D. E. Shaw & Co. Inc. Buys 57,669 Shares of California Resources Co. (NYSE:CRC)

D. E. Shaw & Co. Inc. boosted its position in California Resources Co. (NYSE:CRC - Free Report) by 147.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,873 shares of the oil and gas producer's stock after buying an additional 57,669 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.11% of California Resources worth $5,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new position in shares of California Resources during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC grew its stake 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 valued at $53,000 after buying an additional 812 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of California Resources by 71.6% in the fourth 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. Blue Trust Inc. increased 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 worth $88,000 after buying an additional 1,410 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in shares of California Resources by 833.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,221 shares of the oil and gas producer's stock valued at $115,000 after acquiring an additional 1,983 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

California Resources Stock Down 1.8%

Shares of CRC traded down $0.77 during mid-day trading on Thursday, reaching $41.64. The company had a trading volume of 102,787 shares, compared to its average volume of 868,659. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The firm has a 50-day moving average price of $39.03 and a 200 day moving average price of $47.22. California Resources Co. has a 52 week low of $30.97 and a 52 week high of $60.41. 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 posted its earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.24. The business had revenue of $912.00 million during the quarter, compared to the consensus estimate of $862.14 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm's revenue was up 100.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. On average, sell-side analysts forecast that California Resources Co. will post 3.85 EPS for the current year.

California Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Friday, May 30th. California Resources's dividend payout ratio (DPR) is presently 28.13%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRC. Bank of America decreased their price target on California Resources from $64.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Roth Capital reaffirmed a "buy" rating on shares of California Resources in a research note on Wednesday, May 7th. Truist Financial upgraded shares of California Resources to a "strong-buy" rating in a report on Tuesday, May 6th. Citigroup upped their price objective on shares of California Resources from $36.00 to $44.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Mizuho dropped their target price on shares of California Resources from $64.00 to $60.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Four research 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. According to MarketBeat, California Resources currently has a consensus rating of "Moderate Buy" and an average target price of $60.36.

Insider Transactions at California Resources

In other California Resources news, Director James N. Chapman bought 2,000 shares of California Resources stock in a transaction on Wednesday, March 5th. The stock was 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 owns 43,445 shares in the company, valued at approximately $1,712,601.90. This represents a 4.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.03% of the company's stock.

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.