Dimensional Fund Advisors LP lifted its position in California Resources Co. (NYSE:CRC – Free Report) by 27.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,841,922 shares of the oil and gas producer’s stock after acquiring an additional 603,941 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.12% of California Resources worth $128,713,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in CRC. Crossmark Global Holdings Inc. purchased a new position in shares of California Resources in the 2nd quarter worth about $212,000. Maryland State Retirement & Pension System purchased a new position in shares of California Resources in the 2nd quarter worth about $1,245,000. LSV Asset Management boosted its holdings in shares of California Resources by 508.8% in the 1st quarter. LSV Asset Management now owns 1,262,151 shares of the oil and gas producer’s stock worth $48,593,000 after buying an additional 1,054,819 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in California Resources during the second quarter valued at about $562,000. Finally, HRT Financial LP lifted its holdings in California Resources by 183.9% during the first quarter. HRT Financial LP now owns 50,923 shares of the oil and gas producer’s stock valued at $1,960,000 after purchasing an additional 32,984 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.
Analyst Ratings Changes
CRC has been the topic of several recent research reports. Roth Mkm reaffirmed a “buy” rating and set a $56.00 price objective on shares of California Resources in a report on Thursday, September 21st. Stifel Nicolaus upped their price objective on shares of California Resources from $60.00 to $68.00 and gave the company a “buy” rating in a report on Monday, August 21st. Citigroup upped their price objective on shares of California Resources from $56.00 to $65.00 and gave the company a “buy” rating in a report on Monday, August 14th. Mizuho reaffirmed a “buy” rating and set a $70.00 price objective on shares of California Resources in a report on Monday, September 25th. Finally, Bank of America increased their price target on shares of California Resources from $63.00 to $64.00 in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.67.
California Resources Trading Down 1.0 %
Shares of CRC opened at $51.88 on Tuesday. The firm’s 50 day simple moving average is $54.02 and its 200 day simple moving average is $49.62. The company has a market capitalization of $3.56 billion, a P/E ratio of 8.33 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.34 and a quick ratio of 1.24. California Resources Co. has a 1-year low of $34.02 and a 1-year high of $58.44.
California Resources (NYSE:CRC – Get Free Report) last announced its earnings results on Wednesday, November 1st. The oil and gas producer reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.23. The business had revenue of $460.00 million for the quarter, compared to the consensus estimate of $524.16 million. California Resources had a net margin of 16.65% and a return on equity of 19.62%. California Resources’s quarterly revenue was down 59.1% on a year-over-year basis. During the same period last year, the firm posted $1.45 earnings per share. Sell-side analysts forecast that California Resources Co. will post 5.07 earnings per share for the current fiscal year.
California Resources Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.31 dividend. This is an increase from California Resources’s previous quarterly dividend of $0.17. This represents a $1.24 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, November 30th. California Resources’s dividend payout ratio (DPR) is currently 19.90%.
California Resources Company Profile
California Resources Corporation operates as an independent oil and natural gas exploration and production 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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