Unison Advisors LLC Buys Shares of 15,307 California Resources Corporation $CRC

Unison Advisors LLC bought a new position in shares of California Resources Corporation (NYSE:CRC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,307 shares of the oil and gas producer’s stock, valued at approximately $684,000.

Several other institutional investors also recently modified their holdings of the stock. Clearstead Advisors LLC boosted its holdings in shares of California Resources by 82.5% during the 3rd quarter. Clearstead Advisors LLC now owns 500 shares of the oil and gas producer’s stock valued at $27,000 after acquiring an additional 226 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in California Resources in the 3rd quarter worth about $29,000. FNY Investment Advisers LLC bought a new position in California Resources in the third quarter valued at about $36,000. Allworth Financial LP raised its position in California Resources by 328.6% in the third quarter. Allworth Financial LP now owns 780 shares of the oil and gas producer’s stock valued at $41,000 after purchasing an additional 598 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of California Resources by 29.7% during 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 in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mark Allen Mcfarland sold 16,372 shares of the business’s stock in a transaction on Friday, March 6th. The shares were 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 in the company, valued at $4,944,259.95. The trade was a 17.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher D. Gould sold 24,347 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $62.21, for a total transaction of $1,514,626.87. Following the transaction, the executive vice president directly owned 131,537 shares in the company, valued at approximately $8,182,916.77. This represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 72,283 shares of company stock valued at $4,636,646 over the last 90 days. 0.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup boosted their price target on California Resources from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, March 30th. Mizuho lifted their target price on shares of California Resources from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. TD Cowen raised shares of California Resources to a “strong-buy” rating in a report on Monday, February 9th. Pickering Energy Partners cut shares of California Resources from an “outperform” rating to a “neutral” rating in a research report on Friday, January 9th. Finally, UBS Group raised their price target on shares of California Resources from $63.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $70.50.

California Resources Stock Performance

Shares of California Resources stock opened at $67.66 on Monday. The business has a 50-day moving average price of $60.12 and a two-hundred day moving average price of $52.32. California Resources Corporation has a 1-year low of $30.97 and a 1-year high of $71.98. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 0.35. The company has a market cap of $6.00 billion, a P/E ratio of 16.58 and a beta of 1.04.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). California Resources had a net margin of 9.89% and a return on equity of 10.23%. The business had revenue of $924.00 million during the quarter, compared to analyst estimates of $789.67 million. During the same period in the prior year, the firm earned $0.91 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that California Resources Corporation will post 3.85 EPS for the current year.

California Resources Dividend Announcement

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

California Resources 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.