Y Intercept Hong Kong Ltd Buys New Position in California Resources Co. (NYSE:CRC)

Y Intercept Hong Kong Ltd bought a new stake in California Resources Co. (NYSE:CRC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,919 shares of the oil and gas producer's stock, valued at approximately $515,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Weiss Asset Management LP acquired a new position in California Resources in the 3rd quarter valued at about $28,043,000. State Street Corp raised its stake in shares of California Resources by 5.1% during the third quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer's stock worth $181,021,000 after purchasing an additional 168,278 shares during the last quarter. Vest Financial LLC lifted its holdings in shares of California Resources by 27.8% during the fourth quarter. Vest Financial LLC now owns 688,746 shares of the oil and gas producer's stock worth $35,739,000 after purchasing an additional 149,737 shares during the period. Charles Schwab Investment Management Inc. grew its position in California Resources by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,202 shares of the oil and gas producer's stock valued at $51,116,000 after buying an additional 75,606 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of California Resources by 41.9% during the fourth quarter. Jennison Associates LLC now owns 214,436 shares of the oil and gas producer's stock worth $11,127,000 after acquiring an additional 63,338 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages recently commented on CRC. 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 for the company. StockNews.com raised California Resources from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. 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. Barclays reduced 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. Finally, TD Cowen boosted their target price on shares of California Resources from $65.00 to $74.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $67.08.

Insiders Place Their Bets

In other California Resources news, EVP Omar Hayat sold 16,016 shares of the company's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $55.18, for a total transaction of $883,762.88. Following the completion of the sale, the executive vice president now directly owns 30,940 shares in the company, valued at $1,707,269.20. This represents a 34.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.03% of the stock is currently owned by insiders.

California Resources Trading Up 3.1 %

CRC traded up $1.20 during trading on Wednesday, hitting $40.37. The company's stock had a trading volume of 1,316,357 shares, compared to its average volume of 808,150. California Resources Co. has a twelve month low of $38.02 and a twelve month high of $60.41. The firm's 50 day moving average price is $49.55 and its 200-day moving average price is $52.04. 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 stock has a market cap of $3.69 billion, a PE ratio of 6.36, a PEG ratio of 1.02 and a beta of 1.06.

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 the consensus estimate of $0.96 by ($0.05). California Resources had a return on equity of 12.16% and a net margin of 17.43%. The business had revenue of $877.00 million for the quarter, compared to analysts' expectations of $901.36 million. On average, analysts expect that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 3.84%. The ex-dividend date is Monday, March 10th. California Resources's dividend payout ratio (DPR) is 24.41%.

California Resources Company 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.