Vest Financial LLC Buys 149,737 Shares of California Resources Co. (NYSE:CRC)

Vest Financial LLC lifted its stake in California Resources Co. (NYSE:CRC) by 27.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 688,746 shares of the oil and gas producer’s stock after purchasing an additional 149,737 shares during the period. Vest Financial LLC owned 0.75% of California Resources worth $35,739,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CRC. State Street Corp lifted its holdings in California Resources by 5.1% in the third quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock worth $181,021,000 after buying an additional 168,278 shares during the period. Geode Capital Management LLC raised its holdings in California Resources by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer’s stock worth $83,583,000 after purchasing an additional 55,815 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of California Resources by 8.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,202 shares of the oil and gas producer’s stock valued at $51,116,000 after buying an additional 75,606 shares in the last quarter. Private Management Group Inc. increased its stake in shares of California Resources by 0.3% in the 3rd quarter. Private Management Group Inc. now owns 796,610 shares of the oil and gas producer’s stock worth $41,798,000 after acquiring an additional 2,651 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in California Resources by 3.7% during the fourth quarter. DAVENPORT & Co LLC now owns 731,712 shares of the oil and gas producer’s stock worth $37,969,000 after acquiring an additional 26,026 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

Insider Activity at California Resources

In related news, EVP Omar Hayat sold 16,016 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 30,940 shares of the company’s stock, valued at approximately $1,707,269.20. This represents a 34.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.63% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on California Resources in a research note on Friday, December 20th. They set a “neutral” rating and a $63.00 price objective for the company. Truist Financial began coverage on shares of California Resources in a research report on Monday, January 13th. They set a “buy” rating and a $75.00 price target for the company. TD Cowen lifted their target price on California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Capital One Financial raised California Resources to a “strong-buy” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price target on shares of California Resources in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.25.

California Resources Trading Down 2.0 %

Shares of California Resources stock opened at $46.97 on Friday. California Resources Co. has a 1-year low of $43.09 and a 1-year high of $60.41. The company’s fifty day simple moving average is $52.47 and its 200-day simple moving average is $52.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. The stock has a market capitalization of $4.29 billion, a PE ratio of 7.40, a P/E/G ratio of 1.01 and a beta of 1.04.

California Resources (NYSE:CRC) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.62. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $973.13 million. During the same quarter in the previous year, the company posted $1.02 earnings per share. California Resources’s revenue for the quarter was up 194.1% on a year-over-year basis. As a group, equities analysts anticipate that California Resources Co. will post 3.85 earnings per share for the current year.

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.