California Resources Co. (NYSE:CRC) Shares Bought by Legal & General Group Plc

Legal & General Group Plc increased its stake in shares of California Resources Co. (NYSE:CRC - Free Report) by 9.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 194,937 shares of the oil and gas producer's stock after acquiring an additional 17,483 shares during the period. Legal & General Group Plc owned about 0.21% of California Resources worth $10,115,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CRC. Geode Capital Management LLC boosted its holdings in California Resources by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer's stock valued at $83,583,000 after purchasing an additional 55,815 shares during the period. Entropy Technologies LP acquired a new position in shares of California Resources in the 4th quarter worth approximately $841,000. Bank of New York Mellon Corp lifted its stake in shares of California Resources by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 739,057 shares of the oil and gas producer's stock valued at $38,350,000 after purchasing an additional 14,240 shares during the period. Thrivent Financial for Lutherans grew its position in shares of California Resources by 1.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 55,289 shares of the oil and gas producer's stock worth $2,869,000 after buying an additional 649 shares during the period. Finally, Empowered Funds LLC increased its position in California Resources by 84.3% in the 4th quarter. Empowered Funds LLC now owns 48,929 shares of the oil and gas producer's stock valued at $2,539,000 after buying an additional 22,383 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CRC has been the subject of a number of recent analyst reports. Citigroup downgraded shares of California Resources from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $62.00 to $36.00 in a research report on Monday, April 7th. Barclays reduced their target price on California Resources from $57.00 to $55.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. Truist Financial assumed coverage on shares of California Resources in a report on Monday, January 13th. They issued a "buy" rating and a $75.00 price target for the company. Finally, Royal Bank of Canada lowered their price objective on California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $63.83.

Insider Buying and Selling

In related news, Director James N. Chapman bought 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the purchase, the director now owns 43,445 shares in the company, valued at approximately $1,712,601.90. This represents a 4.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.03% of the stock is currently owned by company insiders.

California Resources Trading Up 0.1 %

Shares of NYSE CRC traded up $0.05 during midday trading on Wednesday, reaching $35.04. The company had a trading volume of 61,248 shares, compared to its average volume of 983,621. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.18 billion, a PE ratio of 5.52, a price-to-earnings-growth ratio of 1.02 and a beta of 1.03. California Resources Co. has a one year low of $30.97 and a one year high of $60.41. The firm's fifty day moving average price is $41.29 and its 200-day moving average price is $49.13.

California Resources (NYSE:CRC - Get Free Report) last announced its 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). The firm had revenue of $877.00 million during the quarter, compared to the consensus estimate of $901.36 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. On average, equities research analysts anticipate that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Monday, March 10th. California Resources's dividend payout ratio is presently 37.71%.

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.