Oregon Public Employees Retirement Fund Raises Stock Position in California Resources Co. (NYSE:CRC)

Oregon Public Employees Retirement Fund boosted its position in shares of California Resources Co. (NYSE:CRC) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,833 shares of the oil and gas producer’s stock after purchasing an additional 416 shares during the period. Oregon Public Employees Retirement Fund’s holdings in California Resources were worth $873,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CRC. Weiss Asset Management LP purchased a new position in California Resources during the third quarter worth about $28,043,000. State Street Corp raised its stake in California Resources by 5.1% during the third quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock worth $181,021,000 after purchasing an additional 168,278 shares during the period. Vest Financial LLC raised its stake in California Resources by 27.8% during the fourth quarter. Vest Financial LLC now owns 688,746 shares of the oil and gas producer’s stock worth $35,739,000 after purchasing an additional 149,737 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of California Resources by 8.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 974,202 shares of the oil and gas producer’s stock valued at $51,116,000 after acquiring an additional 75,606 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of California Resources by 41.9% in the 4th quarter. Jennison Associates LLC now owns 214,436 shares of the oil and gas producer’s stock valued at $11,127,000 after acquiring an additional 63,338 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other California Resources news, EVP Omar Hayat sold 16,016 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total value of $883,762.88. Following the sale, the executive vice president now directly owns 30,940 shares in the company, valued at $1,707,269.20. This trade represents a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CRC. StockNews.com raised shares of California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. TD Cowen raised their price target on California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Capital One Financial raised California Resources to a “strong-buy” rating in a research note on Monday, December 9th. Truist Financial assumed coverage on California Resources in a research note on Monday, January 13th. They set a “buy” rating and a $75.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 target price on shares of California Resources in a research report on Tuesday, January 14th. Three investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.25.

California Resources Stock Performance

Shares of California Resources stock opened at $44.62 on Friday. The business has a 50-day simple moving average of $50.24 and a 200-day simple moving average of $52.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. California Resources Co. has a one year low of $43.09 and a one year high of $60.41. The company has a market cap of $4.08 billion, a PE ratio of 7.03, a P/E/G ratio of 1.02 and a beta of 1.04.

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.