Maven Securities LTD Takes $259,000 Position in California Resources Co. (NYSE:CRC)

Maven Securities LTD acquired a new stake in California Resources Co. (NYSE:CRC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,000 shares of the oil and gas producer’s stock, valued at approximately $259,000.

Several other large investors have also made changes to their positions in CRC. First Trust Advisors LP boosted its holdings in shares of California Resources by 14.2% in the 4th quarter. First Trust Advisors LP now owns 6,818,266 shares of the oil and gas producer’s stock valued at $353,800,000 after acquiring an additional 845,694 shares during the last quarter. American Century Companies Inc. boosted its holdings in California Resources by 14.2% during the fourth quarter. American Century Companies Inc. now owns 2,327,712 shares of the oil and gas producer’s stock worth $120,785,000 after buying an additional 290,263 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in California Resources by 285.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 318,593 shares of the oil and gas producer’s stock worth $16,532,000 after buying an additional 235,955 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in California Resources by 158.7% during the fourth quarter. JPMorgan Chase & Co. now owns 374,793 shares of the oil and gas producer’s stock worth $19,448,000 after buying an additional 229,940 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in California Resources by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 9,345,789 shares of the oil and gas producer’s stock worth $484,953,000 after buying an additional 225,620 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director James N. Chapman acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the completion of the transaction, the director now owns 43,445 shares in the company, valued at approximately $1,712,601.90. This trade 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 is available at this link. 0.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CRC has been the topic of a number of recent analyst reports. Roth Capital reissued a “buy” rating on shares of California Resources in a report on Wednesday, May 7th. Barclays increased their price target on shares of California Resources from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Mizuho lowered their price target on shares of California Resources from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday. Royal Bank of Canada lowered their price target 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. Finally, Truist Financial raised shares of California Resources to a “strong-buy” rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.64.

California Resources Price Performance

Shares of NYSE CRC opened at $43.81 on Wednesday. The firm has a 50-day simple moving average of $38.95 and a 200-day simple moving average of $47.56. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 6.90, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. 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 52 week low of $30.97 and a 52 week high of $60.41.

California Resources (NYSE:CRC) last issued its earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.24. The business had revenue of $912.00 million during the quarter, compared to analysts’ expectations of $862.14 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The company’s quarterly revenue was up 100.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. On average, equities analysts predict that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The firm 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 $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Friday, May 30th. California Resources’s dividend payout ratio (DPR) is 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.