California Resources Co. (NYSE:CRC) Shares Purchased by Atria Investments Inc

Atria Investments Inc grew its stake in shares of California Resources Co. (NYSE:CRC) by 17.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,674 shares of the oil and gas producer’s stock after acquiring an additional 683 shares during the quarter. Atria Investments Inc’s holdings in California Resources were worth $243,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Weiss Asset Management LP acquired a new position in California Resources during the third quarter worth approximately $28,043,000. State Street Corp grew its stake in shares of 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 buying an additional 168,278 shares during the period. Vest Financial LLC grew its stake in shares of California Resources by 27.8% during the 4th quarter. Vest Financial LLC now owns 688,746 shares of the oil and gas producer’s stock valued at $35,739,000 after buying an additional 149,737 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of California Resources by 8.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,202 shares of the oil and gas producer’s stock worth $51,116,000 after buying an additional 75,606 shares during the period. Finally, Jennison Associates LLC boosted its holdings in California Resources by 41.9% in the fourth quarter. Jennison Associates LLC now owns 214,436 shares of the oil and gas producer’s stock valued at $11,127,000 after acquiring an additional 63,338 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRC. Capital One Financial upgraded California Resources to a “strong-buy” rating in a report on Monday, December 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of California Resources in a research report on Tuesday, January 14th. TD Cowen raised their target price on shares of California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. assumed coverage on shares of California Resources in a research report on Friday, December 20th. They set a “neutral” rating and a $63.00 price target for the company. Finally, Truist Financial assumed coverage on California Resources in a research report on Monday, January 13th. They issued a “buy” rating and a $75.00 price objective on the stock. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.08.

California Resources Stock Up 1.0 %

NYSE:CRC opened at $43.59 on Wednesday. The stock has a 50-day simple moving average of $47.90 and a 200 day simple moving average of $51.45. California Resources Co. has a one year low of $38.02 and a one year high of $60.41. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 6.87, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97.

California Resources (NYSE:CRC) last released its earnings results 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). 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 for the quarter, compared to the consensus estimate of $901.36 million. Sell-side analysts predict that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Monday, March 10th. California Resources’s payout ratio is 37.71%.

Insider Buying and Selling

In related news, Director James N. Chapman bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $39.42 per share, for a total transaction of $78,840.00. Following the transaction, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $1,712,601.90. This represents a 4.83 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.63% of the company’s stock.

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.