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

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of California Resources in the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC lifted its position 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 valued at $53,000 after acquiring an additional 812 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in California Resources by 71.6% in the fourth 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 in the last quarter. GAMMA Investing LLC grew its holdings in California Resources by 22.8% in the fourth quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer's stock worth $62,000 after purchasing an additional 222 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of California Resources during the third quarter worth $70,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CRC shares. Truist Financial started coverage on California Resources in a research note on Monday, January 13th. They set a "buy" rating and a $75.00 target price on the stock. Capital One Financial upgraded California Resources to a "strong-buy" rating in a research note on Monday, December 9th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $68.00 price objective on shares of California Resources in a research report on Thursday. Barclays dropped their target price on shares of California Resources from $57.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. assumed coverage on shares of California Resources in a report on Friday, December 20th. They issued a "neutral" rating and a $63.00 price target for the company. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.92.

California Resources Stock Performance

CRC traded down $0.44 during midday trading on Friday, hitting $43.80. 898,592 shares of the company were exchanged, compared to its average volume of 835,682. California Resources Co. has a 1-year low of $38.02 and a 1-year high of $60.41. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 6.90, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The company's 50 day simple moving average is $46.42 and its 200 day simple moving average is $51.14.

California Resources (NYSE:CRC - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.96 by ($0.05). The company 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, sell-side analysts predict that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Monday, March 10th. California Resources's dividend payout ratio (DPR) is presently 37.71%.

Insider Buying and Selling at California Resources

In other California Resources news, Director James N. Chapman bought 2,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the transaction, the director now directly owns 43,445 shares of the company's stock, valued at approximately $1,712,601.90. The trade was a 4.83 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by corporate 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.