Mackenzie Financial Corp Has $753,000 Holdings in California Resources Co. (NYSE:CRC)

Mackenzie Financial Corp cut its holdings in California Resources Co. (NYSE:CRC - Free Report) by 55.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 13,769 shares of the oil and gas producer's stock after selling 17,072 shares during the period. Mackenzie Financial Corp's holdings in California Resources were worth $753,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its holdings in shares of California Resources by 1.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 14,395 shares of the oil and gas producer's stock worth $787,000 after buying an additional 205 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of California Resources by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 44,054 shares of the oil and gas producer's stock worth $2,467,000 after buying an additional 242 shares during the last quarter. Assetmark Inc. increased its holdings in shares of California Resources by 16.3% during the 3rd quarter. Assetmark Inc. now owns 2,525 shares of the oil and gas producer's stock worth $141,000 after buying an additional 353 shares during the last quarter. Diversified Trust Co increased its holdings in shares of California Resources by 6.9% during the 4th quarter. Diversified Trust Co now owns 10,991 shares of the oil and gas producer's stock worth $601,000 after buying an additional 708 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of California Resources during the 3rd quarter worth $45,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

California Resources Stock Down 0.7 %

NYSE:CRC traded down $0.36 on Friday, reaching $54.90. The stock had a trading volume of 298,578 shares, compared to its average volume of 883,592. The company has a current ratio of 1.51, a quick ratio of 1.39 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $54.09 and a 200 day moving average of $52.74. The stock has a market cap of $3.77 billion, a P/E ratio of 7.16 and a beta of 1.02. California Resources Co. has a 12-month low of $37.21 and a 12-month high of $58.44.

California Resources (NYSE:CRC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.93 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.08). California Resources had a net margin of 20.14% and a return on equity of 17.57%. The firm had revenue of $726.00 million during the quarter, compared to analysts' expectations of $553.47 million. During the same period in the previous year, the company earned $1.24 earnings per share. The business's quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts predict that California Resources Co. will post 4.64 earnings per share for the current year.

California Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.26%. California Resources's payout ratio is 16.06%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Bank of America cut shares of California Resources from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $64.00 to $60.00 in a research report on Friday, January 5th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $70.00 price target on shares of California Resources in a research report on Wednesday, March 6th. Stifel Nicolaus upped their price target on shares of California Resources from $68.00 to $69.00 and gave the stock a "buy" rating in a research report on Tuesday. Barclays assumed coverage on shares of California Resources in a research report on Wednesday, April 10th. They set an "equal weight" rating and a $62.00 price target for the company. Finally, Mizuho decreased their price target on shares of California Resources from $69.00 to $63.00 and set a "buy" rating for the company in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $63.57.

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.