DekaBank Deutsche Girozentrale lessened its stake in shares of California Resources Co. (NYSE:CRC – Get Rating) by 11.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,040 shares of the oil and gas producer's stock after selling 946 shares during the period. DekaBank Deutsche Girozentrale's holdings in California Resources were worth $267,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of California Resources during the 2nd quarter worth approximately $922,000. New York State Teachers Retirement System bought a new stake in shares of California Resources during the second quarter valued at approximately $277,000. Thomist Capital Management LP purchased a new position in California Resources during the 2nd quarter worth $7,857,000. Private Management Group Inc. raised its holdings in shares of California Resources by 26.3% in the second quarter. Private Management Group Inc. now owns 789,190 shares of the oil and gas producer's stock valued at $30,384,000 after acquiring an additional 164,574 shares in the last quarter. Finally, Penn Capital Management Company LLC grew its holdings in California Resources by 5.4% during the 2nd quarter. Penn Capital Management Company LLC now owns 293,236 shares of the oil and gas producer's stock worth $11,290,000 after acquiring an additional 14,982 shares in the last quarter.
Get California Resources alerts:California Resources Price Performance
Shares of NYSE CRC opened at $43.16 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.95. The company has a market cap of $3.17 billion, a PE ratio of 2.98 and a beta of 1.20. The business has a 50-day simple moving average of $43.90 and a two-hundred day simple moving average of $44.03. California Resources Co. has a fifty-two week low of $35.95 and a fifty-two week high of $51.46.
California Resources (NYSE:CRC – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The oil and gas producer reported $1.45 EPS for the quarter, beating the consensus estimate of $1.28 by $0.17. California Resources had a net margin of 43.44% and a return on equity of 28.71%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $755.00 million. As a group, equities analysts expect that California Resources Co. will post 5.51 EPS for the current fiscal year.California Resources Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Thursday, December 1st were given a dividend of $0.282 per share. The ex-dividend date was Wednesday, November 30th. This represents a $1.13 dividend on an annualized basis and a yield of 2.61%. This is a boost from California Resources's previous quarterly dividend of $0.17. California Resources's payout ratio is currently 7.81%.
Wall Street Analysts Forecast Growth
CRC has been the topic of several research reports. Mizuho initiated coverage on shares of California Resources in a report on Monday, January 9th. They set a "buy" rating and a $60.00 price objective on the stock. StockNews.com cut California Resources from a "buy" rating to a "hold" rating in a research note on Wednesday, October 19th. Stifel Nicolaus started coverage on California Resources in a research note on Wednesday, October 19th. They issued a "buy" rating and a $63.00 target price on the stock. Finally, Bank of America raised shares of California Resources from an "underperform" rating to a "neutral" rating and increased their price target for the company from $49.00 to $58.00 in a research report on Tuesday, November 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $56.67.
California Resources Company Profile
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California Resources Corporation operates as an independent oil and natural gas company. The company explores for, produces, gathers, processes, 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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