SG Americas Securities LLC Makes New Investment in California Resources Corporation (NYSE:CRC)

SG Americas Securities LLC purchased a new position in shares of California Resources Corporation (NYSE:CRC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,093 shares of the oil and gas producer's stock, valued at approximately $356,000.

A number of other large investors have also modified their holdings of CRC. Arizona State Retirement System increased its stake in shares of California Resources by 1.2% in the fourth quarter. Arizona State Retirement System now owns 18,199 shares of the oil and gas producer's stock valued at $944,000 after purchasing an additional 222 shares during the period. Summit Investment Advisors Inc. grew its holdings in California Resources by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,217 shares of the oil and gas producer's stock worth $374,000 after buying an additional 228 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings 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 buying an additional 316 shares in the last quarter. Mutual of America Capital Management LLC increased its position in California Resources by 3.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 10,835 shares of the oil and gas producer's stock valued at $562,000 after acquiring an additional 371 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its stake in California Resources by 5.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,929 shares of the oil and gas producer's stock valued at $360,000 after acquiring an additional 372 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company's stock.

Analyst Upgrades and Downgrades

CRC has been the subject of several recent analyst reports. Royal Bank Of Canada decreased their price target on California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Barclays raised shares of California Resources from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $50.00 to $60.00 in a research note on Friday, May 30th. Roth Capital restated a "buy" rating on shares of California Resources in a research report on Wednesday, May 7th. Truist Financial raised California Resources to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Mizuho dropped their price objective on California Resources from $64.00 to $60.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $61.27.

California Resources Trading Down 0.1%

Shares of NYSE:CRC traded down $0.06 during mid-day trading on Friday, hitting $45.62. The stock had a trading volume of 2,097,803 shares, compared to its average volume of 834,393. The company's 50 day moving average is $41.80 and its 200-day moving average is $45.01. The company has a market cap of $4.07 billion, a PE ratio of 8.28 and a beta of 1.17. California Resources Corporation has a 12-month low of $30.97 and a 12-month high of $60.41. 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 released its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.24. California Resources had a net margin of 13.70% and a return on equity of 11.45%. The firm had revenue of $912.00 million for the quarter, compared to analyst estimates of $862.14 million. During the same quarter in the prior year, the business earned $0.75 EPS. The company's revenue for the quarter was up 100.9% compared to the same quarter last year. On average, sell-side analysts predict that California Resources Corporation will post 3.85 EPS for the current year.

California Resources Announces Dividend

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