O Shaughnessy Asset Management LLC Purchases 372 Shares of California Resources Co. (NYSE:CRC)

O Shaughnessy Asset Management LLC raised its position in California Resources Co. (NYSE:CRC) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,929 shares of the oil and gas producer’s stock after acquiring an additional 372 shares during the period. O Shaughnessy Asset Management LLC’s holdings in California Resources were worth $360,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of California Resources by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 9,345,789 shares of the oil and gas producer’s stock worth $484,953,000 after purchasing an additional 225,620 shares in the last quarter. State Street Corp raised its stake in California Resources by 5.1% in the third quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock valued at $181,021,000 after buying an additional 168,278 shares during the last quarter. American Century Companies Inc. boosted its holdings in California Resources by 14.2% in the fourth quarter. American Century Companies Inc. now owns 2,327,712 shares of the oil and gas producer’s stock worth $120,785,000 after acquiring an additional 290,263 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of California Resources by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer’s stock worth $83,583,000 after acquiring an additional 55,815 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of California Resources by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,031,816 shares of the oil and gas producer’s stock worth $53,541,000 after acquiring an additional 57,614 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at California Resources

In other California Resources news, Director James N. Chapman acquired 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $39.42 per share, with a total value of $78,840.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRC. Barclays lowered their target price on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Citigroup downgraded shares of California Resources from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $62.00 to $36.00 in a research note on Monday. Truist Financial initiated coverage on California Resources in a research report on Monday, January 13th. They issued a “buy” rating and a $75.00 target price on the stock. Royal Bank of Canada reduced their target price on California Resources from $68.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. began coverage on California Resources in a research note on Friday, December 20th. They set a “neutral” rating and a $63.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.83.

California Resources Trading Up 2.5 %

Shares of NYSE:CRC opened at $34.32 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. California Resources Co. has a 12-month low of $30.97 and a 12-month high of $60.41. The business has a 50 day moving average of $43.04 and a two-hundred day moving average of $49.99. The company has a market capitalization of $3.11 billion, a PE ratio of 5.40, a PEG ratio of 1.02 and a beta of 1.03.

California Resources (NYSE:CRC) last posted its 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%. As a group, analysts forecast that California Resources Co. will post 3.85 EPS for the current year.

California Resources Dividend Announcement

The firm also recently announced 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 4.52%. The ex-dividend date was Monday, March 10th. California Resources’s dividend payout ratio (DPR) is presently 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.