192,985 Shares in California Resources Co. (NYSE:CRC) Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP bought a new stake in shares of California Resources Co. (NYSE:CRC) during the 4th quarter, HoldingsChannel reports. The firm bought 192,985 shares of the oil and gas producer’s stock, valued at approximately $10,014,000.

A number of other institutional investors and hedge funds have also modified their holdings of CRC. Weiss Asset Management LP purchased a new stake in shares of California Resources during the third quarter valued at $28,043,000. American Century Companies Inc. boosted its holdings in shares of California Resources by 14.2% during the 4th quarter. American Century Companies Inc. now owns 2,327,712 shares of the oil and gas producer’s stock valued at $120,785,000 after acquiring an additional 290,263 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of California Resources by 158.7% in the fourth quarter. JPMorgan Chase & Co. now owns 374,793 shares of the oil and gas producer’s stock worth $19,448,000 after acquiring an additional 229,940 shares during the period. Vanguard Group Inc. raised its holdings in shares of California Resources by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 9,345,789 shares of the oil and gas producer’s stock valued at $484,953,000 after purchasing an additional 225,620 shares during the last quarter. Finally, State Street Corp lifted its position in 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 valued at $181,021,000 after purchasing an additional 168,278 shares during the period. Institutional investors own 97.79% of the company’s stock.

Insider Activity

In related news, Director James N. Chapman bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $39.42 per share, with a total value of $78,840.00. Following the completion of the purchase, the director now owns 43,445 shares of the company’s stock, valued at approximately $1,712,601.90. The trade was a 4.83 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CRC. JPMorgan Chase & Co. began coverage on shares of California Resources in a research report on Friday, December 20th. They issued a “neutral” rating and a $63.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price objective on shares of California Resources in a research report on Thursday, March 27th. Capital One Financial raised California Resources to a “strong-buy” rating in a research report on Monday, December 9th. Barclays reduced their price target 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. Finally, Truist Financial initiated coverage on shares of California Resources in a report on Monday, January 13th. They issued a “buy” rating and a $75.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.92.

California Resources Stock Down 14.3 %

Shares of CRC stock opened at $34.80 on Friday. 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 Co. has a one year low of $34.43 and a one year high of $60.41. The company’s fifty day moving average price is $45.26 and its 200-day moving average price is $50.89. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 5.48, a PEG ratio of 1.02 and a beta of 1.03.

California Resources (NYSE:CRC) last announced its quarterly earnings data 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). California Resources had a net margin of 17.43% and a return on equity of 12.16%. The business had revenue of $877.00 million during the quarter, compared to analysts’ expectations of $901.36 million. Sell-side analysts expect that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Monday, March 10th. California Resources’s dividend payout ratio (DPR) is currently 37.71%.

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.