Mackenzie Financial Corp trimmed its stake in California Resources Co. (NYSE:CRC – Get Rating) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 187,021 shares of the oil and gas producer’s stock after selling 1,412 shares during the quarter. Mackenzie Financial Corp owned approximately 0.25% of California Resources worth $7,200,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in CRC. Assetmark Inc. increased its stake in California Resources by 194.5% in the second quarter. Assetmark Inc. now owns 692 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 457 shares during the last quarter. Meeder Asset Management Inc. increased its stake in California Resources by 722.8% in the second quarter. Meeder Asset Management Inc. now owns 1,802 shares of the oil and gas producer’s stock valued at $69,000 after purchasing an additional 1,583 shares during the last quarter. Platinum Investment Management Ltd. acquired a new position in California Resources in the first quarter valued at $90,000. Dupont Capital Management Corp acquired a new position in California Resources in the second quarter valued at $137,000. Finally, Jupiter Asset Management Ltd. acquired a new position in California Resources in the first quarter valued at $242,000.
California Resources Price Performance
Shares of NYSE CRC opened at $45.70 on Friday. California Resources Co. has a 1-year low of $35.95 and a 1-year high of $51.46. The business has a 50-day moving average of $43.24 and a 200-day moving average of $43.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.89. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 3.16 and a beta of 1.27.
California Resources Increases Dividend
Wall Street Analyst Weigh In
Several equities research analysts have commented on CRC shares. Stifel Nicolaus started coverage on California Resources in a research note on Wednesday, October 19th. They set a “buy” rating and a $63.00 price target for the company. TheStreet upgraded California Resources from a “d” rating to a “c-” rating in a research note on Friday, August 19th. Bank of America upgraded California Resources from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $49.00 to $58.00 in a research note on Tuesday, November 15th. Finally, StockNews.com lowered California Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $56.00.
California Resources Company Profile
California Resources Corporation operates as an independent oil and natural gas company. The company explores for, produces, gathers, processes, 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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