State of New Jersey Common Pension Fund D Sells 1,382 Shares of California Resources Co. (NYSE:CRC)

State of New Jersey Common Pension Fund D lowered its stake in shares of California Resources Co. (NYSE:CRC) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,400 shares of the oil and gas producer’s stock after selling 1,382 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in California Resources were worth $1,889,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CRC. R Squared Ltd purchased a new position in California Resources in the 4th quarter worth approximately $31,000. Nisa Investment Advisors LLC raised its stake 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 valued at $56,000 after buying an additional 454 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of California Resources by 22.8% in the fourth quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer’s stock worth $62,000 after buying an additional 222 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of California Resources during the third quarter valued at $70,000. Finally, Blue Trust Inc. lifted its position in California Resources by 518.4% during the fourth quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer’s stock valued at $88,000 after purchasing an additional 1,410 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on CRC shares. Truist Financial started coverage on shares of California Resources in a report on Monday, January 13th. They set a “buy” rating and a $75.00 target price for the company. 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 target price on the stock. StockNews.com raised shares of California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Capital One Financial raised California Resources to a “strong-buy” rating in a research note on Monday, December 9th. Finally, Royal Bank of Canada reissued 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.25.

Insider Activity at California Resources

In related news, EVP Omar Hayat sold 16,016 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $55.18, for a total value 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. This represents a 34.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.03% of the stock is owned by insiders.

California Resources Stock Down 1.7 %

NYSE:CRC opened at $46.54 on Tuesday. The company’s 50 day moving average is $50.76 and its two-hundred day moving average is $52.37. The company has a market cap of $4.25 billion, a PE ratio of 7.33, a P/E/G ratio of 1.02 and a beta of 1.04. California Resources Co. has a twelve month low of $43.09 and a twelve 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.

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.