California Resources Co. (NYSE:CRC) Holdings Raised by KBC Group NV

KBC Group NV lifted its position in shares of California Resources Co. (NYSE:CRC) by 32.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,526 shares of the oil and gas producer’s stock after acquiring an additional 616 shares during the quarter. KBC Group NV’s holdings in California Resources were worth $131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in California Resources by 61.5% during the third quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 371 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 period. Point72 DIFC Ltd bought a new stake in shares of California Resources during the 3rd quarter valued at about $70,000. Blue Trust Inc. raised its stake in California Resources by 518.4% during the fourth quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer’s stock worth $88,000 after acquiring an additional 1,410 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in California Resources by 9.4% in the third quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock worth $169,000 after acquiring an additional 276 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on CRC shares. UBS Group assumed coverage on California Resources in a report on Wednesday, October 16th. They set a “buy” rating and a $68.00 target price for the company. Truist Financial started coverage on California Resources in a research report on Monday, January 13th. They issued a “buy” rating and a $75.00 target price on the stock. StockNews.com upgraded California Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Stephens assumed coverage on shares of California Resources in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price target for the company. Finally, Jefferies Financial Group initiated coverage on shares of California Resources in a research report on Thursday, October 24th. They issued a “buy” rating and a $64.00 price objective on the stock. Three research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.25.

Insider Transactions at California Resources

In related news, EVP Omar Hayat sold 16,016 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $55.18, for a total transaction of $883,762.88. Following the completion of the sale, the executive vice president now directly owns 30,940 shares of the company’s stock, valued at $1,707,269.20. This represents a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.03% of the company’s stock.

California Resources Stock Down 0.6 %

CRC stock opened at $47.90 on Friday. The firm’s 50-day moving average is $52.71 and its two-hundred day moving average is $52.42. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 1.01 and a beta of 1.04. California Resources Co. has a 52 week low of $43.09 and a 52 week high of $60.41.

California Resources (NYSE:CRC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.62. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $973.13 million. During the same period last year, the company posted $1.02 EPS. The firm’s quarterly revenue was up 194.1% on a year-over-year basis. On average, analysts forecast that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

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.