California Resources Corporation $CRC Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its position in California Resources Corporation (NYSE:CRC) by 5.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,006,430 shares of the oil and gas producer’s stock after purchasing an additional 159,708 shares during the quarter. American Century Companies Inc. owned about 3.59% of California Resources worth $159,882,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRC. Clearstead Advisors LLC boosted its holdings in California Resources by 82.5% during the third quarter. Clearstead Advisors LLC now owns 500 shares of the oil and gas producer’s stock worth $27,000 after buying an additional 226 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in California Resources during the 3rd quarter worth $29,000. Nomura Asset Management Co. Ltd. lifted its stake in California Resources by 97.9% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 460 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of California Resources by 29.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 956 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 219 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of California Resources by 242.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,476 shares of the oil and gas producer’s stock worth $67,000 after acquiring an additional 1,045 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

California Resources Stock Up 2.9%

California Resources stock opened at $58.97 on Monday. California Resources Corporation has a fifty-two week low of $30.97 and a fifty-two week high of $60.03. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 13.71 and a beta of 1.11. 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 fifty day moving average is $50.85 and its two-hundred day moving average is $49.86.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CRC shares. Mizuho lifted their target price on California Resources from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Wells Fargo & Company restated an “overweight” rating and set a $56.00 price target (down from $58.00) on shares of California Resources in a report on Tuesday, December 9th. Barclays set a $65.00 price objective on California Resources and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada set a $70.00 target price on California Resources in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of California Resources in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.90.

California Resources Profile

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.