California Resources Co. (NYSE:CRC) Shares Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC raised its holdings in California Resources Co. (NYSE:CRC - Free Report) by 8.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 308,459 shares of the oil and gas producer's stock after buying an additional 24,154 shares during the quarter. Janus Henderson Group PLC owned approximately 0.34% of California Resources worth $16,006,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CRC. Yousif Capital Management LLC boosted its holdings in shares of California Resources by 0.7% in the 4th quarter. Yousif Capital Management LLC now owns 26,924 shares of the oil and gas producer's stock valued at $1,397,000 after purchasing an additional 196 shares during the last quarter. Arizona State Retirement System raised its position in shares of California Resources by 1.2% in the 4th quarter. Arizona State Retirement System now owns 18,199 shares of the oil and gas producer's stock worth $944,000 after buying an additional 222 shares during the period. Summit Investment Advisors Inc. raised its position in shares of California Resources by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,217 shares of the oil and gas producer's stock worth $374,000 after buying an additional 228 shares during the period. Mutual of America Capital Management LLC boosted its holdings in California Resources by 3.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 10,835 shares of the oil and gas producer's stock valued at $562,000 after acquiring an additional 371 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in California Resources by 5.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,929 shares of the oil and gas producer's stock valued at $360,000 after acquiring an additional 372 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.

Wall Street Analyst Weigh In

CRC has been the topic of a number of research reports. Barclays raised their price objective on California Resources from $47.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Truist Financial upgraded shares of California Resources to a "strong-buy" rating in a report on Tuesday, May 6th. Mizuho decreased their price objective on shares of California Resources from $64.00 to $60.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Royal Bank of Canada dropped their price objective on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, Roth Capital restated a "buy" rating on shares of California Resources in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.36.

California Resources Stock Down 1.4%

CRC stock traded down $0.59 during trading on Wednesday, reaching $42.77. The stock had a trading volume of 120,068 shares, compared to its average volume of 867,607. 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 firm has a fifty day moving average price of $39.05 and a 200 day moving average price of $47.25. The company has a market capitalization of $3.81 billion, a P/E ratio of 6.75, 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.

California Resources (NYSE:CRC - Get Free Report) last announced its 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 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 company's revenue for the quarter was up 100.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. On average, equities analysts anticipate that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.55 annualized dividend and a yield of 3.62%. California Resources's dividend payout ratio is presently 28.13%.

Insider Buying and Selling at California Resources

In related news, Director James N. Chapman purchased 2,000 shares of the company's stock in a transaction that occurred on 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 owns 43,445 shares in the company, valued at approximately $1,712,601.90. This represents a 4.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is currently owned by corporate insiders.

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.