GAMMA Investing LLC Grows Stock Holdings in California Resources Co. (NYSE:CRC)

GAMMA Investing LLC lifted its stake in California Resources Co. (NYSE:CRC) by 22.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Arizona State Retirement System raised its holdings in shares of California Resources by 8.9% in the second quarter. Arizona State Retirement System now owns 15,400 shares of the oil and gas producer’s stock worth $820,000 after buying an additional 1,256 shares during the period. American Century Companies Inc. grew its stake in California Resources by 18.1% in the 2nd quarter. American Century Companies Inc. now owns 1,631,432 shares of the oil and gas producer’s stock worth $86,825,000 after acquiring an additional 250,367 shares in the last quarter. WINTON GROUP Ltd grew its stake in California Resources by 9.4% in the 2nd quarter. WINTON GROUP Ltd now owns 20,109 shares of the oil and gas producer’s stock worth $1,070,000 after acquiring an additional 1,731 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of California Resources by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,576,306 shares of the oil and gas producer’s stock worth $190,328,000 after acquiring an additional 165,629 shares during the period. Finally, DRW Securities LLC raised its stake in shares of California Resources by 356.3% during the second quarter. DRW Securities LLC now owns 19,200 shares of the oil and gas producer’s stock valued at $1,022,000 after acquiring an additional 26,692 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at California Resources

In other news, EVP Omar Hayat sold 16,016 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total transaction of $883,762.88. Following the sale, the executive vice president now owns 30,940 shares of the company’s stock, valued at approximately $1,707,269.20. This represents a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Noelle M. Repetti sold 8,770 shares of California Resources stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total value of $488,927.50. Following the completion of the transaction, the vice president now owns 8,531 shares of the company’s stock, valued at $475,603.25. The trade was a 50.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.

California Resources Trading Up 0.3 %

Shares of CRC stock opened at $52.78 on Monday. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 1.35 and a beta of 1.05. The stock has a 50 day simple moving average of $54.89 and a 200-day simple moving average of $52.48. 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 1-year low of $43.09 and a 1-year 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 EPS for the quarter, topping the consensus estimate of $0.88 by $0.62. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $973.13 million. During the same period in the previous year, the business earned $1.02 earnings per share. The firm’s revenue for the quarter was up 194.1% on a year-over-year basis. On average, equities research analysts expect that California Resources Co. will post 3.58 EPS for the current fiscal year.

California Resources Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com raised shares of California Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. 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. UBS Group started coverage on shares of California Resources in a research note on Wednesday, October 16th. They set a “buy” rating and a $68.00 price objective for the company. Barclays raised their price target on California Resources from $55.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group initiated coverage on shares of California Resources in a research report on Thursday, October 24th. They set a “buy” rating and a $64.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.09.

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.