20,736 Shares in California Resources Corporation $CRC Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. acquired a new position in California Resources Corporation (NYSE:CRC) in the 2nd quarter, HoldingsChannel reports. The firm acquired 20,736 shares of the oil and gas producer’s stock, valued at approximately $947,000.

A number of other large investors also recently made changes to their positions in CRC. Savant Capital LLC bought a new position in shares of California Resources during the 2nd quarter worth approximately $740,000. South Dakota Investment Council lifted its position in shares of California Resources by 159.7% during the 2nd quarter. South Dakota Investment Council now owns 19,740 shares of the oil and gas producer’s stock valued at $902,000 after buying an additional 12,140 shares during the last quarter. iA Global Asset Management Inc. lifted its holdings in California Resources by 18.0% during the second quarter. iA Global Asset Management Inc. now owns 5,240 shares of the oil and gas producer’s stock valued at $239,000 after purchasing an additional 800 shares during the last quarter. Atria Investments Inc boosted its holdings in California Resources by 20.3% in the 2nd quarter. Atria Investments Inc now owns 6,075 shares of the oil and gas producer’s stock worth $277,000 after buying an additional 1,026 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of California Resources by 41.0% in the second quarter. Teacher Retirement System of Texas now owns 13,170 shares of the oil and gas producer’s stock worth $601,000 after acquiring an additional 3,831 shares during the period. 97.79% of the stock is owned by institutional investors.

California Resources Price Performance

CRC stock opened at $46.12 on Friday. The firm has a 50 day moving average price of $50.79 and a 200-day moving average price of $47.15. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 10.73 and a beta of 1.15. California Resources Corporation has a 52-week low of $30.97 and a 52-week high of $60.08. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.68 and a current ratio of 0.89.

California Resources (NYSE:CRC) last released its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. The firm had revenue of $855.00 million for the quarter, compared to analysts’ expectations of $888.58 million. California Resources had a return on equity of 11.59% and a net margin of 10.60%.The company’s quarterly revenue was down 36.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.50 earnings per share. Equities research analysts forecast that California Resources Corporation will post 3.85 EPS for the current fiscal year.

California Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.405 dividend. This is a boost from California Resources’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.62 annualized dividend and a yield of 3.5%. California Resources’s payout ratio is currently 36.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of California Resources from $64.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Mizuho set a $71.00 price objective on California Resources in a research report on Monday, September 15th. Roth Capital set a $63.00 target price on shares of California Resources in a report on Monday, September 15th. Jefferies Financial Group set a $71.00 price target on California Resources and gave the stock a “buy” rating in a research note on Sunday, September 21st. Finally, Zacks Research cut shares of California Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, California Resources has an average rating of “Moderate Buy” and a consensus price target of $66.45.

About California Resources

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.