Loomis Sayles & Co. L P Buys 6,464 Shares of California Resources Co. (NYSE:CRC)

Loomis Sayles & Co. L P increased its stake in California Resources Co. (NYSE:CRC) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 254,680 shares of the oil and gas producer’s stock after acquiring an additional 6,464 shares during the period. Loomis Sayles & Co. L P’s holdings in California Resources were worth $13,215,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. R Squared Ltd bought a new stake in California Resources in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased 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 worth $53,000 after buying an additional 812 shares during the period. Nisa Investment Advisors LLC raised its holdings in 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 buying an additional 454 shares during the last quarter. GAMMA Investing LLC raised its holdings in 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 buying an additional 222 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in California Resources during the 3rd quarter valued at $70,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CRC. Truist Financial began coverage on shares of California Resources in a research note on Monday, January 13th. They set a “buy” rating and a $75.00 price objective for the company. JPMorgan Chase & Co. started 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. Capital One Financial raised California Resources to a “strong-buy” rating in a research note on Monday, December 9th. Barclays cut their price target on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $68.00 price objective on shares of California Resources in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $66.92.

Insider Transactions at California Resources

In other news, Director James N. Chapman acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the acquisition, the director now directly owns 43,445 shares in the company, valued at approximately $1,712,601.90. The trade was a 4.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

California Resources Price Performance

CRC stock opened at $43.80 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 1.02 and a beta of 1.06. The firm has a 50 day moving average price of $46.42 and a 200-day moving average price of $51.14. California Resources Co. has a 52-week low of $38.02 and a 52-week high of $60.41.

California Resources (NYSE:CRC) last released its earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 EPS 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 during the quarter, compared to the consensus estimate of $901.36 million. Equities research analysts forecast that California Resources Co. will post 3.85 EPS for the current fiscal year.

California Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $0.3875 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.55 annualized dividend and a yield of 3.54%. California Resources’s dividend payout ratio (DPR) is presently 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.