Amalgamated Bank Buys 461 Shares of California Resources Co. (NYSE:CRC)

Amalgamated Bank increased its stake in shares of California Resources Co. (NYSE:CRC) by 2.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 20,867 shares of the oil and gas producer’s stock after purchasing an additional 461 shares during the quarter. Amalgamated Bank’s holdings in California Resources were worth $1,083,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. R Squared Ltd purchased a new stake in shares of California Resources during the fourth quarter valued at approximately $31,000. Nisa Investment Advisors LLC boosted its position 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 period. GAMMA Investing LLC grew its holdings in California Resources by 22.8% in the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer’s stock worth $62,000 after acquiring an additional 222 shares during the last quarter. Point72 DIFC Ltd bought a new stake in California Resources in the 3rd quarter worth $70,000. Finally, Blue Trust Inc. increased its position in shares of California Resources by 518.4% in the fourth quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer’s stock valued at $88,000 after acquiring an additional 1,410 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. began coverage on shares of California Resources in a research report on Friday, December 20th. They set a “neutral” rating and a $63.00 price objective on the stock. Capital One Financial raised shares of California Resources to a “strong-buy” rating in a research note on Monday, December 9th. TD Cowen lifted their price objective on California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. StockNews.com raised California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Truist Financial began coverage on California Resources in a research report on Monday, January 13th. They set a “buy” rating and a $75.00 price target on the stock. Three research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.25.

Insider Activity

In other California Resources news, EVP Omar Hayat sold 16,016 shares of California Resources stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $55.18, for a total value of $883,762.88. Following the completion of the sale, the executive vice president now owns 30,940 shares of the company’s stock, valued at approximately $1,707,269.20. The trade was a 34.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.03% of the stock is owned by corporate insiders.

California Resources Price Performance

CRC opened at $39.86 on Tuesday. The firm has a market cap of $3.64 billion, a PE ratio of 6.28, a P/E/G ratio of 1.02 and a beta of 1.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. California Resources Co. has a 1 year low of $39.17 and a 1 year high of $60.41. The stock has a 50-day moving average price of $50.02 and a 200-day moving average price of $52.20.

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

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.