California Resources Co. (NYSE:CRC) Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. reduced its stake in shares of California Resources Co. (NYSE:CRC) by 27.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 74,848 shares of the oil and gas producer’s stock after selling 28,811 shares during the period. Levin Capital Strategies L.P. owned approximately 0.08% of California Resources worth $3,884,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of California Resources during the 4th quarter worth $31,000. Nisa Investment Advisors LLC boosted 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 worth $56,000 after purchasing an additional 454 shares in the last quarter. GAMMA Investing LLC boosted 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 worth $62,000 after purchasing an additional 222 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of California Resources during the 3rd quarter worth $70,000. Finally, Blue Trust Inc. boosted its position in shares of California Resources by 518.4% during the 4th quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer’s stock worth $88,000 after purchasing an additional 1,410 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at California Resources

In other news, EVP Omar Hayat sold 16,016 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were 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 of the company’s stock, valued at $1,707,269.20. This represents a 34.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.03% of the stock is currently owned by corporate insiders.

California Resources Trading Down 0.1 %

Shares of CRC stock opened at $44.62 on Friday. The firm has a 50-day moving average price of $50.24 and a 200 day moving average price of $52.25. California Resources Co. has a twelve month low of $43.09 and a twelve month high of $60.41. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 7.03, a PEG ratio of 1.02 and a beta of 1.04. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Truist Financial assumed coverage on shares of California Resources in a research report on Monday, January 13th. They set a “buy” rating and a $75.00 target price on the stock. StockNews.com upgraded shares of California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. JPMorgan Chase & Co. began coverage on shares of California Resources in a research report on Friday, December 20th. They issued a “neutral” rating and a $63.00 price objective on the stock. TD Cowen boosted their price objective on shares of California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Capital One Financial upgraded shares of California Resources to a “strong-buy” rating in a research report on Monday, December 9th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.25.

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.