New York State Teachers Retirement System Sells 4,876 Shares of California Resources Co. (NYSE:CRC)

New York State Teachers Retirement System lowered its position in California Resources Co. (NYSE:CRC) by 18.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,100 shares of the oil and gas producer’s stock after selling 4,876 shares during the period. New York State Teachers Retirement System’s holdings in California Resources were worth $1,154,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CRC. Exchange Traded Concepts LLC boosted its holdings in shares of California Resources by 1.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 14,395 shares of the oil and gas producer’s stock valued at $787,000 after purchasing an additional 205 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of California Resources by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 44,054 shares of the oil and gas producer’s stock valued at $2,467,000 after purchasing an additional 242 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of California Resources by 16.3% during the 3rd quarter. Assetmark Inc. now owns 2,525 shares of the oil and gas producer’s stock valued at $141,000 after purchasing an additional 353 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of California Resources by 7.4% during the 1st quarter. Franklin Resources Inc. now owns 6,471 shares of the oil and gas producer’s stock valued at $249,000 after purchasing an additional 444 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in shares of California Resources by 69.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,454 shares of the oil and gas producer’s stock valued at $56,000 after buying an additional 594 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

California Resources Stock Performance

Shares of NYSE:CRC opened at $53.81 on Thursday. The firm has a market cap of $3.70 billion, a PE ratio of 6.97 and a beta of 1.02. The firm’s 50 day simple moving average is $53.88 and its 200-day simple moving average is $52.68. California Resources Co. has a one year low of $37.21 and a one year high of $58.44. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.39 and a current ratio of 1.51.

California Resources (NYSE:CRC) last issued its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.08). The company had revenue of $726.00 million for the quarter, compared to analysts’ expectations of $553.47 million. California Resources had a return on equity of 17.57% and a net margin of 20.14%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $1.24 earnings per share. As a group, equities analysts predict that California Resources Co. will post 4.57 EPS for the current year.

California Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Tuesday, March 5th. California Resources’s dividend payout ratio (DPR) is presently 16.06%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRC. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of California Resources in a research report on Wednesday, March 6th. Barclays started coverage on shares of California Resources in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $62.00 target price on the stock. Mizuho reduced their price objective on shares of California Resources from $69.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Stifel Nicolaus reduced their price objective on shares of California Resources from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Bank of America lowered shares of California Resources from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $64.00 to $60.00 in a research report on Friday, January 5th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, California Resources has a consensus rating of “Moderate Buy” and an average price target of $63.43.

California Resources Company 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.