UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $15.18 Million Stock Holdings in California Resources Co. (NYSE:CRC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of California Resources Co. (NYSE:CRC - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 292,583 shares of the oil and gas producer's stock after selling 34,957 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.32% of California Resources worth $15,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of California Resources by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 9,345,789 shares of the oil and gas producer's stock worth $484,953,000 after buying an additional 225,620 shares during the period. First Trust Advisors LP grew its holdings in California Resources by 14.2% during the fourth quarter. First Trust Advisors LP now owns 6,818,266 shares of the oil and gas producer's stock valued at $353,800,000 after purchasing an additional 845,694 shares during the period. American Century Companies Inc. grew its holdings in California Resources by 14.2% during the fourth quarter. American Century Companies Inc. now owns 2,327,712 shares of the oil and gas producer's stock valued at $120,785,000 after purchasing an additional 290,263 shares during the period. Geode Capital Management LLC increased its stake in California Resources by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,605,779 shares of the oil and gas producer's stock valued at $83,344,000 after purchasing an additional 13,116 shares in the last quarter. Finally, Sourcerock Group LLC raised its holdings in California Resources by 6.5% in the fourth quarter. Sourcerock Group LLC now owns 1,084,947 shares of the oil and gas producer's stock worth $56,298,000 after purchasing an additional 65,981 shares during the period. 97.79% of the stock is owned by institutional investors.

California Resources Stock Up 1.6%

California Resources stock traded up $0.73 during mid-day trading on Tuesday, reaching $45.72. The company's stock had a trading volume of 1,384,018 shares, compared to its average volume of 879,317. 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 Co. has a 12 month low of $30.97 and a 12 month high of $60.41. The business's 50 day simple moving average is $38.88 and its 200 day simple moving average is $46.31. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 7.20, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06.

California Resources (NYSE:CRC - Get Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $862.14 million. During the same quarter in the previous year, the business earned $0.75 earnings per share. California Resources's quarterly revenue was up 100.9% on a year-over-year basis. As a group, research analysts anticipate that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Friday, May 30th. California Resources's dividend payout ratio (DPR) is 28.13%.

Analysts Set New Price Targets

A number of analysts recently commented on CRC shares. UBS Group upped their price objective on shares of California Resources from $49.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Royal Bank of Canada lowered their price target on California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Roth Capital reiterated a "buy" rating on shares of California Resources in a report on Wednesday, May 7th. Mizuho decreased their price objective on California Resources from $64.00 to $60.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Bank of America lowered their target price on California Resources from $64.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.27.

Insider Transactions at California Resources

In other news, Director James N. Chapman bought 2,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $39.42 per share, with a total value of $78,840.00. Following the acquisition, the director now owns 43,445 shares in the company, valued at $1,712,601.90. This trade represents a 4.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.