DRW Securities LLC Takes $1.92 Million Position in California Resources Co. (NYSE:CRC)

DRW Securities LLC bought a new position in shares of California Resources Co. (NYSE:CRC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 37,000 shares of the oil and gas producer's stock, valued at approximately $1,920,000.

Several other institutional investors also recently bought and sold shares of CRC. Yousif Capital Management LLC raised its holdings in California Resources by 0.7% in the 4th quarter. Yousif Capital Management LLC now owns 26,924 shares of the oil and gas producer's stock worth $1,397,000 after acquiring an additional 196 shares during the period. GAMMA Investing LLC boosted its holdings in 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 purchasing an additional 222 shares in the last quarter. Arizona State Retirement System raised its stake in California Resources by 1.2% during the fourth quarter. Arizona State Retirement System now owns 18,199 shares of the oil and gas producer's stock worth $944,000 after acquiring an additional 222 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of California Resources by 3.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 10,835 shares of the oil and gas producer's stock valued at $562,000 after acquiring an additional 371 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of California Resources by 5.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,929 shares of the oil and gas producer's stock valued at $360,000 after purchasing an additional 372 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CRC. Royal Bank of Canada cut their target price on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday. Truist Financial initiated coverage on California Resources in a research report on Monday, January 13th. They issued a "buy" rating and a $75.00 price target on the stock. Barclays lowered their target price on shares of California Resources from $57.00 to $55.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. began coverage on California Resources in a research report on Friday, December 20th. They set a "neutral" rating and a $63.00 price target on the stock. Finally, Citigroup lowered California Resources from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $62.00 to $36.00 in a research report on Monday, April 7th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, California Resources has a consensus rating of "Moderate Buy" and a consensus target price of $63.83.

California Resources Stock Down 1.0 %

NYSE:CRC traded down $0.33 on Monday, hitting $34.00. 152,361 shares of the company's stock were exchanged, compared to its average volume of 847,553. The firm has a 50-day moving average price of $43.04 and a 200-day moving average price of $49.99. California Resources Co. has a 52 week low of $30.97 and a 52 week 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. The company has a market cap of $3.08 billion, a P/E ratio of 5.35, a price-to-earnings-growth ratio of 1.02 and a beta of 1.03.

California Resources (NYSE:CRC - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.05). The company had revenue of $877.00 million for 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, analysts expect that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Monday, March 10th. California Resources's dividend payout ratio is 37.71%.

Insider Buying and Selling

In other news, Director James N. Chapman bought 2,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost 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 represents a 4.83 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is currently 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.