GTS Securities LLC Invests $669,000 in California Resources Co. (NYSE:CRC)

GTS Securities LLC purchased a new stake in shares of California Resources Co. (NYSE:CRC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,886 shares of the oil and gas producer's stock, valued at approximately $669,000.

A number of other large investors have also recently made changes to their positions in the stock. R Squared Ltd purchased a new stake in California Resources in the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC boosted its stake in shares of California Resources by 331.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer's stock worth $53,000 after buying an additional 812 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of 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 during the period. Lazard Asset Management LLC increased its position in California Resources by 52,366.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,574 shares of the oil and gas producer's stock valued at $81,000 after acquiring an additional 1,571 shares during the last quarter. Finally, Blue Trust Inc. increased its position in California Resources by 518.4% during 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 currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of California Resources from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Citigroup upped their price target on shares of California Resources from $36.00 to $44.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Mizuho lowered their price target on California Resources from $64.00 to $60.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Bank of America dropped their price target on California Resources from $64.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Finally, Barclays upgraded shares of California Resources from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $50.00 to $60.00 in a research report on Friday. Three research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.27.

Insider Activity

In other California Resources news, Director James N. Chapman acquired 2,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $39.42 per share, for a total transaction of $78,840.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.63% of the company's stock.

California Resources Trading Up 4.5%

Shares of NYSE:CRC traded up $1.90 during trading on Friday, reaching $44.20. The company's stock had a trading volume of 1,849,820 shares, compared to its average volume of 872,440. The stock has a market capitalization of $3.94 billion, a PE ratio of 6.96, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. California Resources Co. has a 12 month low of $30.97 and a 12 month high of $60.41. The firm's 50 day simple moving average is $38.84 and its two-hundred day simple moving average is $46.65. 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 (NYSE:CRC - Get Free Report) last released 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. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm had revenue of $912.00 million during the quarter, compared to analyst estimates of $862.14 million. During the same quarter last year, the business earned $0.75 EPS. The business's revenue was up 100.9% on a year-over-year basis. On average, research analysts predict that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.3875 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.55 annualized dividend and a dividend yield of 3.51%. California Resources's dividend payout ratio (DPR) is presently 28.13%.

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.