Grantham Mayo Van Otterloo & Co. LLC Trims Holdings in California Resources Co. (NYSE:CRC)

Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in shares of California Resources Co. (NYSE:CRC) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 882,879 shares of the oil and gas producer’s stock after selling 54,400 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.97% of California Resources worth $45,813,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Yousif Capital Management LLC grew its stake in California Resources by 0.7% in the fourth quarter. Yousif Capital Management LLC now owns 26,924 shares of the oil and gas producer’s stock worth $1,397,000 after purchasing an additional 196 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 buying an additional 222 shares during the period. Arizona State Retirement System grew its position in shares of California Resources by 1.2% during the 4th quarter. Arizona State Retirement System now owns 18,199 shares of the oil and gas producer’s stock worth $944,000 after buying an additional 222 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of California Resources by 3.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 10,835 shares of the oil and gas producer’s stock valued at $562,000 after buying an additional 371 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of California Resources by 5.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,929 shares of the oil and gas producer’s stock valued at $360,000 after acquiring an additional 372 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at California Resources

In other news, Director James N. Chapman bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $39.42 per share, with a total value of $78,840.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.03% of the company’s stock.

California Resources Stock Performance

CRC opened at $34.80 on Friday. The company has a market cap of $3.15 billion, a P/E ratio of 5.48, a price-to-earnings-growth ratio of 1.02 and a beta of 1.03. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $45.26 and its 200-day moving average price is $50.89. California Resources Co. has a 52-week low of $34.43 and a 52-week high of $60.41.

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

California Resources Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 4.45%. California Resources’s dividend payout ratio is currently 37.71%.

Analyst Upgrades and Downgrades

CRC has been the topic of several recent research reports. Truist Financial started coverage on shares of California Resources in a report on Monday, January 13th. They set a “buy” rating and a $75.00 target price on the stock. Barclays dropped their price objective on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of California Resources in a research note on Thursday, March 27th. Capital One Financial raised California Resources to a “strong-buy” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. assumed coverage on California Resources in a report on Friday, December 20th. They issued a “neutral” rating and a $63.00 price target on the stock. Three 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. According to MarketBeat, California Resources presently has a consensus rating of “Moderate Buy” and an average target price of $66.92.

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.