Vest Financial LLC Increases Position in California Resources Co. (NYSE:CRC)

Vest Financial LLC raised its holdings in shares of California Resources Co. (NYSE:CRC - Free Report) by 27.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 688,746 shares of the oil and gas producer's stock after acquiring an additional 149,737 shares during the quarter. Vest Financial LLC owned about 0.75% of California Resources worth $35,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. GSA Capital Partners LLP purchased a new position in shares of California Resources during the 3rd quarter valued at $682,000. Swiss National Bank grew its position in shares of California Resources by 12.7% during the 3rd quarter. Swiss National Bank now owns 121,900 shares of the oil and gas producer's stock valued at $6,396,000 after purchasing an additional 13,700 shares in the last quarter. Natixis Advisors LLC purchased a new position in shares of California Resources during the 3rd quarter valued at $579,000. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 55,815 shares in the last quarter. Finally, State Street Corp grew its position in shares of California Resources by 5.1% during the 3rd quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer's stock valued at $181,021,000 after purchasing an additional 168,278 shares in the last quarter. Institutional investors own 97.79% of the company's stock.

Insider Activity

In related news, EVP Omar Hayat sold 16,016 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $55.18, for a total value of $883,762.88. Following the completion of the transaction, the executive vice president now directly owns 30,940 shares of the company's stock, valued at $1,707,269.20. This represents a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.03% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CRC. Jefferies Financial Group began coverage on shares of California Resources in a research report on Thursday, October 24th. They set a "buy" rating and a $64.00 price target for the company. Truist Financial initiated coverage on shares of California Resources in a research report on Monday, January 13th. They issued a "buy" rating and a $75.00 target price for the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $70.00 target price on shares of California Resources in a research report on Tuesday, January 14th. UBS Group assumed coverage on shares of California Resources in a research report on Wednesday, October 16th. They issued a "buy" rating and a $68.00 target price for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of California Resources in a research note on Friday, December 20th. They issued a "neutral" rating and a $63.00 price target for the company. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, California Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.25.

California Resources Trading Down 4.9 %

Shares of NYSE:CRC traded down $2.38 during midday trading on Wednesday, hitting $45.83. 626,079 shares of the stock traded hands, compared to its average volume of 694,324. The stock has a market capitalization of $4.19 billion, a PE ratio of 7.22, a P/E/G ratio of 0.98 and a beta of 1.04. The business's 50 day moving average is $51.93 and its two-hundred day moving average is $52.34. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. California Resources Co. has a one year low of $43.09 and a one year high of $60.41.

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.