James N. Chapman Acquires 2,000 Shares of California Resources Co. (NYSE:CRC) Stock

California Resources Co. (NYSE:CRC - Get Free Report) Director James N. Chapman purchased 2,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $39.42 per share, for a total transaction of $78,840.00. Following the transaction, the director now owns 43,445 shares of the company's stock, valued at $1,712,601.90. This trade represents a 4.83 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

California Resources Price Performance

Shares of NYSE:CRC traded up $0.66 during midday trading on Friday, hitting $41.63. The company's stock had a trading volume of 877,835 shares, compared to its average volume of 803,085. California Resources Co. has a 12-month low of $38.02 and a 12-month high of $60.41. The company has a market cap of $3.80 billion, a P/E ratio of 6.56, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The business's 50 day simple moving average is $49.34 and its 200 day simple moving average is $51.96. 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 (NYSE:CRC - Get Free Report) last released its quarterly earnings data 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 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. On average, analysts forecast that California Resources Co. will post 3.85 EPS for the current year.

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California Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 3.72%. The ex-dividend date is Monday, March 10th. California Resources's payout ratio is currently 24.41%.

Institutional Investors Weigh In On California Resources

Hedge funds and other institutional investors have 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 increased its position in shares of 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 increased its position in shares of 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 valued at $56,000 after acquiring an additional 454 shares during the last quarter. GAMMA Investing LLC increased its position in shares of California Resources by 22.8% during the fourth quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer's stock valued at $62,000 after acquiring an additional 222 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of California Resources during the third quarter valued at about $70,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. TD Cowen increased their price objective on shares of California Resources from $65.00 to $74.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Capital One Financial raised shares of California Resources to a "strong-buy" rating in a report on Monday, December 9th. StockNews.com raised shares of California Resources from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Truist Financial assumed coverage on shares of California Resources in a report on Monday, January 13th. They set a "buy" rating and a $75.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $70.00 price objective on shares of California Resources in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.