GSA Capital Partners LLP Purchases Shares of 12,990 California Resources Co. (NYSE:CRC)

GSA Capital Partners LLP purchased a new stake in California Resources Co. (NYSE:CRC - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 12,990 shares of the oil and gas producer's stock, valued at approximately $682,000.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of California Resources by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 8,100,283 shares of the oil and gas producer's stock valued at $446,326,000 after acquiring an additional 344,043 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of California Resources by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,576,306 shares of the oil and gas producer's stock valued at $190,328,000 after acquiring an additional 165,629 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of California Resources by 18.1% in the 2nd quarter. American Century Companies Inc. now owns 1,631,432 shares of the oil and gas producer's stock valued at $86,825,000 after acquiring an additional 250,367 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of California Resources by 10.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,078,123 shares of the oil and gas producer's stock valued at $57,378,000 after acquiring an additional 104,504 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in California Resources by 2,615.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,011 shares of the oil and gas producer's stock worth $44,865,000 after buying an additional 811,963 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company's stock.

Insider Activity

In other California Resources news, VP Noelle M. Repetti sold 8,770 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.75, for a total transaction of $488,927.50. Following the completion of the sale, the vice president now owns 8,531 shares of the company's stock, valued at approximately $475,603.25. The trade was a 50.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Francisco Leon sold 7,500 shares of the business's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $49.18, for a total value of $368,850.00. Following the sale, the chief executive officer now directly owns 166,357 shares of the company's stock, valued at approximately $8,181,437.26. This trade represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,270 shares of company stock valued at $1,387,778 over the last quarter. Company insiders own 0.03% of the company's stock.

California Resources Price Performance

California Resources stock traded up $0.70 during mid-day trading on Monday, hitting $57.28. 426,730 shares of the company were exchanged, compared to its average volume of 849,801. 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 business's 50 day simple moving average is $53.06 and its two-hundred day simple moving average is $50.90. The company has a market capitalization of $3.89 billion, a P/E ratio of 9.02, a PEG ratio of 1.40 and a beta of 0.98. California Resources Co. has a 12-month low of $43.09 and a 12-month high of $60.41.

California Resources (NYSE:CRC - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.62. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $973.13 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. California Resources's revenue was up 194.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 earnings per share. Analysts forecast that California Resources Co. will post 3.42 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Monday, December 2nd. California Resources's dividend payout ratio is currently 24.41%.

Analyst Ratings Changes

CRC has been the topic of a number of research reports. Barclays raised their price target on California Resources from $55.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 3rd. UBS Group initiated coverage on California Resources in a research note on Wednesday, October 16th. They set a "buy" rating and a $68.00 price target on the stock. TD Cowen initiated coverage on California Resources in a research note on Friday, August 2nd. They set a "buy" rating and a $65.00 price target on the stock. Bank of America upgraded California Resources from a "neutral" rating to a "buy" rating and raised their price target for the stock from $57.00 to $65.00 in a research note on Wednesday, August 21st. Finally, Jefferies Financial Group began coverage on California Resources in a research report on Thursday, October 24th. They set a "buy" rating and a $64.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, California Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.50.

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.