Fox Run Management L.L.C. Purchases New Position in California Resources Co. (NYSE:CRC)

Fox Run Management L.L.C. acquired a new position in shares of California Resources Co. (NYSE:CRC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,405 shares of the oil and gas producer’s stock, valued at approximately $696,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRC. R Squared Ltd acquired a new position in California Resources during the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC increased its holdings in shares of California Resources by 331.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 812 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of California Resources by 71.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer’s stock valued at $56,000 after acquiring an additional 454 shares during the period. GAMMA Investing LLC raised its position in 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 during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in California Resources during the 3rd quarter worth $70,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Transactions at California Resources

In other news, Director James N. Chapman purchased 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the transaction, the director now owns 43,445 shares in the company, valued at $1,712,601.90. This trade represents a 4.83 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.03% of the company’s stock.

California Resources Trading Up 0.8 %

CRC opened at $44.11 on Tuesday. The firm’s fifty day moving average price is $47.20 and its 200 day moving average price is $51.29. The stock has a market capitalization of $4.00 billion, a PE ratio of 6.95, a P/E/G ratio of 1.02 and a beta of 1.06. California Resources Co. has a 12-month low of $38.02 and a 12-month high of $60.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89.

California Resources (NYSE:CRC) last posted 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). California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm had revenue of $877.00 million for the quarter, compared to analyst estimates of $901.36 million. As a group, research analysts expect that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, March 10th. This represents a $1.55 annualized dividend and a dividend yield of 3.51%. California Resources’s dividend payout ratio is presently 37.71%.

Analyst Ratings Changes

A number of research firms have weighed in on CRC. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of California Resources in a research report on Tuesday, January 14th. Capital One Financial upgraded shares of California Resources to a “strong-buy” rating in a research report on Monday, December 9th. TD Cowen boosted their price target on shares of California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Truist Financial started coverage on shares of California Resources in a research report on Monday, January 13th. They issued a “buy” rating and a $75.00 price objective for the company. Finally, JPMorgan Chase & Co. assumed coverage on California Resources in a research report on Friday, December 20th. They set a “neutral” rating and a $63.00 target price on the stock. Three equities 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. According to data from MarketBeat, California Resources presently has an average rating of “Moderate Buy” and an average price target of $67.08.

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.