GSA Capital Partners LLP Grows Holdings in California Resources Corporation (NYSE:CRC)

GSA Capital Partners LLP raised its holdings in California Resources Corporation (NYSE:CRC - Free Report) by 35.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,135 shares of the oil and gas producer's stock after purchasing an additional 10,225 shares during the quarter. GSA Capital Partners LLP's holdings in California Resources were worth $1,721,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Summit Investment Advisors Inc. increased its stake in shares of California Resources by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,217 shares of the oil and gas producer's stock worth $374,000 after acquiring an additional 228 shares during the period. SummerHaven Investment Management LLC increased its stake in shares of California Resources by 1.9% during the first quarter. SummerHaven Investment Management LLC now owns 15,335 shares of the oil and gas producer's stock worth $674,000 after acquiring an additional 293 shares during the period. New York State Teachers Retirement System boosted its holdings in California Resources by 1.4% during the first quarter. New York State Teachers Retirement System now owns 22,000 shares of the oil and gas producer's stock worth $967,000 after buying an additional 300 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in California Resources by 68.8% during the first quarter. Harbor Capital Advisors Inc. now owns 775 shares of the oil and gas producer's stock worth $34,000 after buying an additional 316 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in California Resources by 5.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,929 shares of the oil and gas producer's stock valued at $360,000 after buying an additional 372 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

California Resources Trading Down 2.8%

NYSE CRC traded down $1.35 during mid-day trading on Friday, reaching $46.83. 778,834 shares of the stock were exchanged, compared to its average volume of 878,803. California Resources Corporation has a 1-year low of $30.97 and a 1-year high of $60.41. The business's fifty day simple moving average is $46.62 and its 200 day simple moving average is $44.20. The stock has a market capitalization of $4.18 billion, a PE ratio of 8.50 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.

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

California Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, May 30th. California Resources's dividend payout ratio (DPR) is currently 28.13%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CRC shares. UBS Group increased their target price on shares of California Resources from $51.00 to $58.00 and gave the company a "buy" rating in a report on Monday, July 14th. Mizuho increased their target price on shares of California Resources from $60.00 to $61.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Barclays raised shares of California Resources from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $50.00 to $60.00 in a report on Friday, May 30th. Roth Capital reaffirmed a "buy" rating on shares of California Resources in a report on Saturday, July 19th. Finally, Wall Street Zen cut shares of California Resources from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus 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.