California Resources Co. (NYSE:CRC) Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its holdings in shares of California Resources Co. (NYSE:CRC - Free Report) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 854,661 shares of the oil and gas producer's stock after buying an additional 48,858 shares during the period. Northern Trust Corp owned approximately 0.94% of California Resources worth $44,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. R Squared Ltd acquired a new position in shares of California Resources during the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC lifted its position in shares of 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 period. Nisa Investment Advisors LLC lifted its position in shares of California Resources by 71.6% during the 4th 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 during the period. GAMMA Investing LLC increased its holdings in California Resources by 22.8% during 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 in the last quarter. Finally, Blue Trust Inc. increased its holdings in California Resources by 518.4% during the 4th 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 in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at California Resources

In other news, Director James N. Chapman bought 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the acquisition, the director now directly owns 43,445 shares of the company's stock, valued at $1,712,601.90. This trade represents a 4.83% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.03% of the stock is owned by corporate insiders.

California Resources Trading Up 3.8%

California Resources stock traded up $1.55 during trading hours on Monday, hitting $42.13. The company had a trading volume of 1,110,562 shares, compared to its average volume of 870,449. The firm has a market cap of $3.82 billion, a P/E ratio of 6.64, a P/E/G 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 Co. has a 1 year low of $30.97 and a 1 year high of $60.41. The company has a 50-day moving average price of $38.86 and a two-hundred day moving average price of $47.66.

California Resources (NYSE:CRC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.24. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The company had revenue of $912.00 million during the quarter, compared to analysts' expectations of $862.14 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. California Resources's revenue for the quarter was up 100.9% compared to the same quarter last year. On average, sell-side analysts anticipate that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.3875 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.55 dividend on an annualized basis and a yield of 3.68%. California Resources's payout ratio is 28.13%.

Analysts Set New Price Targets

A number of brokerages recently commented on CRC. Citigroup cut California Resources from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $62.00 to $36.00 in a research note on Monday, April 7th. Bank of America dropped their target price on California Resources from $64.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Barclays upped their price objective on California Resources from $47.00 to $50.00 and gave the company an "equal weight" rating in a research note on Friday. Roth Capital reiterated a "buy" rating on shares of California Resources in a research note on Wednesday. Finally, Truist Financial raised California Resources to a "strong-buy" rating in a research report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, California Resources has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

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.