California Resources Corporation $CRC Shares Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH grew its position in California Resources Corporation (NYSE:CRC) by 41.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,817 shares of the oil and gas producer’s stock after acquiring an additional 8,494 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in California Resources were worth $1,288,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Nisa Investment Advisors LLC increased its holdings in shares of California Resources by 29.7% in the third quarter. Nisa Investment Advisors LLC now owns 956 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 219 shares during the period. Clearstead Advisors LLC increased its holdings in shares of California Resources by 82.5% in the third quarter. Clearstead Advisors LLC now owns 500 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 226 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of California Resources by 21.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,353 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 236 shares during the period. Xponance Inc. increased its holdings in shares of California Resources by 4.7% in the third quarter. Xponance Inc. now owns 5,301 shares of the oil and gas producer’s stock valued at $282,000 after purchasing an additional 237 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of California Resources by 27.8% in the fourth quarter. GAMMA Investing LLC now owns 1,698 shares of the oil and gas producer’s stock valued at $76,000 after purchasing an additional 369 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.

California Resources Trading Up 0.2%

Shares of CRC stock opened at $68.37 on Friday. The business’s fifty day moving average price is $64.26 and its 200 day moving average price is $53.93. California Resources Corporation has a 1-year low of $34.87 and a 1-year high of $71.98. The firm has a market capitalization of $6.07 billion, a PE ratio of 16.76 and a beta of 0.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.89 and a quick ratio of 0.79.

California Resources (NYSE:CRC) last announced its quarterly earnings data on Monday, March 2nd. The oil and gas producer reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). California Resources had a return on equity of 10.23% and a net margin of 9.89%.The business had revenue of $924.00 million for the quarter, compared to analyst estimates of $789.67 million. During the same period in the prior year, the company earned $0.91 EPS. The company’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that California Resources Corporation will post 5.03 EPS for the current fiscal year.

California Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 13th were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, March 13th. California Resources’s dividend payout ratio is currently 39.71%.

Wall Street Analysts Forecast Growth

CRC has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on California Resources from $72.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, March 17th. Pickering Energy Partners lowered California Resources from an “outperform” rating to a “neutral” rating in a report on Friday, January 9th. Barclays boosted their target price on California Resources from $67.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, March 16th. Royal Bank Of Canada set a $70.00 target price on California Resources in a report on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of California Resources in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $71.20.

Insiders Place Their Bets

In related news, Director Mark Allen Mcfarland sold 16,372 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $64.83, for a total transaction of $1,061,396.76. Following the transaction, the director owned 76,265 shares of the company’s stock, valued at $4,944,259.95. This represents a 17.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christopher D. Gould sold 24,347 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $62.21, for a total value of $1,514,626.87. Following the transaction, the executive vice president directly owned 131,537 shares in the company, valued at $8,182,916.77. This represents a 15.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 72,283 shares of company stock worth $4,636,646. Insiders own 0.53% of the company’s stock.

California Resources Company Profile

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.