Vanguard Group Inc. Has $424.11 Million Stock Holdings in California Resources Co. (NYSE:CRC)

Vanguard Group Inc. trimmed its holdings in California Resources Co. (NYSE:CRC) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,756,240 shares of the oil and gas producer’s stock after selling 58,390 shares during the quarter. Vanguard Group Inc. owned about 11.20% of California Resources worth $424,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Exchange Traded Concepts LLC raised its stake in California Resources by 1.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 14,395 shares of the oil and gas producer’s stock worth $787,000 after buying an additional 205 shares during the period. Public Employees Retirement System of Ohio raised its stake in California Resources by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 44,054 shares of the oil and gas producer’s stock worth $2,467,000 after buying an additional 242 shares during the period. Diversified Trust Co raised its stake in California Resources by 6.9% during the 4th quarter. Diversified Trust Co now owns 10,991 shares of the oil and gas producer’s stock worth $601,000 after buying an additional 708 shares during the period. Quadrant Capital Group LLC raised its stake in California Resources by 92.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,503 shares of the oil and gas producer’s stock worth $82,000 after buying an additional 722 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in California Resources by 56.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,397 shares of the oil and gas producer’s stock worth $134,000 after buying an additional 865 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at California Resources

In other California Resources news, Director Mark Allen Mcfarland sold 37,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 104,939 shares of the company’s stock, valued at $5,047,565.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.63% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CRC. Stifel Nicolaus upped their price target on California Resources from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Barclays started coverage on California Resources in a report on Wednesday, April 10th. They set an “equal weight” rating and a $62.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price objective on shares of California Resources in a report on Wednesday, June 12th. Finally, Mizuho boosted their price objective on California Resources from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Three research analysts have rated the stock with a hold rating and five have assigned a buy 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 $63.00.

California Resources Stock Performance

CRC stock opened at $51.73 on Thursday. The firm has a market cap of $3.55 billion, a PE ratio of 14.82, a P/E/G ratio of 0.59 and a beta of 0.97. 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 business has a 50 day moving average of $49.81 and a 200-day moving average of $51.78. California Resources Co. has a 12-month low of $42.90 and a 12-month high of $58.44.

California Resources (NYSE:CRC) last released its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.17. The company had revenue of $454.00 million during the quarter, compared to analyst estimates of $490.21 million. California Resources had a return on equity of 11.00% and a net margin of 11.34%. California Resources’s quarterly revenue was down 55.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.63 earnings per share. As a group, sell-side analysts expect that California Resources Co. will post 4.44 earnings per share for the current year.

California Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Friday, May 31st. California Resources’s dividend payout ratio (DPR) is 35.53%.

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.