Clayton Partners LLC Has $7.20 Million Stock Holdings in California Resources Co. (NYSE:CRC)

Clayton Partners LLC lifted its holdings in shares of California Resources Co. (NYSE:CRC) by 13.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 138,657 shares of the oil and gas producer’s stock after acquiring an additional 15,900 shares during the quarter. California Resources makes up about 5.0% of Clayton Partners LLC’s portfolio, making the stock its 3rd biggest holding. Clayton Partners LLC owned 0.15% of California Resources worth $7,195,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc acquired a new position in California Resources in the 3rd quarter worth about $209,000. GSA Capital Partners LLP bought a new position in California Resources in the third quarter worth approximately $682,000. KBC Group NV boosted its holdings in California Resources by 29.1% in the third quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock worth $100,000 after acquiring an additional 431 shares in the last quarter. Natixis Advisors LLC purchased a new stake in shares of California Resources in the third quarter worth approximately $579,000. Finally, Swiss National Bank raised its stake in shares of California Resources by 12.7% in the third quarter. Swiss National Bank now owns 121,900 shares of the oil and gas producer’s stock worth $6,396,000 after purchasing an additional 13,700 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CRC. Barclays decreased their price target on California Resources from $57.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. TD Cowen boosted their price objective on California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. StockNews.com upgraded California Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Truist Financial began coverage on California Resources in a research report on Monday, January 13th. They set a “buy” rating and a $75.00 target price for the company. Finally, JPMorgan Chase & Co. started coverage on California Resources in a research report on Friday, December 20th. They set a “neutral” rating and a $63.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.08.

Insiders Place Their Bets

In other news, Director James N. Chapman bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $39.42 per share, with a total value of $78,840.00. Following the completion of the acquisition, the director now directly owns 43,445 shares of the company’s stock, valued at $1,712,601.90. This trade represents a 4.83 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.03% of the company’s stock.

California Resources Trading Up 3.6 %

CRC opened at $43.58 on Friday. The firm has a market cap of $3.96 billion, a P/E ratio of 6.86, a P/E/G ratio of 1.02 and a beta of 1.06. California Resources Co. has a 12 month low of $38.02 and a 12 month high of $60.41. 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 stock has a 50-day moving average of $48.26 and a 200 day moving average of $51.59.

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

California Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be issued a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Monday, March 10th. California Resources’s dividend payout ratio is presently 37.71%.

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.