California Resources Co. (NYSE:CRC) Stake Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in California Resources Co. (NYSE:CRC) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,031,816 shares of the oil and gas producer’s stock after purchasing an additional 57,614 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.13% of California Resources worth $53,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Yousif Capital Management LLC boosted its holdings in shares of California Resources by 0.7% in the 4th quarter. Yousif Capital Management LLC now owns 26,924 shares of the oil and gas producer’s stock worth $1,397,000 after acquiring an additional 196 shares in the last quarter. GAMMA Investing LLC lifted its stake in California Resources by 22.8% in the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer’s stock valued at $62,000 after purchasing an additional 222 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of California Resources by 3.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 10,835 shares of the oil and gas producer’s stock worth $562,000 after acquiring an additional 371 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of California Resources by 2.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,833 shares of the oil and gas producer’s stock worth $873,000 after purchasing an additional 416 shares during the period. Finally, Clear Harbor Asset Management LLC grew its position in California Resources by 6.0% during the fourth quarter. Clear Harbor Asset Management LLC now owns 7,475 shares of the oil and gas producer’s stock worth $388,000 after buying an additional 425 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

California Resources Stock Down 1.6 %

Shares of NYSE:CRC opened at $41.98 on Friday. California Resources Co. has a 52-week low of $38.02 and a 52-week high of $60.41. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 6.61, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The company has a 50 day moving average of $48.43 and a two-hundred day moving average of $51.66.

California Resources (NYSE:CRC) last issued its quarterly earnings data on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.05). California Resources had a net margin of 17.43% and a return on equity of 12.16%. The company had revenue of $877.00 million for the quarter, compared to the consensus estimate of $901.36 million. As a group, analysts forecast that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.3875 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.55 annualized dividend and a dividend yield of 3.69%. California Resources’s dividend payout ratio is 37.71%.

Insider Buying and Selling

In other California Resources news, Director James N. Chapman acquired 2,000 shares of California Resources stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $39.42 per share, with a total value of $78,840.00. Following the acquisition, the director now owns 43,445 shares of the company’s stock, valued at approximately $1,712,601.90. The trade was a 4.83 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Capital One Financial raised California Resources to a “strong-buy” rating in a research report on Monday, December 9th. Barclays decreased their price target on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. StockNews.com upgraded shares of California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. TD Cowen upped their price target on shares of California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, 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. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.08.

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.