California Resources Co. (NYSE:CRC) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC lessened its position in California Resources Co. (NYSE:CRCFree Report) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,975 shares of the oil and gas producer’s stock after selling 350 shares during the period. Clear Harbor Asset Management LLC’s holdings in California Resources were worth $272,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cambria Investment Management L.P. raised its position in shares of California Resources by 8.5% in the third quarter. Cambria Investment Management L.P. now owns 167,856 shares of the oil and gas producer’s stock valued at $9,402,000 after buying an additional 13,104 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of California Resources in the third quarter valued at approximately $1,824,000. Lazard Asset Management LLC raised its position in shares of California Resources by 38.1% in the third quarter. Lazard Asset Management LLC now owns 10,616 shares of the oil and gas producer’s stock valued at $594,000 after buying an additional 2,931 shares during the last quarter. Xponance Inc. acquired a new position in shares of California Resources in the third quarter valued at approximately $241,000. Finally, Invesco Ltd. raised its position in shares of California Resources by 16.5% in the third quarter. Invesco Ltd. now owns 696,923 shares of the oil and gas producer’s stock valued at $39,035,000 after buying an additional 98,595 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

California Resources Price Performance

CRC opened at $55.10 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.51 and a debt-to-equity ratio of 0.24. California Resources Co. has a 52-week low of $37.21 and a 52-week high of $58.44. The company has a 50 day moving average of $52.46 and a two-hundred day moving average of $52.87. The company has a market cap of $3.79 billion, a P/E ratio of 7.14 and a beta of 1.02.

California Resources (NYSE:CRCGet Free Report) last released its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.08). California Resources had a return on equity of 17.57% and a net margin of 20.14%. The business had revenue of $726.00 million for the quarter, compared to analysts’ expectations of $553.47 million. During the same quarter in the prior year, the firm earned $1.24 earnings per share. California Resources’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts expect that California Resources Co. will post 4.57 earnings per share for the current year.

California Resources Dividend Announcement

The company also recently announced 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 was Tuesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.25%. California Resources’s payout ratio is currently 16.06%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Bank of America downgraded shares of California Resources from a “buy” rating to a “neutral” rating and lowered their target price for the company from $64.00 to $60.00 in a report on Friday, January 5th. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 target price on shares of California Resources in a report on Wednesday, March 6th. Stifel Nicolaus lowered their target price on shares of California Resources from $72.00 to $68.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Mizuho lowered their target price on shares of California Resources from $69.00 to $63.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

View Our Latest Stock Report on California Resources

California Resources Company Profile

(Free Report)

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.

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

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