American Century Companies Inc. Has $130.01 Million Stock Holdings in California Resources Corporation $CRC

American Century Companies Inc. boosted its holdings in California Resources Corporation (NYSE:CRC) by 10.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,846,722 shares of the oil and gas producer’s stock after purchasing an additional 270,562 shares during the quarter. American Century Companies Inc. owned about 3.40% of California Resources worth $130,010,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CRC. Nuveen LLC purchased a new position in California Resources in the first quarter worth $28,254,000. Millennium Management LLC increased its stake in California Resources by 255.5% in the 1st quarter. Millennium Management LLC now owns 677,093 shares of the oil and gas producer’s stock worth $29,772,000 after acquiring an additional 486,650 shares during the last quarter. Brandywine Global Investment Management LLC bought a new stake in shares of California Resources during the 1st quarter worth $14,456,000. Corigliano Investment Advisers LLC raised its holdings in shares of California Resources by 390.2% during the 1st quarter. Corigliano Investment Advisers LLC now owns 408,364 shares of the oil and gas producer’s stock valued at $17,956,000 after buying an additional 325,059 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in California Resources by 199.4% during the first quarter. Cubist Systematic Strategies LLC now owns 306,586 shares of the oil and gas producer’s stock valued at $13,481,000 after buying an additional 204,200 shares during the period. 97.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRC has been the topic of several recent analyst reports. UBS Group cut their target price on California Resources from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of California Resources in a report on Wednesday, October 8th. Barclays boosted their price objective on California Resources from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Mizuho set a $71.00 price objective on shares of California Resources in a report on Monday, September 15th. Finally, Zacks Research lowered California Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, California Resources currently has a consensus rating of “Moderate Buy” and an average target price of $66.27.

California Resources Price Performance

Shares of CRC stock opened at $46.70 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.78 and a current ratio of 0.89. The stock’s 50-day simple moving average is $49.95 and its 200-day simple moving average is $48.12. California Resources Corporation has a fifty-two week low of $30.97 and a fifty-two week high of $59.59. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 10.86 and a beta of 1.15.

California Resources (NYSE:CRC) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. California Resources had a return on equity of 11.59% and a net margin of 10.60%.The company had revenue of $855.00 million during the quarter, compared to analysts’ expectations of $888.58 million. During the same quarter in the previous year, the firm posted $1.50 EPS. The firm’s revenue was down 36.8% compared to the same quarter last year. As a group, equities analysts forecast that California Resources Corporation will post 3.85 earnings per share for the current fiscal year.

California Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.405 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.62 annualized dividend and a dividend yield of 3.5%. This is an increase from California Resources’s previous quarterly dividend of $0.39. California Resources’s dividend payout ratio (DPR) is presently 36.05%.

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.