Clayton Partners LLC Boosts Holdings in California Resources Co. (NYSE:CRC)

Clayton Partners LLC lifted its position in California Resources Co. (NYSE:CRC - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,657 shares of the oil and gas producer's stock after acquiring an additional 15,900 shares during the period. California Resources comprises approximately 5.0% of Clayton Partners LLC's holdings, making the stock its 3rd largest position. Clayton Partners LLC owned approximately 0.15% of California Resources worth $7,195,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CRC. Natixis Advisors LLC raised its position in California Resources by 10.2% during the fourth quarter. Natixis Advisors LLC now owns 12,164 shares of the oil and gas producer's stock valued at $631,000 after buying an additional 1,122 shares during the period. Swiss National Bank grew its stake in California Resources by 1.1% during the 4th quarter. Swiss National Bank now owns 123,300 shares of the oil and gas producer's stock valued at $6,398,000 after acquiring an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of California Resources by 37.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,930 shares of the oil and gas producer's stock valued at $878,000 after purchasing an additional 4,613 shares during the period. AlphaQuest LLC lifted its position in shares of California Resources by 47.2% in the fourth quarter. AlphaQuest LLC now owns 14,007 shares of the oil and gas producer's stock worth $727,000 after purchasing an additional 4,489 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of California Resources during the fourth quarter worth approximately $7,884,000. Institutional investors and hedge funds own 97.79% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $70.00 price objective on shares of California Resources in a research note on Tuesday, January 14th. TD Cowen upped their price target on shares of California Resources from $65.00 to $74.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Truist Financial assumed coverage on California Resources in a report on Monday, January 13th. They set a "buy" rating and a $75.00 price objective for the company. Capital One Financial upgraded California Resources to a "strong-buy" rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. initiated coverage on California Resources in a research note on Friday, December 20th. They set a "neutral" rating and a $63.00 price target for the company. Three investment 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's stock. According to MarketBeat, California Resources presently has an average rating of "Moderate Buy" and an average target price of $67.08.

California Resources Stock Performance

CRC stock traded down $0.49 during midday trading on Thursday, hitting $44.34. 1,013,628 shares of the company traded hands, compared to its average volume of 756,059. California Resources Co. has a twelve month low of $38.02 and a twelve month high of $60.41. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 6.98, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. 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 business has a 50 day simple moving average of $47.75 and a 200-day simple moving average of $51.41.

California Resources (NYSE:CRC - Get Free Report) last posted its 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 firm 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, equities research analysts predict that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Dividend Announcement

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

Insider Buying and Selling

In other California Resources news, Director James N. Chapman purchased 2,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $39.42 per share, with a total value of $78,840.00. Following the transaction, the director now directly owns 43,445 shares in the company, valued at approximately $1,712,601.90. This represents a 4.83 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.63% 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.