Teacher Retirement System of Texas Has $601,000 Holdings in California Resources Corporation $CRC

Teacher Retirement System of Texas grew its position in shares of California Resources Corporation (NYSE:CRC) by 41.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,170 shares of the oil and gas producer’s stock after acquiring an additional 3,831 shares during the quarter. Teacher Retirement System of Texas’ holdings in California Resources were worth $601,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. increased its stake in California Resources by 10.7% during the 1st quarter. American Century Companies Inc. now owns 2,576,160 shares of the oil and gas producer’s stock valued at $113,274,000 after purchasing an additional 248,448 shares in the last quarter. Orbis Allan Gray Ltd grew its holdings in shares of California Resources by 3.0% during the first quarter. Orbis Allan Gray Ltd now owns 1,198,841 shares of the oil and gas producer’s stock valued at $52,713,000 after buying an additional 34,593 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of 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 during the last quarter. Private Management Group Inc. increased its position in shares of California Resources by 11.5% during the first quarter. Private Management Group Inc. now owns 888,903 shares of the oil and gas producer’s stock worth $39,085,000 after acquiring an additional 91,737 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its holdings in shares of California Resources by 1.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 800,601 shares of the oil and gas producer’s stock worth $36,563,000 after acquiring an additional 12,315 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Zacks Research cut shares of California Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Roth Capital set a $63.00 target price on California Resources in a research report on Monday, September 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of California Resources in a report on Wednesday, October 8th. Citigroup increased their price target on California Resources from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, Mizuho set a $71.00 price objective on shares of California Resources in a report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.45.

California Resources Stock Performance

Shares of California Resources stock opened at $46.12 on Friday. The business’s fifty day simple moving average is $50.79 and its 200 day simple moving average is $47.15. The firm has a market capitalization of $3.86 billion, a P/E ratio of 10.73 and a beta of 1.15. California Resources Corporation has a 12 month low of $30.97 and a 12 month high of $60.08. The company has a current ratio of 0.89, a quick ratio of 0.68 and a debt-to-equity ratio of 0.26.

California Resources (NYSE:CRC) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. California Resources had a return on equity of 11.59% and a net margin of 10.60%.The firm had revenue of $855.00 million during the quarter, compared to the consensus estimate of $888.58 million. During the same quarter in the prior year, the company earned $1.50 EPS. The business’s revenue for the quarter was down 36.8% on a year-over-year basis. As a group, analysts anticipate that California Resources Corporation will post 3.85 EPS for the current year.

California Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.405 per share. The ex-dividend date is Monday, December 1st. This is an increase from California Resources’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a yield of 3.5%. California Resources’s dividend payout ratio (DPR) is currently 36.05%.

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.