Los Angeles Capital Management LLC reduced its position in shares of California Resources Co. (NYSE:CRC – free report) by 27.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,873 shares of the oil and gas producer after selling 3,400 shares during the period. Los Angeles Capital Management LLC's shares in California Resources were worth $485,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their positions in CRC. Exchange Traded Concepts LLC increased its position in California Resources by 1.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 14,395 shares of the oil and gas producer's stock valued at $787,000 after purchasing an additional 205 shares in the last quarter. The Public Employees Retirement System of Ohio increased its position in California Resources by 0.6% in the third quarter. The Public Employees Retirement System of Ohio now owns 44,054 shares of the oil and gas producer's stock valued at $2,467,000 after purchasing an additional 242 shares during the period. Assetmark Inc. increased its position in California Resources by 16.3% in the third quarter. Assetmark Inc. now owns 2,525 shares of the oil and gas producer's stock valued at $141,000 after purchasing an additional 353 shares during the period. Diversified Trust Co grew its position in California Resources by 6.9% in the fourth quarter. Diversified Trust Co now owns 10,991 shares of the oil and gas producer's stock valued at $601,000 after purchasing an additional 708 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in California Resources in the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 97.79% of the company's shares.

Wall Street analysts predict growth

CRC has been the subject of numerous research reports. Royal Bank of Canada reiterated its “outperform” rating and set a $70.00 price target on shares of California Resources in a research note on Wednesday, March 6th. Mizuho lowered their price target on California Resources from $69.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Stifel Nicolaus increased their price objective 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 23rd. Finally, Barclays initiated coverage on shares of 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $63.57.

Get our latest stock report on CRC

California Resources shares down 2.8%

NYSE CRC opened at $48.78 on Friday. California Resources Co. has a 52-week low of $37.21 and a 52-week high of $58.44. The company has a quick ratio of 1.39, a current ratio of 1.41 and a debt-to-equity ratio of 0.26. The company has a market cap of $3.34 billion, a P/E ratio of 13.98 and a beta of 1.03. The stock's 50-day moving average price is $53.69 and its 200-day moving average price is $52.52.

California Resources (NYSE:CRC – Get Free Report) last released its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.17. California Resources had a net margin of 11.34% and a return on equity of 11.00%. The company had revenue of $454.00 million for the quarter, compared to analysts' expectations of $490.21 million. In the same quarter last year, the company earned $2.63 in earnings per share. The company's revenue fell 55.7% compared to the same quarter last year. On average, equities analysts forecast that California Resources Co. will post earnings per share of 4.96 for the current year.

California Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.31. This equates to a dividend of $1.24 on an annual basis and a dividend yield of 2.54%. The ex-dividend date is Friday, May 31st. California Resources' dividend payout ratio (DPR) is 35.53%.

California Resource Profile

(Free Report)

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

Selected stories

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