State of Alaska Department of Revenue Boosts Holdings in California Resources Co. (NYSE:CRC)

State of Alaska Department of Revenue grew its stake in California Resources Co. (NYSE:CRC) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,652 shares of the oil and gas producer’s stock after buying an additional 947 shares during the period. State of Alaska Department of Revenue’s holdings in California Resources were worth $2,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRC. SG Americas Securities LLC raised its holdings in shares of California Resources by 165.9% in the third quarter. SG Americas Securities LLC now owns 7,541 shares of the oil and gas producer’s stock worth $396,000 after buying an additional 4,705 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of California Resources by 61.5% in the third quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 371 shares during the last quarter. CX Institutional raised its holdings in shares of California Resources by 4.8% in the third quarter. CX Institutional now owns 25,113 shares of the oil and gas producer’s stock worth $1,318,000 after buying an additional 1,152 shares during the last quarter. Creative Planning raised its holdings in shares of California Resources by 57.0% in the third quarter. Creative Planning now owns 20,743 shares of the oil and gas producer’s stock worth $1,088,000 after buying an additional 7,533 shares during the last quarter. Finally, AlphaMark Advisors LLC raised its holdings in shares of California Resources by 10.9% in the third quarter. AlphaMark Advisors LLC now owns 6,658 shares of the oil and gas producer’s stock worth $349,000 after buying an additional 652 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

California Resources Stock Up 3.3 %

CRC stock opened at $48.51 on Tuesday. The firm has a market cap of $4.43 billion, a PE ratio of 7.64, a P/E/G ratio of 0.98 and a beta of 1.04. 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 firm’s fifty day moving average is $52.29 and its 200 day moving average is $52.40. California Resources Co. has a one year low of $43.09 and a one year high of $60.41.

Analyst Ratings Changes

A number of research analysts have issued reports on CRC shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of California Resources in a report on Tuesday, January 14th. JPMorgan Chase & Co. started coverage on shares of California Resources in a research note on Friday, December 20th. They issued a “neutral” rating and a $63.00 price objective on the stock. Truist Financial started coverage on shares of California Resources in a research note on Monday, January 13th. They issued a “buy” rating and a $75.00 price objective on the stock. Jefferies Financial Group started coverage on shares of California Resources in a research note on Thursday, October 24th. They issued a “buy” rating and a $64.00 price objective on the stock. Finally, TD Cowen increased their price objective on shares of California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, California Resources currently has an average rating of “Moderate Buy” and an average target price of $67.25.

Insider Activity

In other news, EVP Omar Hayat sold 16,016 shares of California Resources stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $55.18, for a total value of $883,762.88. Following the sale, the executive vice president now owns 30,940 shares in the company, valued at $1,707,269.20. This trade represents a 34.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.03% of the company’s stock.

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.