California Resources Co. (NYSE:CRC) Director Buys $78,840.00 in Stock

California Resources Co. (NYSE:CRC) Director James N. Chapman bought 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $39.42 per share, with a total value of $78,840.00. Following the transaction, the director now directly owns 43,445 shares in the company, valued at approximately $1,712,601.90. The trade was a 4.83 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

California Resources Price Performance

CRC stock opened at $41.63 on Friday. The stock has a 50-day moving average price of $49.17 and a two-hundred day moving average price of $51.92. The stock has a market cap of $3.80 billion, a PE ratio of 6.56, 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 posted its quarterly earnings data 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). The business had revenue of $877.00 million for the quarter, compared to analyst estimates of $901.36 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. Equities analysts forecast that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $0.3875 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.55 dividend on an annualized basis and a yield of 3.72%. California Resources’s dividend payout ratio is 24.41%.

Analysts Set New Price Targets

CRC has been the subject of a number of recent analyst reports. Truist Financial initiated coverage on shares of California Resources in a research report on Monday, January 13th. They issued a “buy” rating and a $75.00 price objective for the company. TD Cowen upped their price objective on shares of California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. StockNews.com upgraded shares of California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. JPMorgan Chase & Co. initiated coverage on shares of California Resources in a research report on Friday, December 20th. They issued a “neutral” rating and a $63.00 price objective for the company. Finally, Barclays lowered their price objective on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.08.

Institutional Investors Weigh In On California Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. R Squared Ltd acquired a new stake in shares of California Resources in the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC boosted its holdings in shares of 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 valued at $53,000 after buying an additional 812 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of 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 buying an additional 454 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 222 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of California Resources in the 3rd quarter valued at approximately $70,000. Institutional investors own 97.79% 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.