Yousif Capital Management LLC Has $1.82 Million Holdings in California Resources Co. (NYSE:CRC)

Yousif Capital Management LLC raised its position in California Resources Co. (NYSE:CRC) by 3.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 33,284 shares of the oil and gas producer’s stock after acquiring an additional 1,151 shares during the period. Yousif Capital Management LLC’s holdings in California Resources were worth $1,820,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CRC. LSV Asset Management grew its stake in California Resources by 102.0% in the third quarter. LSV Asset Management now owns 2,943,220 shares of the oil and gas producer’s stock valued at $164,850,000 after acquiring an additional 1,485,970 shares during the period. Pacer Advisors Inc. grew its stake in California Resources by 71.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,965,476 shares of the oil and gas producer’s stock valued at $107,472,000 after acquiring an additional 821,827 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its stake in California Resources by 114.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 528,254 shares of the oil and gas producer’s stock valued at $29,588,000 after acquiring an additional 282,407 shares during the period. DAVENPORT & Co LLC grew its stake in California Resources by 179.8% in the fourth quarter. DAVENPORT & Co LLC now owns 420,946 shares of the oil and gas producer’s stock valued at $23,127,000 after acquiring an additional 270,508 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of California Resources by 13.2% during the third quarter. American Century Companies Inc. now owns 925,185 shares of the oil and gas producer’s stock valued at $51,820,000 after buying an additional 108,123 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

California Resources Stock Performance

Shares of CRC opened at $51.08 on Thursday. The firm has a market cap of $3.51 billion, a PE ratio of 6.62 and a beta of 1.02. The stock’s fifty day moving average price is $54.14 and its two-hundred day moving average price is $52.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.51 and a quick ratio of 1.39. California Resources Co. has a 1 year low of $37.21 and a 1 year high of $58.44.

California Resources (NYSE:CRC) last issued its earnings results 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). The firm had revenue of $726.00 million during the quarter, compared to the consensus estimate of $553.47 million. California Resources had a net margin of 20.14% and a return on equity of 17.57%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.24 earnings per share. On average, equities research analysts forecast that California Resources Co. will post 4.64 EPS for the current year.

California Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Wednesday, March 6th were paid a $0.31 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.43%. California Resources’s payout ratio is presently 16.06%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CRC shares. Mizuho cut their target price on California Resources from $69.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Bank of America cut California Resources from a “buy” rating to a “neutral” rating and cut their target price for the company from $64.00 to $60.00 in a research report on Friday, January 5th. Stifel Nicolaus lifted their target price on California Resources from $68.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Barclays assumed coverage on California Resources in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $62.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price target on shares of California Resources in a report on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, California Resources has a consensus rating of “Moderate Buy” and an average target price 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.