Millennium Management LLC Has $9.88 Million Stake in California Resources Co. (NYSE:CRC)

Millennium Management LLC boosted its holdings in shares of California Resources Co. (NYSE:CRC - Free Report) by 1,679.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 190,443 shares of the oil and gas producer's stock after purchasing an additional 179,743 shares during the period. Millennium Management LLC owned about 0.21% of California Resources worth $9,882,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CRC. Nisa Investment Advisors LLC boosted its holdings in California Resources by 71.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer's stock valued at $56,000 after purchasing an additional 454 shares in the last quarter. CX Institutional boosted its holdings in California Resources by 5.6% during the fourth quarter. CX Institutional now owns 26,524 shares of the oil and gas producer's stock valued at $1,376,000 after purchasing an additional 1,411 shares in the last quarter. Blue Trust Inc. boosted its holdings 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 purchasing an additional 1,410 shares in the last quarter. KBC Group NV boosted its holdings in California Resources by 32.3% during the fourth quarter. KBC Group NV now owns 2,526 shares of the oil and gas producer's stock valued at $131,000 after purchasing an additional 616 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in California Resources during the fourth quarter valued at approximately $31,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at California Resources

In other California Resources news, Director James N. Chapman purchased 2,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 43,445 shares in the company, valued at $1,712,601.90. This represents a 4.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.63% of the company's stock.

California Resources Price Performance

CRC traded up $0.02 during midday trading on Thursday, hitting $42.53. The company had a trading volume of 74,256 shares, compared to its average volume of 942,580. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The company has a market capitalization of $3.79 billion, a PE ratio of 6.70, a P/E/G ratio of 1.02 and a beta of 1.06. California Resources Co. has a twelve month low of $30.97 and a twelve month high of $60.41. The firm's 50-day simple moving average is $38.87 and its 200-day simple moving average is $46.77.

California Resources (NYSE:CRC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.24. The firm 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 company's quarterly revenue was up 100.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 EPS. Equities research analysts predict that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Friday, May 30th. California Resources's payout ratio is presently 28.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CRC shares. Citigroup lifted their price objective on California Resources from $36.00 to $44.00 and gave the company a "neutral" rating in a report on Monday, May 19th. UBS Group lifted their price target on shares of California Resources from $49.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Barclays lifted their price target on shares of California Resources from $47.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Bank of America cut their price target on shares of California Resources from $64.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, Royal Bank of Canada cut their price target on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.