California Resources Co. (NYSE:CRC) Shares Bought by Deutsche Bank AG

Deutsche Bank AG lifted its stake in shares of California Resources Co. (NYSE:CRC - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 240,328 shares of the oil and gas producer's stock after acquiring an additional 16,551 shares during the period. Deutsche Bank AG owned 0.26% of California Resources worth $12,471,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Entropy Technologies LP purchased a new stake in shares of California Resources in the fourth quarter valued at $841,000. Bank of New York Mellon Corp grew its holdings in California Resources by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 739,057 shares of the oil and gas producer's stock valued at $38,350,000 after buying an additional 14,240 shares during the period. Thrivent Financial for Lutherans grew its holdings in California Resources by 1.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 55,289 shares of the oil and gas producer's stock valued at $2,869,000 after buying an additional 649 shares during the period. Empowered Funds LLC increased its stake in shares of California Resources by 84.3% during the 4th quarter. Empowered Funds LLC now owns 48,929 shares of the oil and gas producer's stock valued at $2,539,000 after acquiring an additional 22,383 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of California Resources by 518.4% during the 4th quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer's stock worth $88,000 after acquiring an additional 1,410 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.

Wall Street Analysts Forecast Growth

CRC has been the subject of several research analyst reports. Roth Capital reaffirmed a "buy" rating on shares of California Resources in a research report on Wednesday, May 7th. Barclays boosted their price objective on shares of California Resources from $47.00 to $50.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Royal Bank of Canada cut their target price on California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. UBS Group boosted their price target on California Resources from $49.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, StockNews.com upgraded California Resources from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, California Resources has an average rating of "Moderate Buy" and a consensus price target of $60.36.

California Resources Stock Up 1.4%

Shares of CRC stock traded up $0.59 on Monday, hitting $43.19. The stock had a trading volume of 1,168,430 shares, compared to its average volume of 867,577. The stock's 50 day moving average is $39.01 and its 200-day moving average is $47.34. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 6.80, a P/E/G ratio of 1.02 and a beta of 1.06. California Resources Co. has a 52-week low of $30.97 and a 52-week high of $60.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97.

California Resources (NYSE:CRC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.24. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm had revenue of $912.00 million for the quarter, compared to analyst estimates of $862.14 million. During the same quarter in the previous year, the business posted $0.75 EPS. The firm's revenue was up 100.9% compared to the same quarter last year. As a group, research analysts expect that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.3875 per share. The ex-dividend date is Friday, May 30th. This represents a $1.55 annualized dividend and a yield of 3.59%. California Resources's dividend payout ratio is presently 28.13%.

Insiders Place Their Bets

In related news, Director James N. Chapman purchased 2,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $39.42 per share, with a total value of $78,840.00. Following the completion of the transaction, the director now owns 43,445 shares of the company's stock, valued at $1,712,601.90. This represents a 4.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is owned by company insiders.

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.