Cubist Systematic Strategies LLC Invests $5.31 Million in California Resources Co. (NYSE:CRC)

Cubist Systematic Strategies LLC acquired a new position in shares of California Resources Co. (NYSE:CRC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 102,386 shares of the oil and gas producer's stock, valued at approximately $5,313,000. Cubist Systematic Strategies LLC owned about 0.11% of California Resources at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd acquired a new position in shares of California Resources in the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its position in shares of California Resources by 331.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer's stock worth $53,000 after acquiring an additional 812 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of 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 acquiring an additional 454 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of California Resources by 22.8% during the fourth quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer's stock worth $62,000 after acquiring an additional 222 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of California Resources by 518.4% in 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 in the last quarter. Institutional investors own 97.79% of the company's stock.

California Resources Stock Up 3.8%

Shares of NYSE:CRC traded up $1.55 during trading on Monday, reaching $42.13. 1,110,562 shares of the stock were exchanged, compared to its average volume of 870,449. California Resources Co. has a 1-year low of $30.97 and a 1-year high of $60.41. The stock has a fifty day moving average of $38.86 and a two-hundred day moving average of $47.66. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06.

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

California Resources Announces Dividend

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

Insiders Place Their Bets

In other California Resources news, Director James N. Chapman acquired 2,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were acquired at an average cost of $39.42 per share, with a total value of $78,840.00. Following the completion of the acquisition, the director now directly owns 43,445 shares in the company, valued at $1,712,601.90. This trade represents a 4.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRC. Roth Capital reaffirmed a "buy" rating on shares of California Resources in a research report on Wednesday, May 7th. UBS Group increased their price target on California Resources from $49.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday. Barclays boosted their price objective on California Resources from $47.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday. Royal Bank of Canada dropped their price objective on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Finally, Bank of America lowered their target price on shares of California Resources from $64.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, California Resources has an average rating of "Moderate Buy" and a consensus target price 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.