Dimensional Fund Advisors LP Has $287.73 Million Stock Holdings in California Resources Corporation $CRC

Dimensional Fund Advisors LP trimmed its position in shares of California Resources Corporation (NYSE:CRC) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,156,848 shares of the oil and gas producer’s stock after selling 24,958 shares during the period. Dimensional Fund Advisors LP’s holdings in California Resources were worth $287,734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CRC. AQR Capital Management LLC increased its position in California Resources by 89.1% in the 1st quarter. AQR Capital Management LLC now owns 46,532 shares of the oil and gas producer’s stock worth $2,046,000 after purchasing an additional 21,923 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of California Resources by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,663 shares of the oil and gas producer’s stock valued at $1,832,000 after buying an additional 2,394 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of California Resources by 38.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 657,628 shares of the oil and gas producer’s stock valued at $28,916,000 after buying an additional 181,833 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of California Resources by 3.8% during the 1st quarter. Empowered Funds LLC now owns 50,786 shares of the oil and gas producer’s stock valued at $2,233,000 after buying an additional 1,857 shares during the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of California Resources by 17.7% in the 1st quarter. Intech Investment Management LLC now owns 31,870 shares of the oil and gas producer’s stock valued at $1,401,000 after buying an additional 4,783 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Activity at California Resources

In other news, EVP Jay A. Bys sold 11,907 shares of California Resources stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $54.00, for a total value of $642,978.00. Following the transaction, the executive vice president owned 159,424 shares of the company’s stock, valued at $8,608,896. This trade represents a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.53% of the stock is currently owned by corporate insiders.

California Resources Stock Performance

CRC opened at $53.83 on Thursday. The company has a market cap of $4.78 billion, a PE ratio of -10.35 and a beta of 0.92. The stock has a 50-day moving average of $56.44 and a 200-day moving average of $58.17. California Resources Corporation has a 52-week low of $43.24 and a 52-week high of $71.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.47 and a current ratio of 0.55.

California Resources (NYSE:CRC) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $0.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.88. California Resources had a positive return on equity of 10.12% and a negative net margin of 16.10%.The business had revenue of $119.00 million for the quarter, compared to the consensus estimate of $947.50 million. During the same period last year, the business earned $1.07 EPS. The firm’s revenue was down 87.0% compared to the same quarter last year. As a group, equities research analysts forecast that California Resources Corporation will post 4.02 earnings per share for the current fiscal year.

California Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, May 29th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, May 29th. California Resources’s dividend payout ratio (DPR) is -31.15%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRC. Barclays increased their price objective on California Resources from $72.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Zacks Research cut shares of California Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Stephens set a $85.00 target price on shares of California Resources and gave the stock an “overweight” rating in a research report on Friday, July 17th. Wall Street Zen lowered shares of California Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Mizuho raised their price target on shares of California Resources from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, California Resources has a consensus rating of “Moderate Buy” and a consensus target price of $73.09.

About California Resources

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.