Teza Capital Management LLC Takes $935,000 Position in California Resources Co. (NYSE:CRC)

Teza Capital Management LLC bought a new position in shares of California Resources Co. (NYSE:CRC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 18,027 shares of the oil and gas producer's stock, valued at approximately $935,000.

A number of other institutional investors have also modified their holdings of CRC. R Squared Ltd purchased a new position in California Resources in the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC boosted its holdings in 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 acquiring an additional 812 shares during the period. Nisa Investment Advisors LLC boosted its holdings in California Resources by 71.6% in the 4th 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 boosted its holdings in California Resources by 52,366.7% in the 4th quarter. Lazard Asset Management LLC now owns 1,574 shares of the oil and gas producer's stock worth $81,000 after acquiring an additional 1,571 shares during the period. Finally, Blue Trust Inc. boosted its holdings in 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 worth $88,000 after acquiring an additional 1,410 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

Insider Activity at California Resources

In other news, Director James N. Chapman purchased 2,000 shares of the company's stock in a transaction that occurred on 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 transaction, the director now owns 43,445 shares in the company, valued at approximately $1,712,601.90. The trade was a 4.83% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.03% of the company's stock.

California Resources Stock Performance

Shares of CRC stock traded down $0.18 on Friday, hitting $42.07. 441,794 shares of the stock traded hands, compared to its average volume of 870,611. 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 company has a market capitalization of $3.75 billion, a PE ratio of 6.63, a PEG ratio of 1.02 and a beta of 1.06. California Resources Co. has a 1-year low of $30.97 and a 1-year high of $60.41. The company's fifty day moving average is $38.98 and its 200 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.24. The business had revenue of $912.00 million for the quarter, compared to analyst estimates of $862.14 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The business's revenue was up 100.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. On average, equities research analysts predict that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given 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 dividend payout ratio is currently 28.13%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRC. Royal Bank of Canada decreased their price target on California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Barclays upped their price target on California Resources from $47.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Roth Capital restated a "buy" rating on shares of California Resources in a report on Wednesday, May 7th. UBS Group increased their target price on California Resources from $49.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen cut California Resources from a "buy" rating to a "hold" rating in a research note on Tuesday. 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. 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.