Whittier Trust Co. Makes New $156,000 Investment in California Resources Co. (NYSE:CRC)

Whittier Trust Co. bought a new stake in shares of California Resources Co. (NYSE:CRC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,000 shares of the oil and gas producer’s stock, valued at approximately $156,000.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of California Resources by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer’s stock valued at $83,583,000 after acquiring an additional 55,815 shares during the period. Swiss National Bank lifted its stake in California Resources by 12.7% in the 3rd quarter. Swiss National Bank now owns 121,900 shares of the oil and gas producer’s stock valued at $6,396,000 after buying an additional 13,700 shares in the last quarter. Natixis Advisors LLC purchased a new position in California Resources in the 3rd quarter valued at about $579,000. State Street Corp lifted its stake in California Resources by 5.1% in the 3rd quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock worth $181,021,000 after purchasing an additional 168,278 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in California Resources in the 3rd quarter worth approximately $499,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRC has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of California Resources in a research report on Friday, December 20th. They set a “neutral” rating and a $63.00 price target on the stock. Truist Financial initiated coverage on shares of California Resources in a research note on Monday, January 13th. They issued a “buy” rating and a $75.00 price target for the company. TD Cowen boosted their price target on shares of California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of California Resources in a research note on Tuesday, January 14th. Finally, Barclays reduced their price target 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, California Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.08.

Insiders Place Their Bets

In other California Resources news, Director James N. Chapman purchased 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the completion of the transaction, the director now directly owns 43,445 shares of the company’s stock, valued at $1,712,601.90. This trade represents a 4.83 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.03% of the stock is currently owned by company insiders.

California Resources Trading Down 1.6 %

Shares of CRC opened at $43.71 on Monday. 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 firm’s 50-day moving average is $47.40 and its two-hundred day moving average is $51.33. California Resources Co. has a twelve month low of $38.02 and a twelve month high of $60.41. The firm has a market capitalization of $3.96 billion, a P/E ratio of 6.88, a PEG ratio of 1.02 and a beta of 1.06.

California Resources (NYSE:CRC) last issued its earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.05). California Resources had a return on equity of 12.16% and a net margin of 17.43%. The company had revenue of $877.00 million for the quarter, compared to analyst estimates of $901.36 million. On average, research analysts predict that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a dividend of $0.3875 per share. The ex-dividend date was Monday, March 10th. This represents a $1.55 annualized dividend and a yield of 3.55%. California Resources’s payout ratio is currently 37.71%.

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.