Loomis Sayles & Co. L P Acquires 6,464 Shares of California Resources Co. (NYSE:CRC)

Loomis Sayles & Co. L P lifted its holdings in shares of California Resources Co. (NYSE:CRC - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 254,680 shares of the oil and gas producer's stock after acquiring an additional 6,464 shares during the quarter. Loomis Sayles & Co. L P owned 0.28% of California Resources worth $13,215,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of California Resources by 158.7% in the 4th quarter. JPMorgan Chase & Co. now owns 374,793 shares of the oil and gas producer's stock valued at $19,448,000 after purchasing an additional 229,940 shares in the last quarter. Vanguard Group Inc. raised its holdings in California Resources by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 9,345,789 shares of the oil and gas producer's stock valued at $484,953,000 after acquiring an additional 225,620 shares in the last quarter. Fox Run Management L.L.C. bought a new position in California Resources during the 4th quarter valued at $696,000. KLP Kapitalforvaltning AS bought a new position in California Resources during the 4th quarter valued at $669,000. Finally, American Century Companies Inc. increased its position in shares of California Resources by 14.2% in the 4th quarter. American Century Companies Inc. now owns 2,327,712 shares of the oil and gas producer's stock worth $120,785,000 after purchasing an additional 290,263 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CRC shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $68.00 price target on shares of California Resources in a report on Thursday, March 27th. Truist Financial assumed coverage on shares of 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 California Resources from $57.00 to $55.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. Capital One Financial raised California Resources to a "strong-buy" rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. assumed coverage on shares of California Resources in a research report on Friday, December 20th. They set a "neutral" rating and a $63.00 price target for the company. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, California Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.92.

Insider Transactions at California Resources

In other California Resources news, Director James N. Chapman purchased 2,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $39.42 per share, with a total value of $78,840.00. Following the acquisition, the director now directly owns 43,445 shares of the company's stock, valued at approximately $1,712,601.90. This trade represents a 4.83 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.03% of the company's stock.

California Resources Stock Performance

California Resources stock traded down $0.31 during trading hours on Wednesday, reaching $45.00. 120,072 shares of the company were exchanged, compared to its average volume of 834,489. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 7.09, a PEG ratio of 1.02 and a beta of 1.06. California Resources Co. has a 12 month low of $38.02 and a 12 month high of $60.41. 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 stock has a 50-day moving average of $46.05 and a 200 day moving average of $51.11.

California Resources (NYSE:CRC - Get Free Report) last released its earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.96 by ($0.05). The firm had revenue of $877.00 million for the quarter, compared to analyst estimates of $901.36 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. As a group, research analysts anticipate that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $0.3875 per share. The ex-dividend date was Monday, March 10th. This represents a $1.55 annualized dividend and a yield of 3.44%. California Resources's dividend payout ratio is 37.71%.

About California Resources

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.