American Century Companies Inc. Purchases 290,263 Shares of California Resources Co. (NYSE:CRC)

American Century Companies Inc. boosted its position in shares of California Resources Co. (NYSE:CRC - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,327,712 shares of the oil and gas producer's stock after acquiring an additional 290,263 shares during the period. American Century Companies Inc. owned 2.55% of California Resources worth $120,785,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Atria Investments Inc acquired a new position in shares of California Resources during the third quarter worth approximately $209,000. Natixis Advisors LLC acquired a new position in California Resources during the 3rd quarter valued at $579,000. Swiss National Bank boosted its holdings in California Resources by 12.7% in the 3rd quarter. Swiss National Bank now owns 121,900 shares of the oil and gas producer's stock valued at $6,396,000 after purchasing an additional 13,700 shares during the period. Quest Partners LLC bought a new stake in California Resources in the 3rd quarter valued at $499,000. Finally, Intech Investment Management LLC acquired a new stake in California Resources in the 3rd quarter worth $902,000. 97.79% of the stock is currently owned by institutional investors.

California Resources Price Performance

Shares of California Resources stock traded down $0.28 during mid-day trading on Thursday, reaching $44.23. 759,891 shares of the stock were exchanged, compared to its average volume of 798,446. California Resources Co. has a fifty-two week low of $38.02 and a fifty-two week high of $60.41. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 6.96, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The firm has a 50-day simple moving average of $46.81 and a 200 day simple moving average of $51.21. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.

California Resources (NYSE:CRC - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.05). The firm had revenue of $877.00 million for the quarter, compared to analyst estimates of $901.36 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. On average, sell-side analysts predict that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a $0.3875 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.55 annualized dividend and a yield of 3.50%. California Resources's payout ratio is 37.71%.

Wall Street Analysts Forecast Growth

CRC has been the subject of several research reports. Truist Financial began coverage on shares of California Resources in a research note on Monday, January 13th. They issued a "buy" rating and a $75.00 target price for the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $68.00 price objective on shares of California Resources in a research report on Thursday. Barclays decreased their price objective on California Resources from $57.00 to $55.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. started coverage on California Resources in a research note on Friday, December 20th. They issued a "neutral" rating and a $63.00 target price for the company. Finally, Capital One Financial upgraded shares of California Resources to a "strong-buy" rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $66.92.

Insiders Place Their Bets

In other California Resources news, Director James N. Chapman purchased 2,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $39.42 per share, with a total value of $78,840.00. Following the completion of the acquisition, the director now directly owns 43,445 shares of the company's stock, valued at $1,712,601.90. This represents a 4.83 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.03% of the company's stock.

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.