5,000 Shares in California Resources Co. (NYSE:CRC) Purchased by Maven Securities LTD

Maven Securities LTD acquired a new position in shares of California Resources Co. (NYSE:CRC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,000 shares of the oil and gas producer’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in California Resources during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC boosted its stake in California Resources by 331.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 812 shares during the period. Nisa Investment Advisors LLC boosted its stake in California Resources by 71.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer’s stock worth $56,000 after buying an additional 454 shares during the period. Lazard Asset Management LLC boosted its stake in California Resources by 52,366.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,574 shares of the oil and gas producer’s stock worth $81,000 after buying an additional 1,571 shares during the period. Finally, Blue Trust Inc. boosted its stake in California Resources by 518.4% during the fourth quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer’s stock worth $88,000 after buying an additional 1,410 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director James N. Chapman purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $39.42 per share, for a total transaction of $78,840.00. Following the completion of the purchase, the director now directly owns 43,445 shares of the company’s stock, valued at $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 SEC, which can be accessed through this link. 0.03% of the stock is owned by insiders.

California Resources Trading Up 3.9%

NYSE CRC opened at $43.81 on Wednesday. The firm has a 50 day simple moving average of $38.95 and a 200-day simple moving average of $47.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. California Resources Co. has a one year low of $30.97 and a one year high of $60.41. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 1.02 and a beta of 1.06.

California Resources (NYSE:CRC) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.24. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The company had revenue of $912.00 million during the quarter, compared to the consensus estimate of $862.14 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was up 100.9% on a year-over-year basis. Equities research analysts anticipate that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.3875 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.55 dividend on an annualized basis and a yield of 3.54%. California Resources’s dividend payout ratio is currently 28.13%.

Analysts Set New Price Targets

CRC has been the subject of several research analyst reports. UBS Group increased their target price on shares of California Resources from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Roth Capital reaffirmed a “buy” rating on shares of California Resources in a research note on Wednesday, May 7th. StockNews.com raised shares of California Resources from a “hold” rating to a “buy” rating in a research note on Monday. Mizuho lowered their target price on shares of California Resources from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Truist Financial raised shares of California Resources to a “strong-buy” rating in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.64.

California Resources 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.