Universal Beteiligungs und Servicegesellschaft mbH Acquires New Stake in California Resources Co. (NYSE:CRC)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of California Resources Co. (NYSE:CRC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 28,426 shares of the oil and gas producer's stock, valued at approximately $1,475,000.

A number of other large investors have also recently made changes to their positions in CRC. Yousif Capital Management LLC raised its holdings in California Resources by 0.7% in the fourth quarter. Yousif Capital Management LLC now owns 26,924 shares of the oil and gas producer's stock worth $1,397,000 after purchasing an additional 196 shares in the last quarter. Arizona State Retirement System boosted its position in California Resources by 1.2% in the fourth quarter. Arizona State Retirement System now owns 18,199 shares of the oil and gas producer's stock valued at $944,000 after buying an additional 222 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in California Resources by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,217 shares of the oil and gas producer's stock valued at $374,000 after buying an additional 228 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in California Resources by 3.5% in 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 buying an additional 371 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in California Resources by 5.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,929 shares of the oil and gas producer's stock worth $360,000 after purchasing an additional 372 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

California Resources Stock Performance

Shares of California Resources stock traded up $0.68 during trading hours on Friday, hitting $44.67. 691,074 shares of the company were exchanged, compared to its average volume of 873,539. California Resources Co. has a 1 year low of $30.97 and a 1 year high of $60.41. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $38.88 and a 200-day moving average of $46.11. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 7.03, a P/E/G ratio of 1.02 and a beta of 1.17.

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

California Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, May 30th. California Resources's dividend payout ratio is presently 28.13%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group increased their target price on California Resources from $49.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Mizuho reduced their price target on California Resources from $64.00 to $60.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Royal Bank of Canada reduced their price target on California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Roth Capital restated a "buy" rating on shares of California Resources in a report on Wednesday, May 7th. Finally, Wall Street Zen downgraded California Resources from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, California Resources currently has a consensus rating of "Moderate Buy" and an average price target of $61.27.

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.