New York State Teachers Retirement System Sells 4,876 Shares of California Resources Co. (NYSE:CRC)

New York State Teachers Retirement System reduced its stake in California Resources Co. (NYSE:CRC) by 18.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,100 shares of the oil and gas producer’s stock after selling 4,876 shares during the period. New York State Teachers Retirement System’s holdings in California Resources were worth $1,154,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CRC. JPMorgan Chase & Co. boosted its holdings in shares of California Resources by 47.1% in the first quarter. JPMorgan Chase & Co. now owns 160,038 shares of the oil and gas producer’s stock worth $7,159,000 after acquiring an additional 51,208 shares during the period. American Century Companies Inc. bought a new position in shares of California Resources in the first quarter worth $452,000. Citigroup Inc. boosted its holdings in shares of California Resources by 13.2% in the first quarter. Citigroup Inc. now owns 64,788 shares of the oil and gas producer’s stock worth $2,898,000 after acquiring an additional 7,572 shares during the period. Acadian Asset Management LLC bought a new position in shares of California Resources in the first quarter worth $305,000. Finally, MetLife Investment Management LLC raised its position in shares of California Resources by 53.7% in the first quarter. MetLife Investment Management LLC now owns 44,629 shares of the oil and gas producer’s stock worth $1,996,000 after buying an additional 15,587 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays assumed coverage on California Resources in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $62.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of California Resources in a research report on Wednesday, March 6th. Bank of America downgraded California Resources from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $64.00 to $60.00 in a research report on Friday, January 5th. Mizuho lowered their price objective on California Resources from $69.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Stifel Nicolaus lowered their price objective on California Resources from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, California Resources has a consensus rating of “Moderate Buy” and an average price target of $63.43.

California Resources Trading Down 2.4 %

NYSE CRC opened at $53.81 on Thursday. The stock’s 50-day simple moving average is $53.88 and its two-hundred day simple moving average is $52.68. California Resources Co. has a twelve month low of $37.21 and a twelve month high of $58.44. The company has a quick ratio of 1.39, a current ratio of 1.51 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 6.97 and a beta of 1.02.

California Resources (NYSE:CRC) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $553.47 million. During the same quarter in the previous year, the business earned $1.24 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts forecast that California Resources Co. will post 4.57 EPS for the current fiscal year.

California Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Wednesday, March 6th were issued a $0.31 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.30%. California Resources’s dividend payout ratio is currently 16.06%.

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.