California Resources Corporation $CRC Shares Bought by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH raised its position in California Resources Corporation (NYSE:CRC) by 41.8% during the 4th quarter, Holdings Channel reports. The firm owned 28,817 shares of the oil and gas producer’s stock after acquiring an additional 8,494 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in California Resources were worth $1,288,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its holdings in California Resources by 29.7% in the third quarter. Nisa Investment Advisors LLC now owns 956 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 219 shares during the last quarter. Clearstead Advisors LLC grew its holdings in California Resources by 82.5% in the third quarter. Clearstead Advisors LLC now owns 500 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 226 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in California Resources by 21.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,353 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 236 shares during the last quarter. Xponance Inc. grew its holdings in California Resources by 4.7% in the third quarter. Xponance Inc. now owns 5,301 shares of the oil and gas producer’s stock valued at $282,000 after purchasing an additional 237 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in California Resources by 27.8% in the fourth quarter. GAMMA Investing LLC now owns 1,698 shares of the oil and gas producer’s stock valued at $76,000 after purchasing an additional 369 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Buying and Selling

In other news, EVP Christopher D. Gould sold 24,347 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $62.21, for a total value of $1,514,626.87. Following the sale, the executive vice president directly owned 131,537 shares in the company, valued at $8,182,916.77. This represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Omar Hayat sold 23,000 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $65.87, for a total value of $1,515,010.00. Following the completion of the sale, the chief operating officer owned 82,236 shares in the company, valued at $5,416,885.32. This represents a 21.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 72,283 shares of company stock valued at $4,636,646 over the last three months. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

CRC has been the topic of several research reports. Barclays upped their target price on California Resources from $67.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, March 16th. Wall Street Zen raised California Resources from a “sell” rating to a “hold” rating in a report on Monday, April 6th. Citigroup upped their target price on California Resources from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, March 30th. Pickering Energy Partners lowered California Resources from an “outperform” rating to a “neutral” rating in a report on Friday, January 9th. Finally, Zacks Research raised California Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, California Resources has an average rating of “Buy” and a consensus price target of $71.20.

California Resources Stock Up 0.2%

Shares of NYSE:CRC opened at $68.37 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.89 and a debt-to-equity ratio of 0.35. California Resources Corporation has a 52-week low of $34.87 and a 52-week high of $71.98. The stock’s fifty day simple moving average is $64.26 and its 200-day simple moving average is $53.93. The company has a market capitalization of $6.07 billion, a P/E ratio of 16.76 and a beta of 0.96.

California Resources (NYSE:CRC) last issued its quarterly earnings data on Monday, March 2nd. The oil and gas producer reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). California Resources had a net margin of 9.89% and a return on equity of 10.23%. The company had revenue of $924.00 million during the quarter, compared to analysts’ expectations of $789.67 million. During the same quarter in the prior year, the company earned $0.91 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that California Resources Corporation will post 5.03 earnings per share for the current fiscal year.

California Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 13th were given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, March 13th. California Resources’s dividend payout ratio is currently 39.71%.

California Resources Company Profile

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.