California Resources Co. (NYSE:CRC) Stock Holdings Lifted by First Trust Advisors LP

First Trust Advisors LP raised its position in shares of California Resources Co. (NYSE:CRCFree Report) by 44.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 617,216 shares of the oil and gas producer’s stock after buying an additional 189,675 shares during the quarter. First Trust Advisors LP owned 0.90% of California Resources worth $33,749,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of California Resources by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,299,902 shares of the oil and gas producer’s stock worth $180,440,000 after buying an additional 190,588 shares during the period. LSV Asset Management lifted its stake in shares of California Resources by 6.2% in the fourth quarter. LSV Asset Management now owns 3,125,466 shares of the oil and gas producer’s stock worth $170,900,000 after buying an additional 182,246 shares during the last quarter. Pacer Advisors Inc. lifted its position in California Resources by 71.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,965,476 shares of the oil and gas producer’s stock worth $107,472,000 after acquiring an additional 821,827 shares during the last quarter. American Century Companies Inc. boosted its stake in California Resources by 13.2% during the 3rd quarter. American Century Companies Inc. now owns 925,185 shares of the oil and gas producer’s stock valued at $51,820,000 after purchasing an additional 108,123 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of California Resources by 229.6% in the fourth quarter. Victory Capital Management Inc. now owns 885,906 shares of the oil and gas producer’s stock valued at $48,441,000 after acquiring an additional 617,084 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price target on shares of California Resources in a research note on Wednesday, March 6th. Barclays started coverage on California Resources in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $62.00 price target for the company. Mizuho raised their price target on shares of California Resources from $63.00 to $64.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Stifel Nicolaus upped their target price on shares of California Resources from $68.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.71.

Read Our Latest Analysis on CRC

California Resources Price Performance

CRC opened at $47.50 on Monday. California Resources Co. has a 12 month low of $40.11 and a 12 month high of $58.44. The company has a quick ratio of 1.29, a current ratio of 1.41 and a debt-to-equity ratio of 0.26. The stock has a market cap of $3.26 billion, a P/E ratio of 13.61, a P/E/G ratio of 0.55 and a beta of 0.97. The company has a fifty day simple moving average of $51.24 and a 200 day simple moving average of $51.92.

California Resources (NYSE:CRCGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.17. California Resources had a net margin of 11.34% and a return on equity of 11.00%. The company had revenue of $454.00 million during the quarter, compared to the consensus estimate of $490.21 million. During the same quarter in the prior year, the firm earned $2.63 earnings per share. The firm’s revenue was down 55.7% compared to the same quarter last year. On average, research analysts expect that California Resources Co. will post 4.44 EPS for the current year.

California Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.61%. California Resources’s dividend payout ratio (DPR) is presently 35.53%.

Insider Buying and Selling at California Resources

In other news, Director Mark Allen Mcfarland sold 37,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $48.10, for a total transaction of $1,779,700.00. Following the sale, the director now owns 104,939 shares in the company, valued at approximately $5,047,565.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.03% of the company’s stock.

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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Institutional Ownership by Quarter for California Resources (NYSE:CRC)

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