California Resources Co. (NYSE:CRC) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC lifted its position in shares of California Resources Co. (NYSE:CRC - Free Report) by 41.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,436 shares of the oil and gas producer's stock after buying an additional 63,338 shares during the period. Jennison Associates LLC owned approximately 0.23% of California Resources worth $11,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CRC. GAMMA Investing LLC raised its position in California Resources by 22.8% in 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 during the period. Farther Finance Advisors LLC lifted its position in California Resources by 9.4% in the third quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer's stock valued at $169,000 after buying an additional 276 shares during the last quarter. Clear Harbor Asset Management LLC boosted its stake in California Resources by 6.0% during the fourth quarter. Clear Harbor Asset Management LLC now owns 7,475 shares of the oil and gas producer's stock worth $388,000 after buying an additional 425 shares during the period. KBC Group NV raised its stake in shares of California Resources by 29.1% in the 3rd quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer's stock valued at $100,000 after acquiring an additional 431 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of California Resources by 71.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer's stock worth $56,000 after acquiring an additional 454 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

California Resources Stock Performance

NYSE CRC traded down $0.98 during trading on Friday, reaching $46.97. The company's stock had a trading volume of 560,033 shares, compared to its average volume of 623,661. The business's fifty day moving average price is $52.47 and its 200-day moving average price is $52.40. California Resources Co. has a twelve month low of $43.09 and a twelve month high of $60.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 7.40, a P/E/G ratio of 0.98 and a beta of 1.04.

Analysts Set New Price Targets

Several research firms recently weighed in on CRC. Truist Financial started coverage on shares of California Resources in a report on Monday, January 13th. They issued a "buy" rating and a $75.00 target price for the company. Stephens began coverage on California Resources in a research note on Tuesday, October 22nd. They set an "overweight" rating and a $73.00 target price on the stock. JPMorgan Chase & Co. began coverage on California Resources in a research report on Friday, December 20th. They issued a "neutral" rating and a $63.00 target price for the company. UBS Group began coverage on shares of California Resources in a research note on Wednesday, October 16th. They issued a "buy" rating and a $68.00 price objective for the company. Finally, Capital One Financial raised shares of California Resources to a "strong-buy" rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $67.25.

Insider Buying and Selling at California Resources

In other California Resources news, EVP Omar Hayat sold 16,016 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total transaction of $883,762.88. Following the transaction, the executive vice president now owns 30,940 shares in the company, valued at approximately $1,707,269.20. The trade was a 34.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.03% of the stock is owned by company insiders.

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.