Nisa Investment Advisors LLC Acquires 454 Shares of California Resources Co. (NYSE:CRC)

Nisa Investment Advisors LLC boosted its holdings in California Resources Co. (NYSE:CRC) by 71.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,088 shares of the oil and gas producer’s stock after buying an additional 454 shares during the quarter. Nisa Investment Advisors LLC’s holdings in California Resources were worth $56,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CRC. State Street Corp increased 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 acquiring an additional 168,278 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of California Resources by 3.6% during the 3rd 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 purchasing an additional 55,815 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of California Resources by 8.4% during 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 purchasing an additional 75,606 shares during the period. Private Management Group Inc. increased its position in shares of California Resources by 0.3% during the 3rd quarter. Private Management Group Inc. now owns 796,610 shares of the oil and gas producer’s stock valued at $41,798,000 after purchasing an additional 2,651 shares during the last quarter. Finally, Vest Financial LLC lifted its stake in shares of California Resources by 14.5% in the 3rd quarter. Vest Financial LLC now owns 539,009 shares of the oil and gas producer’s stock worth $28,282,000 after purchasing an additional 68,315 shares during the period. Institutional investors own 97.79% of the company’s stock.

California Resources Stock Down 3.9 %

NYSE CRC opened at $49.05 on Friday. California Resources Co. has a 12 month low of $43.09 and a 12 month high of $60.41. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The stock has a market cap of $4.48 billion, a PE ratio of 7.72, a P/E/G ratio of 1.04 and a beta of 1.05. The stock’s 50 day moving average is $53.52 and its 200 day moving average is $52.53.

California Resources (NYSE:CRC) last released its 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. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $973.13 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The company’s quarterly revenue was up 194.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 earnings per share. Research analysts predict that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Monday, December 2nd. California Resources’s dividend payout ratio (DPR) is presently 24.41%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CRC. JPMorgan Chase & Co. started coverage on shares of California Resources in a report on Friday, December 20th. They set a “neutral” rating and a $63.00 target price for the company. Jefferies Financial Group started coverage on California Resources in a research note on Thursday, October 24th. They issued a “buy” rating and a $64.00 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 research report on Tuesday, November 26th. UBS Group started coverage on California Resources in a research report on Wednesday, October 16th. They issued a “buy” rating and a $68.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of California Resources in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.25.

Insider Activity

In related 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 value of $488,927.50. Following the sale, the vice president now owns 8,531 shares in the company, valued at approximately $475,603.25. The trade was a 50.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Omar Hayat sold 16,016 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $55.18, for a total transaction of $883,762.88. Following the transaction, the executive vice president now owns 30,940 shares of the company’s stock, valued at $1,707,269.20. This trade represents a 34.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.

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.