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California Resources Corporation (NYSE:CRC) Position Lowered by Universal Beteiligungs und Servicegesellschaft mbH

California Resources logo with Energy background

Key Points

  • Universal Beteiligungs und Servicegesellschaft mbH reduced its holdings in California Resources Corporation by 30.3%, selling 8,626 shares during the 1st quarter, leaving them with 19,800 shares valued at $871,000.
  • Analysts remain optimistic with a consensus Buy rating for California Resources and a price target averaging $62.27, with upgrades from firms such as Truist Financial and Barclays.
  • California Resources announced a quarterly dividend of $0.3875, reflecting an annualized yield of 3.3% and a payout ratio of 28.13%.
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Universal Beteiligungs und Servicegesellschaft mbH decreased its stake in shares of California Resources Corporation (NYSE:CRC - Free Report) by 30.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,800 shares of the oil and gas producer's stock after selling 8,626 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH's holdings in California Resources were worth $871,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased 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 worth $28,000 after acquiring an additional 466 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake 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 acquiring an additional 316 shares during the last quarter. Lazard Asset Management LLC increased its stake in California Resources by 52,366.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,574 shares of the oil and gas producer's stock worth $81,000 after acquiring an additional 1,571 shares during the last quarter. Sterling Capital Management LLC increased its stake in California Resources by 833.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,221 shares of the oil and gas producer's stock worth $115,000 after acquiring an additional 1,983 shares during the last quarter. Finally, State of Wyoming acquired a new stake in California Resources during the fourth quarter worth $131,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CRC. Truist Financial upgraded California Resources to a "strong-buy" rating in a report on Tuesday, May 6th. Citigroup lifted 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 reduced 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. Barclays raised California Resources from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $50.00 to $60.00 in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. raised California Resources from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $60.00 to $63.00 in a research note on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $62.27.

Get Our Latest Analysis on CRC

California Resources Trading Up 2.5%

Shares of California Resources stock traded up $1.17 during trading hours on Wednesday, reaching $48.97. 874,174 shares of the company's stock were exchanged, compared to its average volume of 956,779. California Resources Corporation has a 52-week low of $30.97 and a 52-week high of $60.41. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 8.89 and a beta of 1.16. The company has a fifty day moving average of $46.82 and a 200-day moving average of $44.04. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 0.25.

California Resources (NYSE:CRC - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.19. The business had revenue of $978.00 million during the quarter, compared to the consensus estimate of $820.93 million. California Resources had a return on equity of 11.45% and a net margin of 13.70%. The business's revenue for the quarter was up 90.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. Sell-side analysts forecast that California Resources Corporation will post 3.85 EPS for the current fiscal year.

California Resources Profile

(Free Report)

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.

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Institutional Ownership by Quarter for California Resources (NYSE:CRC)

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