Tower Research Capital LLC TRC Has $264,000 Stock Holdings in California Resources Co. (NYSE:CRC)

Tower Research Capital LLC TRC reduced its position in shares of California Resources Co. (NYSE:CRC - Free Report) by 68.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,088 shares of the oil and gas producer's stock after selling 10,942 shares during the quarter. Tower Research Capital LLC TRC's holdings in California Resources were worth $264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of California Resources during the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC grew its position 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 valued at $53,000 after purchasing an additional 812 shares during the period. Nisa Investment Advisors LLC increased its stake 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 valued at $56,000 after purchasing an additional 454 shares in the last quarter. GAMMA Investing LLC raised its holdings in California Resources by 22.8% during the fourth quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer's stock worth $62,000 after buying an additional 222 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of California Resources by 518.4% in the fourth quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer's stock valued at $88,000 after buying an additional 1,410 shares in the last quarter. Institutional investors own 97.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CRC shares. Royal Bank of Canada lowered their target price on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Citigroup downgraded California Resources from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $62.00 to $36.00 in a research note on Monday, April 7th. Bank of America cut their target price on California Resources from $64.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Barclays lowered their price target on California Resources from $55.00 to $47.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial began coverage on shares of California Resources in a research note on Monday, January 13th. They issued a "buy" rating and a $75.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.27.

California Resources Price Performance

CRC opened at $36.17 on Friday. 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 50-day moving average of $39.32 and a 200 day moving average of $48.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The firm has a market cap of $3.28 billion, a P/E ratio of 5.70, a PEG ratio of 1.02 and a beta of 1.06.

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

California Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $0.3875 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.55 annualized dividend and a dividend yield of 4.29%. California Resources's payout ratio is presently 37.71%.

Insider Activity

In other news, Director James N. Chapman acquired 2,000 shares of the 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 purchase, the director now owns 43,445 shares of the company's stock, 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 hyperlink. Insiders own 0.03% of the company's stock.

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.

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