Edgestream Partners L.P. Takes Position in California Resources Co. (NYSE:CRC)

Edgestream Partners L.P. purchased a new stake in shares of California Resources Co. (NYSE:CRC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 151,939 shares of the oil and gas producer's stock, valued at approximately $7,884,000. Edgestream Partners L.P. owned approximately 0.17% of California Resources at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in California Resources during the 3rd quarter valued at $682,000. Swiss National Bank increased its stake in California Resources by 12.7% during 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 in the last quarter. Geode Capital Management LLC increased its stake in California Resources by 3.6% during 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 in the last quarter. Natixis Advisors LLC bought a new stake in California Resources during the 3rd quarter valued at $579,000. Finally, State Street Corp increased its stake in California Resources by 5.1% during the 3rd quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer's stock valued at $181,021,000 after purchasing an additional 168,278 shares in the last quarter. Institutional investors own 97.79% of the company's stock.

California Resources Stock Up 1.6 %

California Resources stock traded up $0.66 on Friday, hitting $41.63. 877,835 shares of the stock traded hands, compared to its average volume of 789,468. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.80 billion, a P/E ratio of 6.56, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The business's fifty day simple moving average is $49.17 and its 200 day simple moving average is $51.92. California Resources Co. has a 1 year low of $38.02 and a 1 year high of $60.41.

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California Resources (NYSE:CRC - Get Free Report) last released its quarterly earnings data 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 business 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%. As a group, sell-side analysts forecast that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.3875 per share. The ex-dividend date is Monday, March 10th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.72%. California Resources's dividend payout ratio is currently 24.41%.

Insider Buying and Selling at California Resources

In related news, Director James N. Chapman acquired 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were purchased 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Omar Hayat sold 16,016 shares of California Resources stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $55.18, for a total value of $883,762.88. Following the transaction, the executive vice president now directly owns 30,940 shares in the company, valued at approximately $1,707,269.20. The trade was a 34.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CRC shares. Truist Financial started 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. StockNews.com upgraded shares of California Resources from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Capital One Financial upgraded shares of California Resources to a "strong-buy" rating in a research note on Monday, December 9th. JPMorgan Chase & Co. started coverage on shares of 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, Royal Bank of Canada reiterated an "outperform" rating and issued a $70.00 target price on shares of California Resources in a research note on Tuesday, January 14th. Three research 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 stock. According to data from MarketBeat.com, California Resources presently has an average rating of "Moderate Buy" and a consensus price target of $67.08.

California Resources 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.