Public Employees Retirement System of Ohio Sells 21,698 Shares of California Resources Co. (NYSE:CRC)

Public Employees Retirement System of Ohio decreased its holdings in California Resources Co. (NYSE:CRC - Free Report) by 93.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,512 shares of the oil and gas producer's stock after selling 21,698 shares during the period. Public Employees Retirement System of Ohio's holdings in California Resources were worth $78,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of California Resources by 331.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer's stock valued at $53,000 after buying an additional 812 shares during the period. Lazard Asset Management LLC boosted its position in California Resources by 52,366.7% in the fourth quarter. Lazard Asset Management LLC now owns 1,574 shares of the oil and gas producer's stock worth $81,000 after purchasing an additional 1,571 shares during the last quarter. Blue Trust Inc. grew its stake 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 valued at $88,000 after purchasing an additional 1,410 shares during the period. Sterling Capital Management LLC grew its stake in shares of California Resources by 833.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,221 shares of the oil and gas producer's stock valued at $115,000 after purchasing an additional 1,983 shares during the period. Finally, KBC Group NV lifted its stake in shares of California Resources by 32.3% in the 4th quarter. KBC Group NV now owns 2,526 shares of the oil and gas producer's stock worth $131,000 after purchasing an additional 616 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

California Resources Price Performance

Shares of CRC stock traded up $0.59 on Tuesday, hitting $45.35. 828,732 shares of the stock traded hands, compared to its average volume of 871,741. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 7.14, a PEG ratio of 1.02 and a beta of 1.17. The firm has a 50 day simple moving average of $38.96 and a two-hundred day simple moving average of $45.83. California Resources Co. has a 52 week low of $30.97 and a 52 week high of $60.41.

California Resources (NYSE:CRC - Get Free Report) last announced its quarterly 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. 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 17.43% and a return on equity of 12.16%. California Resources's revenue for the quarter was up 100.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. As a group, equities research analysts predict that California Resources Co. will post 3.85 earnings per share for the current fiscal 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 issued a $0.3875 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.55 dividend on an annualized basis and a yield of 3.42%. California Resources's dividend payout ratio is currently 28.13%.

Analyst Upgrades and Downgrades

CRC has been the subject of several recent research reports. UBS Group boosted their target price 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. Roth Capital reiterated a "buy" rating on shares of California Resources in a research note on Wednesday, May 7th. Mizuho dropped their price target on shares of California Resources from $64.00 to $60.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Barclays upgraded shares of California Resources from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $50.00 to $60.00 in a research note on Friday, May 30th. Finally, Royal Bank of Canada dropped their price target on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company 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.