SG Americas Securities LLC Buys Shares of 8,093 California Resources Corporation (NYSE:CRC)

SG Americas Securities LLC acquired a new position in California Resources Corporation (NYSE:CRC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,093 shares of the oil and gas producer's stock, valued at approximately $356,000.

Several other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its stake in California Resources by 68.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 775 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 316 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in California Resources by 331.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer's stock worth $53,000 after purchasing an additional 812 shares in the last quarter. Lazard Asset Management LLC lifted its stake in California Resources by 52,366.7% in the 4th 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 in the last quarter. Sterling Capital Management LLC lifted its stake in California Resources by 833.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,221 shares of the oil and gas producer's stock worth $115,000 after purchasing an additional 1,983 shares in the last quarter. Finally, State of Wyoming purchased a new position in California Resources in the 4th quarter worth approximately $131,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America decreased their target price on shares of California Resources from $64.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Citigroup raised their target price on shares of California Resources from $36.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. UBS Group raised their target price on shares of California Resources from $49.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Wall Street Zen lowered shares of California Resources from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Barclays raised shares of California Resources from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $50.00 to $60.00 in a research note on Friday, May 30th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.27.

California Resources Trading Down 0.1%

CRC traded down $0.06 during trading hours on Friday, reaching $45.62. The company's stock had a trading volume of 2,097,803 shares, compared to its average volume of 831,723. California Resources Corporation has a fifty-two week low of $30.97 and a fifty-two week high of $60.41. The stock has a market cap of $4.07 billion, a PE ratio of 8.28 and a beta of 1.17. The business's 50-day moving average is $42.00 and its 200-day moving average is $44.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.83 and a quick ratio of 0.74.

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 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.24. California Resources had a return on equity of 11.45% and a net margin of 13.70%. The firm had revenue of $912.00 million for the quarter, compared to analysts' expectations of $862.14 million. During the same period in the prior year, the firm posted $0.75 earnings per share. The firm's quarterly revenue was up 100.9% on a year-over-year basis. As a group, equities research analysts predict that California Resources Corporation will post 3.85 earnings per share for the current fiscal year.

California Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Friday, May 30th. California Resources's payout ratio is 28.13%.

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.