27,872 Shares in California Resources Co. (NYSE:CRC) Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets acquired a new position in California Resources Co. (NYSE:CRC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 27,872 shares of the oil and gas producer's stock, valued at approximately $1,446,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wedge Capital Management L L P NC grew its stake in 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 in the last quarter. Clear Harbor Asset Management LLC lifted its holdings in shares of California Resources by 6.0% during 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 acquiring an additional 425 shares during the last quarter. Nisa Investment Advisors LLC grew its position in 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 acquiring an additional 454 shares in the last quarter. CX Institutional increased its stake in California Resources by 5.6% in the fourth quarter. CX Institutional now owns 26,524 shares of the oil and gas producer's stock valued at $1,376,000 after acquiring an additional 1,411 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in 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 acquiring an additional 1,410 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at California Resources

In related news, Director James N. Chapman acquired 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $39.42 per share, for a total transaction 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 approximately $1,712,601.90. This represents a 4.83% increase in their position. The purchase 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 company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CRC shares. Mizuho cut their price objective on California Resources from $64.00 to $60.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. UBS Group boosted their target price on California Resources from $49.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Citigroup increased their price target on shares of California Resources from $36.00 to $44.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Barclays lifted their price target on shares of California Resources from $47.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, Wall Street Zen cut shares of California Resources from a "buy" rating to a "hold" rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, California Resources has a consensus rating of "Moderate Buy" and an average price target of $60.36.

California Resources Trading Down 0.4%

Shares of CRC stock traded down $0.18 during mid-day trading on Friday, reaching $42.07. The stock had a trading volume of 441,794 shares, compared to its average volume of 869,598. The firm 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. The stock's 50-day moving average price is $38.98 and its two-hundred day moving average price is $47.06. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. California Resources Co. has a 52-week low of $30.97 and a 52-week high of $60.41.

California Resources (NYSE:CRC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.24. The company had revenue of $912.00 million for the quarter, compared to analysts' expectations 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 period last year, the firm earned $0.75 earnings per share. Equities analysts expect that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

California Resources Dividend Announcement

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

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.