California Resources Corporation $CRC Shares Acquired by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lifted its holdings in California Resources Corporation (NYSE:CRC) by 17.3% during the second quarter, Holdings Channel reports. The institutional investor owned 297,270 shares of the oil and gas producer’s stock after purchasing an additional 43,841 shares during the quarter. Loomis Sayles & Co. L P’s holdings in California Resources were worth $13,576,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new stake in California Resources in the second quarter valued at $35,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of California Resources by 97.9% in the second quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 460 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in California Resources during the first quarter worth about $79,000. Strs Ohio acquired a new position in California Resources during the first quarter worth about $106,000. Finally, Virtus Investment Advisers LLC grew its position in California Resources by 24.1% during the second quarter. Virtus Investment Advisers LLC now owns 3,681 shares of the oil and gas producer’s stock worth $168,000 after buying an additional 716 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

California Resources Price Performance

NYSE:CRC opened at $47.78 on Monday. California Resources Corporation has a 12-month low of $30.97 and a 12-month high of $59.38. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 11.11 and a beta of 1.15. The company’s 50-day moving average is $49.18 and its two-hundred day moving average is $48.24. The company has a current ratio of 0.89, a quick ratio of 0.78 and a debt-to-equity ratio of 0.26.

California Resources (NYSE:CRC) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. The business had revenue of $855.00 million during the quarter, compared to the consensus estimate of $888.58 million. California Resources had a net margin of 10.60% and a return on equity of 11.59%. The company’s quarterly revenue was down 36.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.50 earnings per share. Research analysts expect that California Resources Corporation will post 3.85 EPS for the current year.

California Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.405 dividend. This is a boost from California Resources’s previous quarterly dividend of $0.39. The ex-dividend date is Monday, December 1st. This represents a $1.62 annualized dividend and a yield of 3.4%. California Resources’s payout ratio is presently 36.05%.

Wall Street Analysts Forecast Growth

CRC has been the topic of several research analyst reports. Roth Capital set a $63.00 price target on California Resources in a research note on Monday, September 15th. Zacks Research cut California Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. upped their target price on California Resources from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Jefferies Financial Group set a $71.00 price target on California Resources and gave the company a “buy” rating in a research report on Sunday, September 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of California Resources in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.50.

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.