Dynamic Technology Lab Private Ltd Purchases New Position in California Resources Co. (NYSE:CRC)

Dynamic Technology Lab Private Ltd acquired a new position in shares of California Resources Co. (NYSE:CRC) during the 4th quarter, Holdings Channel.com reports. The firm acquired 28,520 shares of the oil and gas producer’s stock, valued at approximately $1,480,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new position in shares of California Resources during the 4th quarter worth $31,000. Smartleaf Asset Management LLC lifted its stake in California Resources by 331.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer’s stock worth $53,000 after acquiring an additional 812 shares during the period. Nisa Investment Advisors LLC grew its holdings 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 acquiring an additional 454 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of California Resources by 22.8% in the 4th 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 in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of California Resources in the 3rd quarter worth approximately $70,000. 97.79% of the stock is owned by institutional investors.

California Resources Stock Down 14.3 %

NYSE:CRC opened at $34.80 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 twelve month low of $34.43 and a twelve month high of $60.41. The company has a market cap of $3.15 billion, a PE ratio of 5.48, a P/E/G ratio of 1.02 and a beta of 1.03. The company’s 50 day moving average is $45.26 and its two-hundred day moving average is $50.89.

California Resources (NYSE:CRC) last released its earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 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 firm had revenue of $877.00 million for the quarter, compared to analyst estimates of $901.36 million. Analysts anticipate that California Resources Co. will post 3.85 EPS for the current year.

California Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 4.45%. The ex-dividend date was Monday, March 10th. California Resources’s payout ratio is currently 37.71%.

Analyst Ratings Changes

Several brokerages recently issued reports on CRC. Barclays cut 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 report on Wednesday, March 5th. Capital One Financial upgraded California Resources to a “strong-buy” rating in a report on Monday, December 9th. 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 objective for the company. Truist Financial initiated coverage on California Resources in a research note on Monday, January 13th. They issued a “buy” rating and a $75.00 target price on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $68.00 price target on shares of California Resources in a research report on Thursday, March 27th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.92.

Insider Activity

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. Insiders own 0.03% of the company’s stock.

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.