Rhumbline Advisers decreased its holdings in shares of California Resources Co. (NYSE:CRC - Free Report) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 205,694 shares of the oil and gas producer's stock after selling 9,042 shares during the quarter. Rhumbline Advisers owned about 0.23% of California Resources worth $9,044,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Yousif Capital Management LLC boosted its holdings in California Resources by 0.7% in the fourth quarter. Yousif Capital Management LLC now owns 26,924 shares of the oil and gas producer's stock valued at $1,397,000 after acquiring an additional 196 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in California Resources by 2.4% during the fourth quarter. State of Alaska Department of Revenue now owns 40,652 shares of the oil and gas producer's stock worth $2,109,000 after purchasing an additional 947 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of California Resources by 84.3% in the fourth quarter. Empowered Funds LLC now owns 48,929 shares of the oil and gas producer's stock valued at $2,539,000 after buying an additional 22,383 shares in the last quarter. Entropy Technologies LP acquired a new stake in California Resources during the 4th quarter valued at $841,000. Finally, Louisiana State Employees Retirement System raised its stake in California Resources by 3.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 34,600 shares of the oil and gas producer's stock valued at $1,795,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. Roth Capital restated a "buy" rating on shares of California Resources in a report on Wednesday, May 7th. Wall Street Zen cut shares of California Resources from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Truist Financial raised shares of California Resources to a "strong-buy" rating in a research report on Tuesday, May 6th. Mizuho lowered their target price on shares of California Resources from $64.00 to $60.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Royal Bank of Canada lowered their target price on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, California Resources presently has a consensus rating of "Moderate Buy" and an average target price of $61.27.
View Our Latest Research Report on CRC
California Resources Stock Performance
Shares of NYSE:CRC traded up $1.01 during midday trading on Friday, hitting $47.27. The company's stock had a trading volume of 911,603 shares, compared to its average volume of 863,290. 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 stock's 50 day simple moving average is $39.73 and its 200 day simple moving average is $45.67. California Resources Co. has a fifty-two week low of $30.97 and a fifty-two week high of $60.41. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 1.02 and a beta of 1.17.
California Resources (NYSE:CRC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.24. The firm had revenue of $912.00 million during the quarter, compared to analysts' expectations of $862.14 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The company's revenue for the quarter was up 100.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. As a group, research analysts anticipate that California Resources Co. will post 3.85 earnings per share for the current year.
California Resources Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Friday, May 30th. California Resources's dividend payout ratio is 28.13%.
California Resources Profile
(
Free Report)
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.
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