Hussman Strategic Advisors Inc. Purchases 21,000 Shares of California Resources Co. (NYSE:CRC)

Hussman Strategic Advisors Inc. boosted its position in California Resources Co. (NYSE:CRC) by 36.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,000 shares of the oil and gas producer’s stock after buying an additional 21,000 shares during the quarter. California Resources makes up about 1.1% of Hussman Strategic Advisors Inc.’s portfolio, making the stock its 5th biggest position. Hussman Strategic Advisors Inc. owned about 0.11% of California Resources worth $4,151,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TFO Wealth Partners LLC increased its stake in California Resources by 67,800.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,358 shares of the oil and gas producer’s stock valued at $74,000 after buying an additional 1,356 shares during the last quarter. Quadrant Capital Group LLC increased its stake in California Resources by 92.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,503 shares of the oil and gas producer’s stock valued at $82,000 after buying an additional 722 shares during the last quarter. Privium Fund Management B.V. acquired a new stake in California Resources in the 2nd quarter valued at $258,000. Hyperion Capital Advisors LP acquired a new stake in California Resources in the 1st quarter valued at $275,000. Finally, Donoghue Forlines LLC acquired a new stake in California Resources in the 4th quarter valued at $282,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Buying and Selling at California Resources

In other California Resources news, Director Christian S. Kendall acquired 20,895 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $47.97 per share, with a total value of $1,002,333.15. Following the acquisition, the director now directly owns 24,600 shares of the company’s stock, valued at approximately $1,180,062. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.03% of the company’s stock.

California Resources Stock Performance

NYSE CRC traded down $0.36 during trading on Friday, reaching $52.47. The company’s stock had a trading volume of 488,452 shares, compared to its average volume of 812,269. The company has a current ratio of 2.43, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.29 and a beta of 0.98. California Resources Co. has a 12 month low of $43.09 and a 12 month high of $58.44. The firm has a 50 day moving average price of $50.75 and a 200 day moving average price of $51.43.

California Resources (NYSE:CRC) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.36). The business had revenue of $514.00 million during the quarter, compared to the consensus estimate of $477.07 million. California Resources had a net margin of 7.61% and a return on equity of 11.27%. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. As a group, equities analysts anticipate that California Resources Co. will post 3.45 EPS for the current fiscal year.

California Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.3875 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.55 dividend on an annualized basis and a yield of 2.95%. This is an increase from California Resources’s previous quarterly dividend of $0.31. California Resources’s payout ratio is currently 35.53%.

Analyst Ratings Changes

CRC has been the topic of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $65.00 price target on shares of California Resources in a research note on Monday, August 12th. TD Cowen initiated coverage on shares of California Resources in a research note on Friday, August 2nd. They set a “buy” rating and a $65.00 price objective on the stock. Citigroup initiated coverage on shares of California Resources in a research note on Friday, July 19th. They set a “buy” rating and a $63.00 price objective on the stock. Bank of America upgraded shares of California Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $57.00 to $65.00 in a research note on Wednesday, August 21st. Finally, Barclays lowered their price objective on shares of California Resources from $62.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.75.

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.