Loomis Sayles & Co. L P Grows Stake in California Resources Co. (NYSE:CRC)

Loomis Sayles & Co. L P lifted its stake in shares of California Resources Co. (NYSE:CRC) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 254,680 shares of the oil and gas producer’s stock after purchasing an additional 6,464 shares during the period. Loomis Sayles & Co. L P owned 0.28% of California Resources worth $13,215,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. R Squared Ltd purchased a new stake in California Resources in the fourth quarter worth $31,000. Smartleaf Asset Management LLC increased its holdings 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 worth $53,000 after acquiring an additional 812 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in California Resources by 71.6% in 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 acquiring an additional 454 shares during the period. GAMMA Investing LLC raised its stake in California Resources by 22.8% in the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer’s stock valued at $62,000 after acquiring an additional 222 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in California Resources during the third quarter valued at about $70,000. Institutional investors own 97.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CRC shares. Barclays lowered their price target on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 target price on shares of California Resources in a report on Thursday. Capital One Financial raised California Resources to a “strong-buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. began coverage on California Resources in a research note on Friday, December 20th. They set a “neutral” rating and a $63.00 price objective on the stock. Finally, Truist Financial started coverage on California Resources in a research note on Monday, January 13th. They issued a “buy” rating and a $75.00 target price for the company. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $66.92.

California Resources Stock Down 1.0 %

CRC stock opened at $43.80 on Friday. The company’s 50 day moving average is $46.42 and its 200 day moving average is $51.14. The stock has a market cap of $3.97 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 current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. California Resources Co. has a 1-year low of $38.02 and a 1-year high of $60.41.

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

California Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Monday, March 10th. California Resources’s dividend payout ratio (DPR) is currently 37.71%.

Insider Transactions at California Resources

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

California Resources Company 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.