Jennison Associates LLC Has $1.39 Million Stake in California Resources Corporation $CRC

04 May 2026, 05:58 by Doug Wharley · The Cerbat Gem

Jennison Associates LLC boosted its position in shares of California Resources Corporation (NYSE:CRC – Free Report) by 71.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,154 shares of the oil and gas producer’s stock after acquiring an additional 12,980 shares during the period. Jennison Associates LLC’s holdings in California Resources were worth $1,393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRC. AQR Capital Management LLC lifted its position in California Resources by 89.1% during the 1st quarter. AQR Capital Management LLC now owns 46,532 shares of the oil and gas producer’s stock worth $2,046,000 after acquiring an additional 21,923 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in California Resources by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,663 shares of the oil and gas producer’s stock worth $1,832,000 after acquiring an additional 2,394 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in California Resources by 38.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 657,628 shares of the oil and gas producer’s stock worth $28,916,000 after acquiring an additional 181,833 shares during the last quarter. Empowered Funds LLC lifted its position in California Resources by 3.8% during the 1st quarter. Empowered Funds LLC now owns 50,786 shares of the oil and gas producer’s stock worth $2,233,000 after acquiring an additional 1,857 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in California Resources by 17.7% during the 1st quarter. Intech Investment Management LLC now owns 31,870 shares of the oil and gas producer’s stock worth $1,401,000 after acquiring an additional 4,783 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CRC. Wells Fargo & Company boosted their price objective on shares of California Resources from $72.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, March 17th. UBS Group boosted their price objective on shares of California Resources from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Citigroup boosted their price objective on shares of California Resources from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, March 30th. Zacks Research upgraded shares of California Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, March 27th. Finally, Barclays boosted their price objective on shares of California Resources from $67.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Three 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 MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $71.20.

Get Our Latest Report on CRC

Insider Buying and Selling at California Resources

In related news, Director Mark Allen Mcfarland sold 16,372 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $64.83, for a total value of $1,061,396.76. Following the sale, the director owned 76,265 shares of the company’s stock, valued at $4,944,259.95. The trade was a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Noelle M. Repetti sold 8,564 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $63.71, for a total transaction of $545,612.44. Following the completion of the sale, the vice president directly owned 7,684 shares in the company, valued at approximately $489,547.64. The trade was a 52.71% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 72,283 shares of company stock worth $4,636,646. Insiders own 0.53% of the company’s stock.

California Resources Stock Performance

NYSE:CRC opened at $68.37 on Monday. The firm’s 50-day moving average is $64.26 and its 200-day moving average is $53.97. California Resources Corporation has a 52-week low of $34.87 and a 52-week high of $71.98. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 0.89. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 16.76 and a beta of 0.96.

California Resources (NYSE:CRC – Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The oil and gas producer reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). The company had revenue of $924.00 million for the quarter, compared to the consensus estimate of $789.67 million. California Resources had a return on equity of 10.23% and a net margin of 9.89%.The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. Equities research analysts anticipate that California Resources Corporation will post 5.03 earnings per share for the current year.

California Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors 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 dividend on an annualized basis and a yield of 2.4%. California Resources’s payout ratio is presently 39.71%.

California Resources Company Profile

(Free Report)

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.

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