Sherbrooke Park Advisers LLC Invests $311,000 in California Resources Co. (NYSE:CRC)

Sherbrooke Park Advisers LLC purchased a new position in California Resources Co. (NYSE:CRC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,000 shares of the oil and gas producer's stock, valued at approximately $311,000.

Other large investors have also bought and sold shares of the company. Wedge Capital Management L L P NC grew its position in shares of California Resources by 14.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 19,288 shares of the oil and gas producer's stock worth $1,001,000 after buying an additional 2,437 shares during the last quarter. Clear Harbor Asset Management LLC grew its position in shares of California Resources by 6.0% in the 4th quarter. Clear Harbor Asset Management LLC now owns 7,475 shares of the oil and gas producer's stock worth $388,000 after buying an additional 425 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of 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 worth $56,000 after buying an additional 454 shares during the last quarter. CX Institutional grew its position in shares of California Resources by 5.6% in the 4th quarter. CX Institutional now owns 26,524 shares of the oil and gas producer's stock worth $1,376,000 after buying an additional 1,411 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of California Resources by 518.4% in the 4th 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 last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director James N. Chapman bought 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 owns 43,445 shares of the company's stock, valued at $1,712,601.90. The trade was a 4.83% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company's stock.

California Resources Stock Down 0.4%

California Resources stock traded down $0.18 during mid-day trading on Friday, hitting $42.07. The company had a trading volume of 441,794 shares, compared to its average volume of 870,611. 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 stock's 50 day moving average price is $38.98 and its two-hundred day moving average price is $47.00. California Resources Co. has a 12 month low of $30.97 and a 12 month high of $60.41. The company has a market capitalization of $3.75 billion, a PE ratio of 6.63, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06.

California Resources (NYSE:CRC - Get Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 EPS for the quarter, topping 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 business had revenue of $912.00 million for the quarter, compared to the consensus estimate of $862.14 million. During the same period in the previous year, the company posted $0.75 earnings per share. The company's revenue for the quarter was up 100.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

California Resources Announces Dividend

The business also recently announced 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. This represents a $1.55 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Friday, May 30th. California Resources's dividend payout ratio (DPR) is 28.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial upgraded California Resources to a "strong-buy" rating in a research report on Tuesday, May 6th. Wall Street Zen lowered California Resources from a "buy" rating to a "hold" rating in a research report on Tuesday. Royal Bank of Canada dropped their price target on California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Mizuho dropped their price target on California Resources from $64.00 to $60.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays lifted their price target 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. Four equities research 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's stock. Based on data from MarketBeat.com, California Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.36.

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.