BNP Paribas Financial Markets Takes $1.45 Million Position in California Resources Co. (NYSE:CRC)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Entropy Technologies LP purchased a new position in shares of California Resources during the fourth quarter valued at approximately $841,000. Bank of New York Mellon Corp boosted its holdings in shares of California Resources by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 739,057 shares of the oil and gas producer's stock valued at $38,350,000 after purchasing an additional 14,240 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of California Resources by 1.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 55,289 shares of the oil and gas producer's stock valued at $2,869,000 after purchasing an additional 649 shares during the period. Empowered Funds LLC boosted its holdings in shares of California Resources by 84.3% in the fourth quarter. Empowered Funds LLC now owns 48,929 shares of the oil and gas producer's stock valued at $2,539,000 after purchasing an additional 22,383 shares during the period. Finally, Blue Trust Inc. boosted 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 valued at $88,000 after purchasing an additional 1,410 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

California Resources Stock Performance

NYSE:CRC traded down $0.18 during mid-day trading on Friday, hitting $42.07. The company's stock had a trading volume of 441,794 shares, compared to its average volume of 870,611. California Resources Co. has a 1 year low of $30.97 and a 1 year high of $60.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 6.63, a PEG ratio of 1.02 and a beta of 1.06. The business's fifty day moving average is $38.98 and its two-hundred day moving average is $47.00.

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

California Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Friday, May 30th. California Resources's payout ratio is currently 28.13%.

Insider Transactions at California Resources

In other news, Director James N. Chapman bought 2,000 shares of the stock in a transaction dated 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 purchase, the director now directly owns 43,445 shares in the company, valued at $1,712,601.90. The trade was a 4.83% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CRC shares. Truist Financial upgraded California Resources to a "strong-buy" rating in a report on Tuesday, May 6th. Mizuho lowered 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. UBS Group boosted their price objective on shares of California Resources from $49.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Wall Street Zen downgraded shares of California Resources from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, Citigroup boosted their price objective on shares of California Resources from $36.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $60.36.

California Resources 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.