LSV Asset Management Acquires 182,246 Shares of California Resources Co. (NYSE:CRC)

LSV Asset Management increased its holdings in shares of California Resources Co. (NYSE:CRC) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,125,466 shares of the oil and gas producer’s stock after buying an additional 182,246 shares during the period. LSV Asset Management owned 4.55% of California Resources worth $170,900,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in California Resources by 229.6% during the fourth quarter. Victory Capital Management Inc. now owns 885,906 shares of the oil and gas producer’s stock worth $48,441,000 after buying an additional 617,084 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in California Resources by 9.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 48,583 shares of the oil and gas producer’s stock valued at $2,657,000 after purchasing an additional 4,136 shares in the last quarter. Yousif Capital Management LLC increased its stake in 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 valued at $1,820,000 after purchasing an additional 1,151 shares in the last quarter. Jennison Associates LLC acquired a new stake in California Resources in the fourth quarter worth $5,585,000. Finally, Federated Hermes Inc. boosted its position in shares of California Resources by 1.0% during the fourth quarter. Federated Hermes Inc. now owns 224,799 shares of the oil and gas producer’s stock worth $12,292,000 after purchasing an additional 2,148 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

California Resources Stock Performance

CRC traded up $0.18 during trading hours on Friday, reaching $51.68. The company’s stock had a trading volume of 460,180 shares, compared to its average volume of 509,704. The firm has a market cap of $3.55 billion, a PE ratio of 6.69 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.39 and a current ratio of 1.51. The company’s 50-day moving average is $53.95 and its 200-day moving average is $52.66. California Resources Co. has a 52 week low of $37.21 and a 52 week high of $58.44.

California Resources (NYSE:CRC) last posted its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.93 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.08). California Resources had a net margin of 20.14% and a return on equity of 17.57%. The firm had revenue of $726.00 million during the quarter, compared to analyst estimates of $553.47 million. During the same period in the previous year, the company posted $1.24 EPS. California Resources’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that California Resources Co. will post 4.64 EPS for the current year.

California Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Wednesday, March 6th were given a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.40%. California Resources’s payout ratio is 16.06%.

Analyst Upgrades and Downgrades

CRC has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on California Resources from $68.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of California Resources in a research note on Wednesday, March 6th. Bank of America lowered shares of California Resources from a “buy” rating to a “neutral” rating and cut their price target for the company from $64.00 to $60.00 in a research note on Friday, January 5th. Mizuho decreased their price objective on California Resources from $69.00 to $63.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Barclays began coverage on California Resources in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $62.00 price target for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, California Resources presently has an average rating of “Moderate Buy” and a consensus price target of $63.57.

California Resources 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.