Edgestream Partners L.P. Acquires 45,841 Shares of California Resources Corporation (NYSE:CRC)

Edgestream Partners L.P. raised its holdings in California Resources Corporation (NYSE:CRC - Free Report) by 30.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 197,780 shares of the oil and gas producer's stock after acquiring an additional 45,841 shares during the period. Edgestream Partners L.P. owned about 0.22% of California Resources worth $8,696,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRC. Atria Investments Inc grew its stake in California Resources by 17.1% in the fourth quarter. Atria Investments Inc now owns 4,674 shares of the oil and gas producer's stock valued at $243,000 after acquiring an additional 683 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of California Resources by 37.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,930 shares of the oil and gas producer's stock worth $878,000 after buying an additional 4,613 shares during the period. Swiss National Bank boosted its position in shares of California Resources by 1.1% during the fourth quarter. Swiss National Bank now owns 123,300 shares of the oil and gas producer's stock worth $6,398,000 after buying an additional 1,400 shares during the period. Natixis Advisors LLC boosted its position in shares of California Resources by 10.2% during the fourth quarter. Natixis Advisors LLC now owns 12,164 shares of the oil and gas producer's stock worth $631,000 after buying an additional 1,122 shares during the period. Finally, Clayton Partners LLC boosted its position in shares of California Resources by 13.0% during the fourth quarter. Clayton Partners LLC now owns 138,657 shares of the oil and gas producer's stock worth $7,195,000 after buying an additional 15,900 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

California Resources Stock Up 3.1%

CRC traded up $1.46 on Thursday, hitting $48.07. 828,335 shares of the company were exchanged, compared to its average volume of 839,976. California Resources Corporation has a 12 month low of $30.97 and a 12 month high of $60.41. The company has a market cap of $4.29 billion, a PE ratio of 8.72 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.74 and a current ratio of 0.83. The stock's fifty day moving average is $45.15 and its 200-day moving average is $44.45.

California Resources (NYSE:CRC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.24. The firm had revenue of $912.00 million for the quarter, compared to analyst estimates of $862.14 million. California Resources had a return on equity of 11.45% and a net margin of 13.70%. The business's revenue for the quarter was up 100.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. Equities research analysts predict that California Resources Corporation will post 3.85 EPS for the current fiscal year.

California Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.3875 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.55 annualized dividend and a yield of 3.22%. California Resources's dividend payout ratio is 28.13%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank Of Canada reduced their price objective on California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Roth Capital reaffirmed a "buy" rating on shares of California Resources in a research report on Wednesday, May 7th. Citigroup upped their price objective on California Resources from $44.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday. Mizuho upped their price objective on California Resources from $60.00 to $61.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, UBS Group set a $58.00 price objective on California Resources and gave the stock a "buy" rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $62.27.

California Resources Company 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.