22,074 Shares in California Resources Co. (NYSE:CRC) Acquired by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. bought a new position in shares of California Resources Co. (NYSE:CRC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,074 shares of the oil and gas producer's stock, valued at approximately $1,145,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of California Resources by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 9,345,789 shares of the oil and gas producer's stock worth $484,953,000 after purchasing an additional 225,620 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of California Resources by 14.2% during the 4th quarter. First Trust Advisors LP now owns 6,818,266 shares of the oil and gas producer's stock worth $353,800,000 after buying an additional 845,694 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of California Resources by 14.2% during 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 purchasing an additional 290,263 shares during the period. Geode Capital Management LLC increased its position in shares of California Resources by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,605,779 shares of the oil and gas producer's stock worth $83,344,000 after acquiring an additional 13,116 shares in the last quarter. Finally, Sourcerock Group LLC boosted its position in shares of California Resources by 6.5% in the fourth quarter. Sourcerock Group LLC now owns 1,084,947 shares of the oil and gas producer's stock worth $56,298,000 after buying an additional 65,981 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at California Resources

In other California Resources news, Director James N. Chapman bought 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the completion of the purchase, the director now owns 43,445 shares in the company, valued at $1,712,601.90. This represents a 4.83% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.63% of the company's stock.

California Resources Price Performance

CRC traded up $1.63 during midday trading on Friday, reaching $43.93. 592,041 shares of the company's stock were exchanged, compared to its average volume of 867,554. California Resources Co. has a one year low of $30.97 and a one year high of $60.41. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 6.92, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The business has a 50-day simple moving average of $38.84 and a two-hundred day simple moving average of $46.65. 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 (NYSE:CRC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.24. The business had revenue of $912.00 million during the quarter, compared to analysts' expectations of $862.14 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm's revenue for the quarter was up 100.9% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. As a group, research analysts predict that California Resources Co. will post 3.85 EPS for the current 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 issued a dividend of $0.3875 per share. The ex-dividend date is Friday, May 30th. This represents a $1.55 dividend on an annualized basis and a yield of 3.53%. California Resources's dividend payout ratio is 28.13%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRC. Roth Capital restated a "buy" rating on shares of California Resources in a research note on Wednesday, May 7th. Citigroup raised their target price on California Resources from $36.00 to $44.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. Mizuho lowered their price objective on California Resources from $64.00 to $60.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen lowered California Resources from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Truist Financial raised shares of California Resources to a "strong-buy" rating in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $61.27.

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.