Interval Partners LP Takes Position in California Resources Co. (NYSE:CRC)

Interval Partners LP purchased a new stake in shares of California Resources Co. (NYSE:CRC - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 12,019 shares of the oil and gas producer's stock, valued at approximately $624,000.

Other institutional investors also recently bought and sold shares of the company. 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. Wedge Capital Management L L P NC raised its holdings in California Resources by 14.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 19,288 shares of the oil and gas producer's stock valued at $1,001,000 after buying an additional 2,437 shares during the period. Clear Harbor Asset Management LLC lifted its stake in shares of California Resources by 6.0% during the fourth quarter. Clear Harbor Asset Management LLC now owns 7,475 shares of the oil and gas producer's stock worth $388,000 after purchasing an additional 425 shares in the last quarter. 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. Finally, CX Institutional grew its position in California Resources by 5.6% in the fourth quarter. CX Institutional now owns 26,524 shares of the oil and gas producer's stock valued at $1,376,000 after acquiring an additional 1,411 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at California Resources

In related news, Director James N. Chapman bought 2,000 shares of the firm'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 directly owns 43,445 shares of the company's stock, valued at $1,712,601.90. The trade was a 4.83% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.03% of the stock is owned by corporate insiders.

California Resources Stock Performance

California Resources stock traded down $0.55 during midday trading on Friday, reaching $42.61. 508,872 shares of the stock traded hands, compared to its average volume of 866,790. California Resources Co. has a fifty-two week low of $30.97 and a fifty-two week high of $60.41. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 6.71, a PEG ratio of 1.02 and a beta of 1.06. The firm has a fifty day moving average price of $39.02 and a two-hundred day moving average price of $47.47. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.

California Resources (NYSE:CRC - Get Free Report) last announced 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. The company had revenue of $912.00 million during 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 firm's quarterly revenue was up 100.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. On average, equities research analysts forecast that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Announces Dividend

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 given a $0.3875 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.55 annualized dividend and a yield of 3.64%. California Resources's dividend payout ratio (DPR) is 28.13%.

Analyst Upgrades and Downgrades

CRC has been the topic of a number of research analyst reports. Bank of America reduced their price objective on shares of California Resources from $64.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Citigroup downgraded California Resources from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $62.00 to $36.00 in a research note on Monday, April 7th. StockNews.com upgraded California Resources from a "hold" rating to a "buy" rating in a research note on Monday. Roth Capital reiterated a "buy" rating on shares of California Resources in a research report on Wednesday, May 7th. Finally, Royal Bank of Canada dropped their price target 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. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.64.

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.