192,985 Shares in California Resources Co. (NYSE:CRC) Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP acquired a new position in California Resources Co. (NYSE:CRC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 192,985 shares of the oil and gas producer's stock, valued at approximately $10,014,000. ExodusPoint Capital Management LP owned approximately 0.21% of California Resources as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Weiss Asset Management LP purchased a new position in shares of California Resources in the 3rd quarter worth approximately $28,043,000. American Century Companies Inc. increased its holdings in California Resources by 14.2% in the 4th quarter. American Century Companies Inc. now owns 2,327,712 shares of the oil and gas producer's stock worth $120,785,000 after buying an additional 290,263 shares during the period. JPMorgan Chase & Co. raised its position in California Resources by 158.7% during the 4th quarter. JPMorgan Chase & Co. now owns 374,793 shares of the oil and gas producer's stock worth $19,448,000 after buying an additional 229,940 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of California Resources by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 9,345,789 shares of the oil and gas producer's stock valued at $484,953,000 after acquiring an additional 225,620 shares during the last quarter. Finally, State Street Corp increased its stake in shares of California Resources by 5.1% in the third quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer's stock worth $181,021,000 after acquiring an additional 168,278 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

Insider Buying and Selling at California Resources

In other California Resources news, Director James N. Chapman purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased 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 of the company's stock, valued at $1,712,601.90. This trade represents a 4.83 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

California Resources Trading Down 8.8 %

NYSE:CRC traded down $3.22 during trading hours on Thursday, hitting $33.25. The company had a trading volume of 266,321 shares, compared to its average volume of 845,528. California Resources Co. has a 1 year low of $30.97 and a 1 year high of $60.41. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $43.63 and a 200 day moving average of $50.25. The company has a market cap of $3.01 billion, a P/E ratio of 5.24, a P/E/G ratio of 1.02 and a beta of 1.03.

California Resources (NYSE:CRC - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates of $901.36 million. Sell-side analysts expect 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 was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $0.3875 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.55 annualized dividend and a dividend yield of 4.66%. California Resources's dividend payout ratio is presently 37.71%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of California Resources in a research report on Friday, December 20th. They set a "neutral" rating and a $63.00 target price for the company. Citigroup downgraded California Resources from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $62.00 to $36.00 in a research note on Monday. Truist Financial began coverage on California Resources in a research report on Monday, January 13th. They set a "buy" rating and a $75.00 price target for the company. Barclays lowered their price objective on California Resources from $57.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $68.00 target price on shares of California Resources in a report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, California Resources has a consensus rating of "Moderate Buy" and a consensus price target of $64.50.

California Resources Company 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.