Charles Schwab Investment Management Inc. Grows Stock Holdings in California Resources Co. (NYSE:CRC)

Charles Schwab Investment Management Inc. lifted its stake in shares of California Resources Co. (NYSE:CRC - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,031,816 shares of the oil and gas producer's stock after acquiring an additional 57,614 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.13% of California Resources worth $53,541,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in shares of California Resources by 331.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer's stock worth $53,000 after purchasing an additional 812 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in California Resources by 3.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 10,835 shares of the oil and gas producer's stock valued at $562,000 after acquiring an additional 371 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of California Resources by 2.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,833 shares of the oil and gas producer's stock valued at $873,000 after acquiring an additional 416 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of California Resources by 6.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 38,558 shares of the oil and gas producer's stock worth $2,001,000 after acquiring an additional 2,504 shares during the period. Finally, Amalgamated Bank boosted its stake in shares of California Resources by 2.3% in the fourth quarter. Amalgamated Bank now owns 20,867 shares of the oil and gas producer's stock worth $1,083,000 after acquiring an additional 461 shares during the period. Institutional investors own 97.79% of the company's stock.

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California Resources Trading Down 1.3 %

Shares of NYSE:CRC traded down $0.57 during trading on Monday, hitting $43.03. The company had a trading volume of 1,928,144 shares, compared to its average volume of 752,573. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 6.78, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. The company has a fifty day simple moving average of $48.26 and a two-hundred day simple moving average of $51.59. California Resources Co. has a one year low of $38.02 and a one year high of $60.41.

California Resources (NYSE:CRC - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The oil and gas producer reported $0.91 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.05). California Resources had a return on equity of 12.16% and a net margin of 17.43%. The firm had revenue of $877.00 million for the quarter, compared to analysts' expectations of $901.36 million. As a group, equities analysts forecast that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a dividend of $0.3875 per share. The ex-dividend date is Monday, March 10th. This represents a $1.55 annualized dividend and a dividend yield of 3.60%. California Resources's dividend payout ratio (DPR) is presently 37.71%.

Analyst Ratings Changes

A number of research analysts recently commented on CRC shares. Capital One Financial raised California Resources to a "strong-buy" rating in a report on Monday, December 9th. Barclays dropped their target price on shares of California Resources from $57.00 to $55.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. began coverage on shares of California Resources in a report on Friday, December 20th. They issued a "neutral" rating and a $63.00 price target on the stock. TD Cowen increased their price objective on shares of California Resources from $65.00 to $74.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $70.00 target price on shares of California Resources in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $67.08.

Insider Transactions at California Resources

In other California Resources news, Director James N. Chapman bought 2,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the acquisition, the director now directly owns 43,445 shares in the company, valued at approximately $1,712,601.90. The trade was a 4.83 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company's stock.

California Resources 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.