California Resources Co. (NYSE:CRC) Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in California Resources Co. (NYSE:CRC) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,271 shares of the oil and gas producer’s stock after acquiring an additional 399 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in California Resources were worth $792,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CRC. State Street Corp grew its holdings in 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. Geode Capital Management LLC grew its stake in shares of California Resources by 3.6% during the third 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. Charles Schwab Investment Management Inc. increased its position in shares of California Resources by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,031,816 shares of the oil and gas producer’s stock worth $53,541,000 after acquiring an additional 57,614 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of California Resources by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 739,057 shares of the oil and gas producer’s stock worth $38,350,000 after acquiring an additional 14,240 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in California Resources by 3.7% in the fourth quarter. DAVENPORT & Co LLC now owns 731,712 shares of the oil and gas producer’s stock valued at $37,969,000 after purchasing an additional 26,026 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Truist Financial assumed coverage on California Resources in a report on Monday, January 13th. They set a “buy” rating and a $75.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of California Resources in a report on Friday, December 20th. They issued a “neutral” rating and a $63.00 price target on the stock. Capital One Financial raised shares of California Resources to a “strong-buy” rating in a report on Monday, December 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price target on shares of California Resources in a research report on Tuesday, January 14th. Finally, Barclays lowered their price objective on California Resources from $57.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.08.

California Resources Price Performance

Shares of NYSE CRC opened at $44.55 on Thursday. 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 firm has a market capitalization of $4.04 billion, a PE ratio of 7.02, a P/E/G ratio of 1.02 and a beta of 1.06. California Resources Co. has a 1-year low of $38.02 and a 1-year high of $60.41. The business’s fifty day moving average price is $46.81 and its two-hundred day moving average price is $51.21.

California Resources (NYSE:CRC) last issued its quarterly earnings data 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). The firm had revenue of $877.00 million during the quarter, compared to the consensus estimate of $901.36 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. On average, research analysts expect that California Resources Co. will post 3.85 EPS for the current year.

California Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Monday, March 10th. California Resources’s dividend payout ratio (DPR) is 37.71%.

Insider Activity at California Resources

In other California Resources news, Director James N. Chapman purchased 2,000 shares of the firm’s stock in a transaction dated 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 completion of the purchase, the director now owns 43,445 shares in the company, valued at $1,712,601.90. This trade represents a 4.83 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.03% of the stock is owned by insiders.

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.