California Resources Co. (NYSE:CRC) Shares Bought by Laurion Capital Management LP

Laurion Capital Management LP grew its holdings in California Resources Co. (NYSE:CRC) by 18.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,182 shares of the oil and gas producer’s stock after buying an additional 1,109 shares during the period. Laurion Capital Management LP’s holdings in California Resources were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Interval Partners LP acquired a new stake in shares of California Resources in the fourth quarter valued at about $624,000. Janus Henderson Group PLC raised its position in shares of California Resources by 8.5% in the fourth quarter. Janus Henderson Group PLC now owns 308,459 shares of the oil and gas producer’s stock valued at $16,006,000 after buying an additional 24,154 shares during the last quarter. Clark Capital Management Group Inc. raised its position in shares of California Resources by 131.9% in the fourth quarter. Clark Capital Management Group Inc. now owns 81,591 shares of the oil and gas producer’s stock valued at $4,234,000 after buying an additional 46,404 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of California Resources by 147.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 96,873 shares of the oil and gas producer’s stock valued at $5,027,000 after buying an additional 57,669 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of California Resources by 7.4% in the fourth quarter. Deutsche Bank AG now owns 240,328 shares of the oil and gas producer’s stock valued at $12,471,000 after buying an additional 16,551 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

California Resources Stock Performance

CRC opened at $40.57 on Monday. The stock has a market cap of $3.68 billion, a PE ratio of 6.39, a P/E/G 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 $30.97 and a 1 year high of $60.41. The stock’s 50 day simple moving average is $38.86 and its 200-day simple moving average is $47.66.

California Resources (NYSE:CRC) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 EPS for the quarter, beating the consensus estimate of $0.83 by $0.24. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The business had revenue of $912.00 million for the quarter, compared to analyst estimates of $862.14 million. During the same quarter in the previous year, the firm earned $0.75 EPS. California Resources’s quarterly revenue was up 100.9% on a year-over-year basis. Sell-side analysts forecast that California Resources Co. will post 3.85 EPS for the current year.

California Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Friday, May 30th. California Resources’s payout ratio is presently 28.13%.

Wall Street Analyst Weigh In

CRC has been the subject of a number of recent research reports. Bank of America reduced their target price on shares of California Resources from $64.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. UBS Group increased their target price on shares of California Resources from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup lowered shares of California Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $62.00 to $36.00 in a report on Monday, April 7th. Barclays upped their price objective on shares of California Resources from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Truist Financial upgraded shares of California Resources to a “strong-buy” rating in a research report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Insider Buying and Selling

In related news, Director James N. Chapman acquired 2,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $1,712,601.90. The trade was a 4.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.03% of the stock is currently owned by company insiders.

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.