Empowered Funds LLC Has $2.54 Million Stake in California Resources Co. (NYSE:CRC)

Empowered Funds LLC lifted its position in California Resources Co. (NYSE:CRC - Free Report) by 84.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,929 shares of the oil and gas producer's stock after buying an additional 22,383 shares during the quarter. Empowered Funds LLC owned about 0.05% of California Resources worth $2,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd bought a new position in shares of California Resources in the fourth quarter valued at $31,000. GAMMA Investing LLC boosted its position in California Resources by 61.5% during the third quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer's stock worth $51,000 after purchasing an additional 371 shares during the period. Nisa Investment Advisors LLC boosted its position in 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 worth $56,000 after purchasing an additional 454 shares during the period. Point72 DIFC Ltd bought a new position in California Resources during the third quarter worth $70,000. Finally, Blue Trust Inc. boosted its position in California Resources by 518.4% during the fourth quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer's stock worth $88,000 after purchasing an additional 1,410 shares during the period. 97.79% of the stock is owned by institutional investors.

California Resources Price Performance

CRC stock traded up $2.01 during midday trading on Monday, reaching $48.30. The company had a trading volume of 1,013,884 shares, compared to its average volume of 623,661. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 0.98 and a beta of 1.04. The stock has a 50 day moving average price of $51.48 and a 200-day moving average price of $52.29. California Resources Co. has a 1-year low of $43.09 and a 1-year high of $60.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89.

Wall Street Analysts Forecast Growth

CRC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of California Resources in a research report on Friday, December 20th. They set a "neutral" rating and a $63.00 price objective for the company. StockNews.com raised shares of California Resources from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Capital One Financial raised shares of California Resources to a "strong-buy" rating in a research report on Monday, December 9th. Stephens started coverage on shares of California Resources in a research report on Tuesday, October 22nd. They set an "overweight" rating and a $73.00 price objective for the company. Finally, Truist Financial started coverage on shares of California Resources in a research report on Monday, January 13th. They issued a "buy" rating and a $75.00 target price for the company. Three 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $67.25.

Insider Activity at California Resources

In related news, EVP Omar Hayat sold 16,016 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $55.18, for a total value of $883,762.88. Following the completion of the transaction, the executive vice president now owns 30,940 shares of the company's stock, valued at $1,707,269.20. The trade was a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.03% of the stock is owned by insiders.

California Resources Company 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.