Teza Capital Management LLC Makes New $935,000 Investment in California Resources Co. (NYSE:CRC)

Teza Capital Management LLC acquired a new stake in California Resources Co. (NYSE:CRC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,027 shares of the oil and gas producer's stock, valued at approximately $935,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRC. State of Wyoming acquired a new stake in shares of California Resources during the 4th quarter worth approximately $131,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of California Resources during the 4th quarter worth about $311,000. ProShare Advisors LLC raised its holdings in California Resources by 44.7% in the 4th quarter. ProShare Advisors LLC now owns 20,840 shares of the oil and gas producer's stock valued at $1,081,000 after buying an additional 6,435 shares during the period. Palo Duro Investment Partners LP acquired a new position in California Resources in the fourth quarter valued at about $20,752,000. Finally, Man Group plc purchased a new position in California Resources during the fourth quarter worth about $613,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director James N. Chapman purchased 2,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $39.42 per share, for a total transaction of $78,840.00. Following the completion of the purchase, the director now directly owns 43,445 shares of the company's stock, valued at $1,712,601.90. This trade represents a 4.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CRC has been the topic of a number of research analyst reports. Truist Financial raised shares of California Resources to a "strong-buy" rating in a research note on Tuesday, May 6th. Barclays boosted their target price on California Resources from $47.00 to $50.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Wall Street Zen lowered California Resources from a "buy" rating to a "hold" rating in a research report on Tuesday. UBS Group boosted their price target on shares of California Resources from $49.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Mizuho reduced their price target 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. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.36.

California Resources Stock Down 0.4%

Shares of CRC stock traded down $0.16 during trading hours on Thursday, reaching $42.25. 628,305 shares of the stock were exchanged, compared to its average volume of 870,621. California Resources Co. has a 12-month low of $30.97 and a 12-month high of $60.41. The business's fifty day moving average is $39.03 and its two-hundred day moving average is $47.22. 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 firm has a market capitalization of $3.77 billion, a P/E ratio of 6.65, a P/E/G ratio of 1.02 and a beta of 1.06.

California Resources (NYSE:CRC - Get Free Report) last released its quarterly earnings data 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 return on equity of 12.16% and a net margin of 17.43%. The business had revenue of $912.00 million during the quarter, compared to analysts' expectations of $862.14 million. During the same period in the prior year, the firm posted $0.75 EPS. The business's quarterly revenue was up 100.9% compared to the same quarter last year. As a group, research analysts expect that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Friday, May 30th. California Resources's dividend payout ratio (DPR) is currently 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.