Mitsubishi UFJ Trust & Banking Corp Has $289,000 Stock Holdings in California Resources Co. (NYSE:CRC)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of California Resources Co. (NYSE:CRCGet Rating) by 35.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,509 shares of the oil and gas producer’s stock after selling 4,091 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in California Resources were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. lifted its holdings in shares of California Resources by 194.5% during the second quarter. Assetmark Inc. now owns 692 shares of the oil and gas producer’s stock worth $27,000 after buying an additional 457 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of California Resources by 722.8% during the second quarter. Meeder Asset Management Inc. now owns 1,802 shares of the oil and gas producer’s stock worth $69,000 after buying an additional 1,583 shares in the last quarter. Platinum Investment Management Ltd. acquired a new stake in shares of California Resources during the first quarter worth $90,000. Dupont Capital Management Corp acquired a new stake in shares of California Resources during the second quarter worth $137,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of California Resources during the first quarter worth $242,000.

California Resources Stock Up 3.8 %

Shares of NYSE CRC opened at $46.15 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.95. California Resources Co. has a 52 week low of $35.95 and a 52 week high of $51.46. The stock has a market capitalization of $3.39 billion, a P/E ratio of 3.07 and a beta of 1.27. The stock’s fifty day moving average is $43.21 and its 200 day moving average is $43.35.

California Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Thursday, December 1st will be given a $0.282 dividend. This represents a $1.13 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Wednesday, November 30th. This is a boost from California Resources’s previous quarterly dividend of $0.17. California Resources’s payout ratio is currently 4.70%.

Analyst Upgrades and Downgrades

CRC has been the subject of a number of research reports. StockNews.com downgraded California Resources from a “buy” rating to a “hold” rating in a report on Wednesday, October 19th. TheStreet raised California Resources from a “d” rating to a “c-” rating in a report on Friday, August 19th. Bank of America upgraded California Resources from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $49.00 to $58.00 in a research report on Tuesday, November 15th. Finally, Stifel Nicolaus began coverage on California Resources in a research report on Wednesday, October 19th. They issued a “buy” rating and a $63.00 price target on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

About California Resources

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California Resources Corporation operates as an independent oil and natural gas company. The company explores for, produces, gathers, processes, 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.

See Also

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Institutional Ownership by Quarter for California Resources (NYSE:CRC)

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