California Resources Co. (NYSE:CRC) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in California Resources Co. (NYSE:CRC - Free Report) by 89.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,047 shares of the oil and gas producer's stock after selling 179,328 shares during the period. Federated Hermes Inc.'s holdings in California Resources were worth $1,092,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Yousif Capital Management LLC raised its position in California Resources by 0.7% during the 4th quarter. Yousif Capital Management LLC now owns 26,924 shares of the oil and gas producer's stock valued at $1,397,000 after purchasing an additional 196 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of 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 valued at $944,000 after buying an additional 222 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of California Resources by 3.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 10,835 shares of the oil and gas producer's stock worth $562,000 after purchasing an additional 371 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of California Resources by 5.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,929 shares of the oil and gas producer's stock worth $360,000 after buying an additional 372 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CRC. Truist Financial initiated coverage on shares of California Resources in a research note on Monday, January 13th. They set a "buy" rating and a $75.00 target price for the company. Royal Bank of Canada decreased their target price on California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Citigroup cut California Resources from a "buy" rating to a "neutral" rating and cut their price target for the company from $62.00 to $36.00 in a report on Monday, April 7th. JPMorgan Chase & Co. initiated coverage on California Resources in a research report on Friday, December 20th. They set a "neutral" rating and a $63.00 target price on the stock. Finally, Barclays reduced their price objective on shares of California Resources from $57.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $63.83.

Insider Buying and Selling

In other California Resources news, Director James N. Chapman acquired 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the transaction, the director now directly owns 43,445 shares of the company's stock, valued at approximately $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 link. 0.03% of the stock is currently owned by corporate insiders.

California Resources Stock Up 3.0 %

CRC traded up $1.02 on Friday, hitting $35.65. 528,667 shares of the company were exchanged, compared to its average volume of 852,241. California Resources Co. has a twelve month low of $30.97 and a twelve month high of $60.41. The firm has a 50-day moving average price of $41.75 and a two-hundred day moving average price of $49.42. 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 company has a market cap of $3.23 billion, a price-to-earnings ratio of 5.61, a price-to-earnings-growth ratio of 1.02 and a beta of 1.03.

California Resources (NYSE:CRC - Get Free Report) last announced 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). California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm had revenue of $877.00 million during the quarter, compared to analyst estimates of $901.36 million. On average, equities analysts predict that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Monday, March 10th. California Resources's dividend payout ratio is presently 37.71%.

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.