California Resources Co. (NYSE:CRC) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC increased its stake in shares of California Resources Co. (NYSE:CRC - Free Report) by 44.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,840 shares of the oil and gas producer's stock after buying an additional 6,435 shares during the quarter. ProShare Advisors LLC's holdings in California Resources were worth $1,081,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in shares of California Resources by 71.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer's stock valued at $56,000 after acquiring an additional 454 shares during the last quarter. CX Institutional boosted its holdings in California Resources by 5.6% in the 4th 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 during the last quarter. Blue Trust Inc. grew its stake in shares of California Resources by 518.4% in the 4th quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer's stock valued at $88,000 after buying an additional 1,410 shares during the period. KBC Group NV increased its holdings in shares of California Resources by 32.3% during the 4th quarter. KBC Group NV now owns 2,526 shares of the oil and gas producer's stock worth $131,000 after buying an additional 616 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of California Resources during the 4th quarter valued at approximately $31,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on CRC. Royal Bank of Canada lowered their price objective on California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. UBS Group upped their price target on California Resources from $49.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Bank of America cut their price objective on California Resources from $64.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Mizuho decreased their target price on shares of California Resources from $64.00 to $60.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Roth Capital reaffirmed a "buy" rating on shares of California Resources in a research note on Wednesday, May 7th. Four investment 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 company. According to data from MarketBeat, California Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.36.

Insider Transactions at California Resources

In other California Resources news, Director James N. Chapman bought 2,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $39.42 per share, with a total value of $78,840.00. Following the transaction, the director now owns 43,445 shares of the company's stock, valued at approximately $1,712,601.90. The trade was a 4.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.63% of the company's stock.

California Resources Stock Up 0.4%

NYSE:CRC traded up $0.16 during midday trading on Wednesday, reaching $42.85. The company had a trading volume of 80,373 shares, compared to its average volume of 867,041. California Resources Co. has a 12-month low of $30.97 and a 12-month high of $60.41. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 6.75, a PEG ratio of 1.02 and a beta of 1.06. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The stock's fifty day simple moving average is $38.90 and its 200-day simple moving average is $46.80.

California Resources (NYSE:CRC - Get Free Report) last issued its quarterly 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. 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 during the quarter, compared to the consensus estimate of $862.14 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm's quarterly revenue was up 100.9% on a year-over-year basis. On average, sell-side analysts anticipate 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. Shareholders of record on Friday, May 30th will be issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Friday, May 30th. California Resources's dividend payout ratio (DPR) 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.