iA Global Asset Management Inc. Sells 650 Shares of California Resources Co. (NYSE:CRC)

iA Global Asset Management Inc. lessened its position in shares of California Resources Co. (NYSE:CRC) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,220 shares of the oil and gas producer’s stock after selling 650 shares during the period. iA Global Asset Management Inc.’s holdings in California Resources were worth $219,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of California Resources during the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC boosted its stake in shares of California Resources by 331.4% in the fourth 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 period. Nisa Investment Advisors LLC boosted its stake in shares of California Resources by 71.6% in the fourth 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. GAMMA Investing LLC boosted its stake in shares of California Resources by 22.8% in the fourth 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 period. Finally, Point72 DIFC Ltd bought a new stake in shares of California Resources in the third quarter valued at approximately $70,000. Institutional investors own 97.79% of the company’s stock.

California Resources Stock Down 1.6 %

Shares of NYSE:CRC opened at $43.71 on Friday. The company has a fifty day moving average of $47.40 and a 200-day moving average of $51.31. The company has a market capitalization of $3.97 billion, a PE ratio of 6.88, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. California Resources Co. has a 52-week low of $38.02 and a 52-week high of $60.41.

California Resources (NYSE:CRC) last announced its quarterly earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.05). The company 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%. On average, equities analysts predict that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $0.3875 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.55 annualized dividend and a dividend yield of 3.55%. California Resources’s dividend payout ratio is 37.71%.

Insider Buying and Selling

In other California Resources news, Director James N. Chapman acquired 2,000 shares of California Resources stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $39.42 per share, with a total value of $78,840.00. Following the completion of the purchase, the director now directly owns 43,445 shares in the company, valued at $1,712,601.90. This trade represents a 4.83 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.63% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Truist Financial assumed coverage on California Resources in a research note on Monday, January 13th. They issued a “buy” rating and a $75.00 price target for the company. Capital One Financial upgraded California Resources to a “strong-buy” rating in a research note on Monday, December 9th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of California Resources in a research report on Tuesday, January 14th. TD Cowen boosted 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. 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, March 5th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.08.

About California Resources

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.