Swiss National Bank Has $5 Million Holdings in California Resources Co. (NYSE:CRC)

Swiss National Bank lifted its holdings in shares of California Resources Co. (NYSE:CRCGet Rating) by 36.7% during the second quarter, Holdings Channel.com reports. The firm owned 129,900 shares of the oil and gas producer’s stock after acquiring an additional 34,900 shares during the quarter. Swiss National Bank’s holdings in California Resources were worth $5,001,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in California Resources by 1.1% in the first quarter. Vanguard Group Inc. now owns 7,489,832 shares of the oil and gas producer’s stock valued at $335,020,000 after buying an additional 80,779 shares during the period. State Street Corp lifted its holdings in California Resources by 21.2% in the first quarter. State Street Corp now owns 3,298,250 shares of the oil and gas producer’s stock valued at $147,531,000 after buying an additional 576,042 shares during the period. Renaissance Technologies LLC lifted its holdings in California Resources by 292.4% in the first quarter. Renaissance Technologies LLC now owns 853,136 shares of the oil and gas producer’s stock valued at $38,161,000 after buying an additional 635,700 shares during the period. Dimensional Fund Advisors LP lifted its holdings in California Resources by 32.7% in the first quarter. Dimensional Fund Advisors LP now owns 803,434 shares of the oil and gas producer’s stock valued at $35,945,000 after buying an additional 197,887 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in California Resources by 696.7% in the first quarter. Principal Financial Group Inc. now owns 792,391 shares of the oil and gas producer’s stock valued at $35,443,000 after buying an additional 692,931 shares during the period.

California Resources Price Performance

Shares of NYSE CRC opened at $44.58 on Friday. The firm’s 50-day moving average price is $43.26 and its 200-day moving average price is $43.38. California Resources Co. has a 1-year low of $35.95 and a 1-year high of $51.46. The firm has a market capitalization of $3.28 billion, a P/E ratio of 3.08 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.

California Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.282 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This is an increase from California Resources’s previous quarterly dividend of $0.17. This represents a $1.13 annualized dividend and a dividend yield of 2.53%. California Resources’s payout ratio is presently 4.70%.

Analysts Set New Price Targets

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

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

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