. They issued a “buy” rating and a $75.00 price target for the company. 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.25.

California Resources Price Performance

California Resources stock opened at $46.54 on Tuesday. The company has a fifty day simple moving average of $50.76 and a 200-day simple moving average of $52.37. 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 has a market capitalization of $4.25 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 1.02 and a beta of 1.04. California Resources Co. has a 52-week low of $43.09 and a 52-week high of $60.41.

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.