State Street Corp Boosts Position in California Resources Co. (NYSE:CRC)

State Street Corp boosted its holdings in shares of California Resources Co. (NYSE:CRC - Free Report) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,449,988 shares of the oil and gas producer's stock after buying an additional 168,278 shares during the quarter. State Street Corp owned approximately 5.08% of California Resources worth $181,021,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CRC. GAMMA Investing LLC lifted its holdings in shares of California Resources by 61.5% in the third quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer's stock worth $51,000 after buying an additional 371 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of California Resources in the third quarter worth $70,000. KBC Group NV lifted its holdings in shares of California Resources by 29.1% in the third quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer's stock worth $100,000 after buying an additional 431 shares in the last quarter. Farther Finance Advisors LLC raised its stake in California Resources by 9.4% during the third quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer's stock valued at $169,000 after purchasing an additional 276 shares in the last quarter. Finally, Atria Investments Inc purchased a new stake in California Resources during the third quarter valued at $209,000. 97.79% of the stock is currently owned by institutional investors.

Insider Activity at California Resources

In other California Resources news, VP Noelle M. Repetti sold 8,770 shares of California Resources stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total transaction of $488,927.50. Following the sale, the vice president now owns 8,531 shares of the company's stock, valued at $475,603.25. The trade was a 50.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by corporate insiders.

California Resources Stock Performance

Shares of NYSE CRC traded down $0.25 during midday trading on Friday, reaching $54.99. 152,346 shares of the stock were exchanged, compared to its average volume of 826,702. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 1.35 and a beta of 1.01. California Resources Co. has a twelve month low of $43.09 and a twelve month high of $60.41. The firm has a 50-day simple moving average of $55.09 and a two-hundred day simple moving average of $51.87. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32.

California Resources (NYSE:CRC - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.62. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $973.13 million. During the same quarter last year, the company earned $1.02 EPS. The business's revenue was up 194.1% on a year-over-year basis. As a group, analysts anticipate that California Resources Co. will post 3.58 EPS for the current fiscal year.

California Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.3875 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.55 dividend on an annualized basis and a yield of 2.82%. California Resources's dividend payout ratio is currently 24.41%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Stephens assumed coverage on shares of California Resources in a research note on Tuesday, October 22nd. They set an "overweight" rating and a $73.00 price target on the stock. UBS Group assumed coverage on shares of California Resources in a research note on Wednesday, October 16th. They set a "buy" rating and a $68.00 price target on the stock. TD Cowen upped their price target on shares of California Resources from $65.00 to $74.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. StockNews.com raised shares of California Resources from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Finally, Barclays increased their target price on shares of California Resources from $55.00 to $57.00 and gave the company an "equal weight" rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.40.

About California Resources

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.