Seven Eight Capital LP Has $793,000 Stake in California Resources Co. (NYSE:CRC)

Seven Eight Capital LP increased its holdings in shares of California Resources Co. (NYSE:CRCFree Report) by 12.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,509 shares of the oil and gas producer’s stock after acquiring an additional 1,599 shares during the quarter. Seven Eight Capital LP’s holdings in California Resources were worth $793,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. First Trust Advisors LP increased its holdings in shares of California Resources by 44.4% in the fourth quarter. First Trust Advisors LP now owns 617,216 shares of the oil and gas producer’s stock valued at $33,749,000 after purchasing an additional 189,675 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its stake in California Resources by 74.2% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 37,880 shares of the oil and gas producer’s stock valued at $2,071,000 after buying an additional 16,138 shares during the last quarter. TFO Wealth Partners LLC raised its holdings in California Resources by 67,800.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,358 shares of the oil and gas producer’s stock valued at $74,000 after acquiring an additional 1,356 shares during the period. TD Asset Management Inc acquired a new stake in California Resources during the fourth quarter worth approximately $2,149,000. Finally, US Bancorp DE boosted its holdings in shares of California Resources by 3,737.6% during the fourth quarter. US Bancorp DE now owns 13,585 shares of the oil and gas producer’s stock worth $743,000 after acquiring an additional 13,231 shares during the period. Institutional investors own 97.79% of the company’s stock.

California Resources Trading Down 0.2 %

Shares of California Resources stock opened at $47.39 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.41 and a debt-to-equity ratio of 0.26. California Resources Co. has a 12-month low of $40.89 and a 12-month high of $58.44. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.55 and a beta of 0.97. The firm’s 50-day moving average price is $51.11 and its two-hundred day moving average price is $51.89.

California Resources (NYSE:CRCGet Free Report) last posted its quarterly earnings results 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 business had revenue of $454.00 million for the quarter, compared to analyst estimates of $490.21 million. During the same quarter last year, the business posted $2.63 EPS. The firm’s revenue for the quarter was down 55.7% on a year-over-year basis. On average, analysts forecast that California Resources Co. will post 4.44 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.31 per share. The ex-dividend date is Friday, May 31st. This represents a $1.24 annualized dividend and a dividend yield of 2.62%. California Resources’s dividend payout ratio is currently 35.53%.

Insider Activity at California Resources

In other California Resources news, Director Mark Allen Mcfarland sold 37,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 104,939 shares of the company’s stock, valued at $5,047,565.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

View Our Latest Analysis on California Resources

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.

Recommended Stories

Want to see what other hedge funds are holding CRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for California Resources Co. (NYSE:CRCFree Report).

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

Receive News & Ratings for California Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Resources and related companies with MarketBeat.com's FREE daily email newsletter.