6,000 Shares in California Resources Co. (NYSE:CRC) Bought by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC bought a new position in shares of California Resources Co. (NYSE:CRC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 6,000 shares of the oil and gas producer’s stock, valued at approximately $311,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in California Resources by 2.5% during 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 buying an additional 225,620 shares during the period. First Trust Advisors LP lifted its holdings in California Resources by 14.2% during the 4th quarter. First Trust Advisors LP now owns 6,818,266 shares of the oil and gas producer’s stock worth $353,800,000 after buying an additional 845,694 shares during the period. American Century Companies Inc. lifted its holdings in California Resources by 14.2% during the 4th quarter. American Century Companies Inc. now owns 2,327,712 shares of the oil and gas producer’s stock worth $120,785,000 after buying an additional 290,263 shares during the period. Geode Capital Management LLC lifted its holdings in California Resources by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,605,779 shares of the oil and gas producer’s stock worth $83,344,000 after buying an additional 13,116 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in California Resources by 5.9% during the 4th 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 buying an additional 57,614 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

California Resources Stock Down 1.3%

CRC stock opened at $42.61 on Monday. The stock’s 50 day simple moving average is $39.01 and its 200 day simple moving average is $47.34. California Resources Co. has a fifty-two week low of $30.97 and a fifty-two week high of $60.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The company has a market cap of $3.80 billion, a P/E ratio of 6.71, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06.

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

California Resources Announces Dividend

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 dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Friday, May 30th. California Resources’s dividend payout ratio (DPR) is currently 28.13%.

Analyst Ratings Changes

Several research analysts have commented on CRC shares. Citigroup downgraded California Resources from a “buy” rating to a “neutral” rating and cut their target price for the stock from $62.00 to $36.00 in a report on Monday, April 7th. Barclays boosted their price objective on California Resources from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Truist Financial raised California Resources to a “strong-buy” rating in a research note on Tuesday, May 6th. Bank of America dropped their price objective on California Resources from $64.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Finally, StockNews.com raised California Resources from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.64.

Insider Buying and Selling

In related news, Director James N. Chapman acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost of $39.42 per share, with a total value of $78,840.00. Following the acquisition, the director now owns 43,445 shares of the company’s stock, valued at approximately $1,712,601.90. This trade represents a 4.83% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.03% of the stock is owned by company insiders.

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.