Point72 DIFC Ltd Purchases Shares of 1,342 California Resources Co. (NYSE:CRC)

Point72 DIFC Ltd acquired a new position in shares of California Resources Co. (NYSE:CRC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,342 shares of the oil and gas producer’s stock, valued at approximately $70,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in California Resources by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,576,306 shares of the oil and gas producer’s stock valued at $190,328,000 after buying an additional 165,629 shares during the period. American Century Companies Inc. increased its stake in shares of California Resources by 18.1% during the second quarter. American Century Companies Inc. now owns 1,631,432 shares of the oil and gas producer’s stock valued at $86,825,000 after acquiring an additional 250,367 shares during the period. Victory Capital Management Inc. raised its holdings in California Resources by 10.7% during the second quarter. Victory Capital Management Inc. now owns 1,078,123 shares of the oil and gas producer’s stock worth $57,378,000 after purchasing an additional 104,504 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in California Resources by 8.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 974,202 shares of the oil and gas producer’s stock worth $51,116,000 after purchasing an additional 75,606 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in California Resources by 2,615.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,011 shares of the oil and gas producer’s stock valued at $44,865,000 after purchasing an additional 811,963 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

California Resources Stock Up 5.1 %

Shares of NYSE:CRC opened at $56.36 on Tuesday. California Resources Co. has a 52 week low of $43.09 and a 52 week high of $60.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The company has a market cap of $3.83 billion, a PE ratio of 8.88, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The firm has a 50 day simple moving average of $54.93 and a 200 day simple moving average of $51.76.

California Resources (NYSE:CRC) last released its earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.62. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $973.13 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The company’s revenue for the quarter was up 194.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 earnings per share. As a group, research analysts expect that California Resources Co. will post 3.42 earnings per share for the current year.

California Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.3875 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.55 annualized dividend and a yield of 2.75%. California Resources’s dividend payout ratio (DPR) is presently 24.41%.

Insider Transactions at California Resources

In other news, VP Noelle M. Repetti sold 8,770 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total value of $488,927.50. Following the transaction, the vice president now directly owns 8,531 shares of the company’s stock, valued at approximately $475,603.25. This represents a 50.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.63% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stephens began coverage on California Resources in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $73.00 price objective on the stock. Barclays upped their price target on shares of California Resources from $55.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. UBS Group initiated coverage on shares of California Resources in a research note on Wednesday, October 16th. They issued a “buy” rating and a $68.00 price objective on the stock. StockNews.com raised shares of California Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Citigroup lifted their price target on shares of California Resources from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.40.

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.