California Resources Co. (NYSE:CRC) Holdings Decreased by Barclays PLC

Barclays PLC lowered its holdings in California Resources Co. (NYSE:CRC - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 135,402 shares of the oil and gas producer's stock after selling 13,148 shares during the quarter. Barclays PLC owned about 0.15% of California Resources worth $7,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. R Squared Ltd purchased a new position in California Resources during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC grew its stake in California Resources by 331.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer's stock worth $53,000 after buying an additional 812 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of California Resources by 71.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer's stock valued at $56,000 after purchasing an additional 454 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 valued at $62,000 after purchasing an additional 222 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of 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 worth $88,000 after purchasing an additional 1,410 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Insider Activity at California Resources

In other 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 acquired at an average price of $39.42 per share, with a total value of $78,840.00. Following the completion of the purchase, the director now directly owns 43,445 shares of the company's stock, valued at $1,712,601.90. This represents a 4.83 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.03% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CRC. Citigroup cut shares of California Resources from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $62.00 to $36.00 in a research note on Monday, April 7th. Bank of America dropped their price objective on shares of California Resources from $64.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday. Royal Bank of Canada dropped their price objective on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Barclays lowered their price target on shares of California Resources from $55.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Truist Financial assumed coverage on shares of California Resources in a research note on Monday, January 13th. They set a "buy" rating and a $75.00 price target on the stock. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, California Resources currently has a consensus rating of "Moderate Buy" and an average price target of $61.27.

California Resources Stock Performance

Shares of NYSE:CRC traded down $0.71 on Wednesday, hitting $34.51. The company's stock had a trading volume of 852,755 shares, compared to its average volume of 862,105. California Resources Co. has a 12 month low of $30.97 and a 12 month high of $60.41. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 5.43, a price-to-earnings-growth ratio of 1.02 and a beta of 1.03. The stock's 50-day moving average is $39.72 and its two-hundred day moving average is $48.43. 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 - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.05). California Resources had a return on equity of 12.16% and a net margin of 17.43%. The business had revenue of $877.00 million during the quarter, compared to the consensus estimate of $901.36 million. On average, equities research analysts forecast that California Resources Co. will post 3.85 EPS for the current year.

California Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a dividend of $0.3875 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.55 annualized dividend and a yield of 4.49%. California Resources's dividend payout ratio is currently 37.71%.

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.