LSV Asset Management Reduces Position in California Resources Co. (NYSE:CRC)

LSV Asset Management lowered its position in shares of California Resources Co. (NYSE:CRC - Free Report) by 28.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,935,315 shares of the oil and gas producer's stock after selling 758,780 shares during the quarter. LSV Asset Management owned approximately 2.12% of California Resources worth $100,423,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in California Resources during the 4th quarter worth $31,000. Smartleaf Asset Management LLC boosted its holdings in shares of California Resources by 331.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer's stock worth $53,000 after buying an additional 812 shares during the period. Nisa Investment Advisors LLC grew its holdings in 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 valued at $56,000 after buying an additional 454 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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 buying an additional 222 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in California Resources by 518.4% during the fourth quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer's stock worth $88,000 after buying an additional 1,410 shares in the last quarter. Institutional investors own 97.79% of the company's stock.

California Resources Stock Up 2.4 %

California Resources stock traded up $0.84 during trading hours on Wednesday, reaching $35.26. The stock had a trading volume of 103,538 shares, compared to its average volume of 847,498. 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 company has a market cap of $3.20 billion, a price-to-earnings ratio of 5.55, a PEG ratio of 1.02 and a beta of 1.03. The business's 50 day moving average price is $42.50 and its 200-day moving average price is $49.76. California Resources Co. has a 52 week low of $30.97 and a 52 week high of $60.41.

California Resources (NYSE:CRC - Get Free Report) last posted its earnings results 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 company 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%. Sell-side analysts anticipate that California Resources Co. will post 3.85 EPS for the current year.

California Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $0.3875 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.55 annualized dividend and a dividend yield of 4.40%. California Resources's dividend payout ratio (DPR) is 37.71%.

Insiders Place Their Bets

In other California Resources news, Director James N. Chapman bought 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $39.42 per share, for a total transaction of $78,840.00. Following the completion of the purchase, the director now directly owns 43,445 shares in the company, valued at $1,712,601.90. This trade represents a 4.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CRC. JPMorgan Chase & Co. initiated coverage on California Resources in a report on Friday, December 20th. They set a "neutral" rating and a $63.00 price objective on the stock. Royal Bank of Canada decreased their price objective on California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Barclays reduced their price objective on shares of California Resources from $57.00 to $55.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. 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 objective on the stock. Finally, Citigroup downgraded shares of California Resources from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $62.00 to $36.00 in a report on Monday, April 7th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.83.

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.