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California Resources Co. (NYSE:CRC) shares bought by Vanguard Group Inc.

California Resources Co. (NYSE:CRC) shares bought by Vanguard Group Inc.


Vanguard Group Inc. increased its position in shares of California Resources Co. (NYSE:CRC – Free Report) by 4.4% during the 1st quarter, according to the company’s most recent filing with the SEC. The company owned 8,100,283 shares of the oil and gas producer after buying an additional 344,043 shares during the quarter. Vanguard Group Inc. owned about 11.78% of California Resources worth $446,326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company recently. Quadrant Capital Group LLC increased its position in California Resources by 92.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,503 shares of the oil and gas producer’s stock worth $82,000 after purchasing an additional 722 shares during the period. Texas Permanent School Fund Corp increased its position in California Resources by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 56,452 shares of the oil and gas producer’s stock worth $3,111,000 after purchasing an additional 738 shares during the period. ProShare Advisors LLC increased its position in California Resources by 7.5% in the first quarter. ProShare Advisors LLC now owns 13,937 shares of the oil and gas producer’s stock worth $768,000 after purchasing an additional 967 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of California Resources by 10.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,927 shares of the oil and gas producer’s stock worth $652,000 after purchasing an additional 1,115 shares during the period. Finally, Yousif Capital Management LLC increased its position in shares of California Resources by 3.6% in the fourth quarter. Yousif Capital Management LLC now owns 33,284 shares of the oil and gas producer’s stock worth $1,820,000 after purchasing an additional 1,151 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.

California Resources Stock Performance

CRC opened at $51.12 on Friday. The company has a market cap of $3.50 billion, a PE ratio of 14.65, a PEG ratio of 0.86 and a beta of 0.98. California Resources Co. has a 12-month low of $43.30 and a 12-month high of $58.44. The company’s 50-day moving average price is $49.75 and its 200-day moving average price is $51.59. The company has a current ratio of 1.41, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26.

California Resources (NYSE:CRC – Get Free Report) last released its quarterly earnings results on Tuesday, May 7. The oil and gas producer reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.17. The company had revenue of $454.00 million for the quarter, compared to analyst estimates of $490.21 million. California Resources had a net margin of 11.34% and a return on equity of 11.00%. California Resources’ quarterly revenue was down 55.7% year-over-year. During the same period last year, the company posted $2.63 EPS. As a group, sell-side analysts expect that California Resources Co. will post 4.99 EPS for the current fiscal year.

California Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.31 per share. This represents an annualized dividend of $1.24 and a yield of 2.43%. The ex-dividend date for this dividend was Friday, May 31st. California Resources’ dividend payout ratio (DPR) is currently 35.53%.

Insiders place their bets

In other California Resources news, Director Mark Allen Mcfarland sold 37,000 shares of California Resources stock in a transaction dated Tuesday, May 28. The shares were sold at an average price of $48.10, for a total transaction of $1,779,700.00. Following 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 legal filing with the Securities & Exchange Commission, available on the SEC website. 0.03% of the shares are held by insiders.

Wall Street analysts weigh in

Several brokerages have recently issued reports on CRC. Royal Bank of Canada reiterated an “outperform” rating and gave a $65.00 price target on shares of California Resources in a research report on Wednesday, June 12th. Citigroup initiated coverage on shares of California Resources in a research report on Friday, July 19th. They gave a “buy” rating and a $63.00 price target on the stock. Mizuho increased their price target on shares of California Resources from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Barclays initiated coverage on shares of California Resources in a research report on Wednesday, April 10th. They gave an “equal weight” rating and a $62.00 price target on the stock. Finally, Stifel Nicolaus raised their price target on shares of California Resources from $68.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, April 23. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the firm has a consensus rating of “Moderate Buy” and an average price target of $62.71.

Check out our latest California Resources Report

Profile of Californian Sources

(Free Report)

California Resources Corporation operates as an independent oil and natural gas exploration, production and carbon management company in the United States. The Company explores, produces and sells crude oil, natural gas and natural gas liquids to marketers, refiners in California and other buyers who have access to transportation and storage facilities.

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Quarterly Institutional Ownership for California Resources (NYSE:CRC)



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