California Resources Co. (NYSE:CRC) Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its stake in California Resources Co. (NYSE:CRC) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 24,088 shares of the oil and gas producer’s stock after acquiring an additional 592 shares during the quarter. Maryland State Retirement & Pension System’s holdings in California Resources were worth $1,250,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CRC. Atria Investments Inc acquired a new stake in California Resources during the 3rd quarter worth approximately $209,000. KBC Group NV lifted its holdings in California Resources by 29.1% during the 3rd quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 431 shares in the last quarter. Natixis Advisors LLC acquired a new stake in California Resources during the 3rd quarter worth approximately $579,000. Swiss National Bank lifted its holdings in California Resources by 12.7% during the 3rd quarter. Swiss National Bank now owns 121,900 shares of the oil and gas producer’s stock worth $6,396,000 after buying an additional 13,700 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in California Resources during the 3rd quarter worth approximately $499,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other California Resources news, Director James N. Chapman acquired 2,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $39.42 per share, with a total value of $78,840.00. Following the transaction, the director now owns 43,445 shares of the company’s stock, valued at approximately $1,712,601.90. This trade represents a 4.83 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by insiders.

California Resources Trading Down 1.6 %

NYSE CRC opened at $43.71 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. The firm’s fifty day moving average price is $47.40 and its 200 day moving average price is $51.31. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 6.88, a price-to-earnings-growth 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.

California Resources (NYSE:CRC) last issued its quarterly earnings data on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.05). California Resources had a return on equity of 12.16% and a net margin of 17.43%. The business had revenue of $877.00 million for the quarter, compared to analysts’ expectations of $901.36 million. On average, sell-side analysts expect that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

California Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Monday, March 10th. California Resources’s payout ratio is currently 37.71%.

Analysts Set New Price Targets

A number of research firms have issued reports on CRC. JPMorgan Chase & Co. began coverage on shares of California Resources in a report on Friday, December 20th. They set a “neutral” rating and a $63.00 target price on the stock. TD Cowen raised their price objective on shares of California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Capital One Financial upgraded shares of California Resources to a “strong-buy” rating in a report on Monday, December 9th. Truist Financial assumed coverage on shares of California Resources in a report on Monday, January 13th. They issued a “buy” rating and a $75.00 price objective on the stock. Finally, Barclays reduced their price objective on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.08.

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.