Blue Trust Inc. Acquires 1,410 Shares of California Resources Co. (NYSE:CRC)

Blue Trust Inc. grew its stake in shares of California Resources Co. (NYSE:CRC) by 518.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,682 shares of the oil and gas producer’s stock after acquiring an additional 1,410 shares during the period. Blue Trust Inc.’s holdings in California Resources were worth $88,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of California Resources by 61.5% during the 3rd quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 371 shares in the last quarter. Nisa Investment Advisors LLC grew its position in California Resources by 71.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer’s stock worth $56,000 after buying an additional 454 shares in the last quarter. Point72 DIFC Ltd bought a new position in California Resources in the 3rd quarter worth about $70,000. KBC Group NV raised its holdings in shares of California Resources by 29.1% in the 3rd quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock valued at $100,000 after acquiring an additional 431 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of California Resources by 9.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock valued at $169,000 after acquiring an additional 276 shares during the last quarter. 97.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of California Resources in a research note on Tuesday, January 14th. Stephens initiated coverage on California Resources in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price objective on the stock. Capital One Financial upgraded California Resources to a “strong-buy” rating in a research report on Monday, December 9th. UBS Group started coverage on shares of California Resources in a research report on Wednesday, October 16th. They set a “buy” rating and a $68.00 price target on the stock. Finally, Truist Financial started coverage on shares of California Resources in a report on Monday, January 13th. They issued a “buy” rating and a $75.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, California Resources currently has a consensus rating of “Moderate Buy” and an average price target of $67.25.

California Resources Stock Performance

Shares of California Resources stock opened at $46.97 on Friday. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 7.40, a PEG ratio of 1.01 and a beta of 1.04. 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. The firm’s 50-day moving average is $52.47 and its 200 day moving average is $52.39.

California Resources (NYSE:CRC) last posted its earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.62. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $973.13 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The company’s quarterly revenue was up 194.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.02 EPS. Sell-side analysts anticipate that California Resources Co. will post 3.85 EPS for the current fiscal year.

Insider Transactions at California Resources

In related news, EVP Omar Hayat sold 16,016 shares of California Resources 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 in the company, valued at approximately $1,707,269.20. The trade was a 34.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.63% 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.