California Resources Co. (NYSE:CRC) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP lifted its holdings in shares of California Resources Co. (NYSE:CRC - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,818,266 shares of the oil and gas producer's stock after purchasing an additional 845,694 shares during the period. First Trust Advisors LP owned about 7.46% of California Resources worth $353,800,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. R Squared Ltd purchased a new position in California Resources during the fourth quarter worth $31,000. Smartleaf Asset Management LLC boosted its stake in shares of California Resources by 331.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer's stock valued at $53,000 after acquiring an additional 812 shares during the last quarter. Nisa Investment Advisors LLC increased its position in 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 worth $56,000 after purchasing an additional 454 shares in the last quarter. GAMMA Investing LLC raised its stake in California Resources by 22.8% in the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer's stock valued at $62,000 after purchasing an additional 222 shares during the last quarter. Finally, Blue Trust Inc. lifted 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 valued at $88,000 after purchasing an additional 1,410 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

California Resources Trading Up 2.0 %

Shares of NYSE CRC traded up $0.69 during midday trading on Thursday, hitting $35.56. The stock had a trading volume of 163,972 shares, compared to its average volume of 980,354. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. California Resources Co. has a 1-year low of $30.97 and a 1-year high of $60.41. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 1.02 and a beta of 1.03. The company has a fifty day moving average price of $41.02 and a 200 day moving average price of $49.04.

California Resources (NYSE:CRC - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.05). California Resources had a return on equity of 12.16% and a net margin of 17.43%. The business had revenue of $877.00 million for the quarter, compared to analysts' expectations of $901.36 million. On average, analysts predict that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 4.36%. The ex-dividend date was Monday, March 10th. California Resources's dividend payout ratio (DPR) is presently 37.71%.

Insiders Place Their Bets

In related news, Director James N. Chapman bought 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, for a total transaction of $78,840.00. Following the acquisition, the director now owns 43,445 shares in the company, valued at $1,712,601.90. This represents a 4.83 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.03% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRC. Citigroup lowered shares of California Resources from a "buy" rating to a "neutral" rating and cut their price objective for the company from $62.00 to $36.00 in a research report on Monday, April 7th. Barclays reduced their price target on California Resources from $55.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Truist Financial began coverage on California Resources in a research report on Monday, January 13th. They issued a "buy" rating and a $75.00 price objective for the company. Finally, Royal Bank of Canada reduced their target price on California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, California Resources has a consensus rating of "Moderate Buy" and an average target price of $62.64.

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.