Trexquant Investment LP Acquires Shares of 8,811 California Resources Co. (NYSE:CRC)

Trexquant Investment LP purchased a new position in shares of California Resources Co. (NYSE:CRC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,811 shares of the oil and gas producer's stock, valued at approximately $457,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted its stake in California Resources by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer's stock valued at $83,583,000 after acquiring an additional 55,815 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of California Resources during the fourth quarter valued at approximately $841,000. Bank of New York Mellon Corp raised its holdings in California Resources by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 739,057 shares of the oil and gas producer's stock valued at $38,350,000 after acquiring an additional 14,240 shares during the period. Thrivent Financial for Lutherans grew its position in shares of California Resources by 1.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 55,289 shares of the oil and gas producer's stock valued at $2,869,000 after purchasing an additional 649 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in California Resources by 84.3% during the 4th quarter. Empowered Funds LLC now owns 48,929 shares of the oil and gas producer's stock worth $2,539,000 after purchasing an additional 22,383 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CRC shares. Barclays lowered their price target on shares of California Resources from $57.00 to $55.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Truist Financial started coverage on California Resources in a research note on Monday, January 13th. They set a "buy" rating and a $75.00 price target for the company. Royal Bank of Canada dropped their price target on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Citigroup downgraded California Resources from a "buy" rating to a "neutral" rating and reduced their price target for the company from $62.00 to $36.00 in a report on Monday, April 7th. Finally, 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 price objective on the stock. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $63.83.

Insider Activity

In other news, Director James N. Chapman purchased 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $39.42 per share, with a total value of $78,840.00. Following the transaction, the director now owns 43,445 shares in the company, valued at $1,712,601.90. The trade was a 4.83 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.03% of the company's stock.

California Resources Trading Up 3.0 %

Shares of California Resources stock traded up $1.02 on Friday, reaching $35.65. The company had a trading volume of 528,667 shares, compared to its average volume of 850,547. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 5.61, a P/E/G ratio of 1.02 and a beta of 1.03. The firm's 50-day moving average price is $42.00 and its two-hundred day moving average price is $49.54. California Resources Co. has a 1 year low of $30.97 and a 1 year high of $60.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89.

California Resources (NYSE:CRC - Get Free Report) last posted its quarterly earnings data 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). California Resources had a return on equity of 12.16% and a net margin of 17.43%. The firm had revenue of $877.00 million during the quarter, compared to analysts' expectations of $901.36 million. As a group, research analysts predict that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

California Resources Announces Dividend

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

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.