Illinois Municipal Retirement Fund Increases Holdings in California Resources Co. (NYSE:CRC)

Illinois Municipal Retirement Fund grew its holdings in shares of California Resources Co. (NYSE:CRC) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,558 shares of the oil and gas producer’s stock after purchasing an additional 2,504 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in California Resources were worth $2,001,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CRC. R Squared Ltd purchased a new stake in shares of California Resources during the 4th quarter valued at $31,000. Nisa Investment Advisors LLC increased its position in shares of California Resources by 71.6% during 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 purchasing an additional 454 shares during the last quarter. GAMMA Investing LLC increased its position in shares of California Resources by 22.8% during the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer’s stock valued at $62,000 after purchasing an additional 222 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in California Resources in the 3rd quarter worth about $70,000. Finally, Blue Trust Inc. increased its holdings in California Resources by 518.4% in the 4th 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 last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

California Resources Price Performance

Shares of California Resources stock opened at $44.62 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The company has a market cap of $4.08 billion, a PE ratio of 7.03, a P/E/G ratio of 1.02 and a beta of 1.04. The business has a 50 day moving average of $50.24 and a 200 day moving average of $52.23. California Resources Co. has a 52 week low of $43.09 and a 52 week high of $60.41.

Analyst Ratings Changes

CRC has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of California Resources in a report on Tuesday, January 14th. StockNews.com raised California Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. JPMorgan Chase & Co. initiated coverage on California Resources in a report on Friday, December 20th. They issued a “neutral” rating and a $63.00 price objective for the company. TD Cowen lifted their price objective on California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Capital One Financial raised California Resources to a “strong-buy” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.25.

Insider Activity at California Resources

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

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.