Deutsche Bank AG Purchases 16,551 Shares of California Resources Co. (NYSE:CRC)

Deutsche Bank AG lifted its holdings in California Resources Co. (NYSE:CRC - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 240,328 shares of the oil and gas producer's stock after purchasing an additional 16,551 shares during the quarter. Deutsche Bank AG owned 0.26% of California Resources worth $12,471,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRC. R Squared Ltd acquired a new stake in California Resources during the 4th quarter worth about $31,000. Smartleaf Asset Management LLC grew its position in 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 buying an additional 812 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in 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 acquiring an additional 454 shares in the last quarter. Blue Trust Inc. increased its position 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 valued at $88,000 after purchasing an additional 1,410 shares during the period. Finally, Sterling Capital Management LLC lifted its position in California Resources by 833.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,221 shares of the oil and gas producer's stock worth $115,000 after purchasing an additional 1,983 shares during the period. Institutional investors own 97.79% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on CRC. Truist Financial upgraded California Resources to a "strong-buy" rating in a research report on Tuesday, May 6th. Mizuho dropped their price target on California Resources from $64.00 to $60.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Barclays increased their price objective on California Resources from $47.00 to $50.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Royal Bank of Canada lowered their target price on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, StockNews.com cut California Resources from a "buy" rating to a "hold" rating in a report on Tuesday. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $60.36.

California Resources Stock Down 1.1%

CRC traded down $0.49 during trading on Wednesday, hitting $42.87. The company had a trading volume of 95,612 shares, compared to its average volume of 957,157. The firm's 50-day moving average price is $39.05 and its 200 day moving average price is $47.25. The company has a market capitalization of $3.82 billion, a PE ratio of 6.75, a PEG ratio of 1.02 and a beta of 1.06. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. California Resources Co. has a one year low of $30.97 and a one year high of $60.41.

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

California Resources Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 3.62%. California Resources's dividend payout ratio is currently 28.13%.

Insiders Place Their Bets

In other news, Director James N. Chapman acquired 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $39.42 per share, with a total value of $78,840.00. Following the acquisition, the director now directly owns 43,445 shares in the company, valued at $1,712,601.90. This represents a 4.83% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 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.