7,600 Shares in California Resources Corporation (NYSE:CRC) Bought by South Dakota Investment Council

South Dakota Investment Council bought a new position in California Resources Corporation (NYSE:CRC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,600 shares of the oil and gas producer's stock, valued at approximately $334,000.

Several other institutional investors have also modified their holdings of the business. Jennison Associates LLC lifted its stake in shares of California Resources by 13.0% in the first quarter. Jennison Associates LLC now owns 242,343 shares of the oil and gas producer's stock worth $10,656,000 after acquiring an additional 27,907 shares in the last quarter. Victory Capital Management Inc. raised its stake in California Resources by 4.4% during the first quarter. Victory Capital Management Inc. now owns 1,063,905 shares of the oil and gas producer's stock valued at $46,780,000 after buying an additional 44,938 shares in the last quarter. Larson Financial Group LLC raised its stake in California Resources by 269.4% during the first quarter. Larson Financial Group LLC now owns 639 shares of the oil and gas producer's stock valued at $28,000 after buying an additional 466 shares in the last quarter. Edgestream Partners L.P. raised its stake in California Resources by 30.2% during the first quarter. Edgestream Partners L.P. now owns 197,780 shares of the oil and gas producer's stock valued at $8,696,000 after buying an additional 45,841 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in California Resources during the first quarter valued at approximately $304,000. Institutional investors and hedge funds own 97.79% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup upped their target price on California Resources from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Bank of America lowered their target price on California Resources from $64.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Wall Street Zen lowered California Resources from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. JPMorgan Chase & Co. raised California Resources from a "neutral" rating to an "overweight" rating and upped their target price for the company from $60.00 to $63.00 in a report on Tuesday, July 15th. Finally, Roth Capital reaffirmed a "buy" rating on shares of California Resources in a report on Saturday, July 19th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, California Resources presently has a consensus rating of "Buy" and an average target price of $62.27.

California Resources Price Performance

NYSE CRC traded down $0.01 on Thursday, reaching $49.33. 368,502 shares of the stock traded hands, compared to its average volume of 957,006. The firm's fifty day simple moving average is $45.71 and its 200 day simple moving average is $44.38. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 0.25. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 8.95 and a beta of 1.16. California Resources Corporation has a 12 month low of $30.97 and a 12 month high of $60.41.

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, topping the consensus estimate of $0.83 by $0.24. The business had revenue of $912.00 million during 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 company's revenue was up 100.9% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS. As a group, research analysts predict that California Resources Corporation will post 3.85 EPS for the current fiscal year.

California Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, May 30th. California Resources's dividend payout ratio is presently 28.13%.

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.