California Resources Co. (NYSE:CRC) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of California Resources Co. (NYSE:CRC) by 22.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,196 shares of the oil and gas producer’s stock after purchasing an additional 222 shares during the quarter. GAMMA Investing LLC’s holdings in California Resources were worth $62,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CRC. Point72 DIFC Ltd purchased a new position in shares of California Resources in the 3rd quarter valued at about $70,000. KBC Group NV raised its position in California Resources by 29.1% during the third quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock worth $100,000 after acquiring an additional 431 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of California Resources by 9.4% in the third quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock valued at $169,000 after purchasing an additional 276 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of California Resources in the third quarter valued at approximately $209,000. Finally, iA Global Asset Management Inc. increased its stake in shares of California Resources by 30.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 4,870 shares of the oil and gas producer’s stock worth $256,000 after purchasing an additional 1,140 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Insider Buying and Selling

In other news, VP Noelle M. Repetti sold 8,770 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total transaction of $488,927.50. Following the transaction, the vice president now directly owns 8,531 shares in the company, valued at $475,603.25. The trade was a 50.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Omar Hayat sold 16,016 shares of the firm’s 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 transaction, the executive vice president now owns 30,940 shares in the company, valued at approximately $1,707,269.20. This trade represents a 34.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.

California Resources Price Performance

Shares of NYSE CRC opened at $52.78 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $54.89 and a two-hundred day moving average price of $52.48. The firm has a market cap of $4.82 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 1.35 and a beta of 1.05. California Resources Co. has a fifty-two week low of $43.09 and a fifty-two week high of $60.41.

California Resources (NYSE:CRC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.62. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $973.13 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The business’s quarterly revenue was up 194.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 EPS. Sell-side analysts expect that California Resources Co. will post 3.58 earnings per share for the current fiscal year.

California Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Monday, December 2nd. California Resources’s dividend payout ratio (DPR) is presently 24.41%.

Wall Street Analysts Forecast Growth

CRC has been the topic of a number of recent research reports. Capital One Financial raised California Resources to a “strong-buy” rating in a research note on Monday, December 9th. Stephens began coverage on California Resources in a report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price objective for the company. TD Cowen lifted their target price on California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Jefferies Financial Group started coverage on California Resources in a research note on Thursday, October 24th. They set a “buy” rating and a $64.00 price target for the company. Finally, UBS Group assumed coverage on California Resources in a report on Wednesday, October 16th. They issued a “buy” rating and a $68.00 price target for the company. Three equities 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 stock. Based on data from MarketBeat, California Resources has a consensus rating of “Moderate Buy” and an average target price of $66.09.

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.