California Resources Co. (NYSE:CRC) Shares Purchased by Diversified Trust Co

Diversified Trust Co raised its stake in California Resources Co. (NYSE:CRCFree Report) by 6.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,991 shares of the oil and gas producer’s stock after purchasing an additional 708 shares during the period. Diversified Trust Co’s holdings in California Resources were worth $601,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its stake in California Resources by 1.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 14,395 shares of the oil and gas producer’s stock valued at $787,000 after acquiring an additional 205 shares during the period. Public Employees Retirement System of Ohio boosted its position in California Resources by 0.6% during the 3rd quarter. 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. boosted its position in California Resources by 16.3% during the 3rd 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. Franklin Resources Inc. grew its stake in California Resources by 7.4% during the 1st quarter. Franklin Resources Inc. now owns 6,471 shares of the oil and gas producer’s stock worth $249,000 after buying an additional 444 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in California Resources by 69.1% in the second quarter. Captrust Financial Advisors now owns 1,454 shares of the oil and gas producer’s stock worth $56,000 after buying an additional 594 shares during the period. 97.79% of the stock is owned by institutional investors.

California Resources Stock Performance

Shares of NYSE CRC opened at $54.69 on Wednesday. California Resources Co. has a 1 year low of $35.19 and a 1 year high of $58.44. The firm has a market cap of $3.79 billion, a P/E ratio of 7.08 and a beta of 1.02. The stock has a fifty day moving average price of $51.79 and a two-hundred day moving average price of $52.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.39 and a current ratio of 1.51.

California Resources (NYSE:CRCGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.08). The firm had revenue of $726.00 million during the quarter, compared to analyst estimates of $553.47 million. California Resources had a net margin of 20.14% and a return on equity of 17.57%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. Research analysts forecast that California Resources Co. will post 5.11 EPS for the current fiscal year.

California Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.27%. California Resources’s dividend payout ratio (DPR) is 16.06%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRC. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target on shares of California Resources in a report on Wednesday, March 6th. Bank of America lowered shares of California Resources from a “buy” rating to a “neutral” rating and reduced their target price for the company from $64.00 to $60.00 in a research note on Friday, January 5th. Stifel Nicolaus upped their target price on shares of California Resources from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Finally, Mizuho lifted their price target on California Resources from $63.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $65.33.

View Our Latest Stock Report on California Resources

About California Resources

(Free Report)

California Resources Corporation operates as an independent oil and natural gas exploration and production 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.

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

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