California Resources Co. (NYSE:CRC) Holdings Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in California Resources Co. (NYSE:CRC) by 229.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 885,906 shares of the oil and gas producer’s stock after acquiring an additional 617,084 shares during the period. Victory Capital Management Inc. owned 1.29% of California Resources worth $48,441,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of California Resources in the third quarter valued at approximately $45,000. PNC Financial Services Group Inc. increased its position in shares of 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 valued at $134,000 after purchasing an additional 865 shares during the period. Assetmark Inc. raised its stake in shares of California Resources by 16.3% in the 3rd quarter. Assetmark Inc. now owns 2,525 shares of the oil and gas producer’s stock worth $141,000 after buying an additional 353 shares in the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of California Resources in the third quarter valued at $211,000. Finally, Profund Advisors LLC acquired a new stake in shares of California Resources in the third quarter valued at $213,000. 97.79% of the stock is owned by institutional investors.

California Resources Trading Up 0.3 %

California Resources stock opened at $51.68 on Monday. California Resources Co. has a 52 week low of $37.21 and a 52 week high of $58.44. 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 firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 6.69 and a beta of 1.03. The company has a 50 day moving average price of $53.95 and a 200 day moving average price of $52.62.

California Resources (NYSE:CRC) last issued 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). The business had revenue of $726.00 million during the quarter, compared to analyst estimates of $553.47 million. California Resources had a return on equity of 17.57% and a net margin of 20.14%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $1.24 EPS. Research analysts forecast that California Resources Co. will post 4.64 EPS for the current year.

California Resources Announces Dividend

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

Analysts Set New Price Targets

CRC has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of California Resources from $68.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Mizuho dropped their target price on shares of California Resources from $69.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of California Resources in a report on Wednesday, March 6th. Finally, Barclays began coverage on California Resources in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $62.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.57.

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.