Fox Run Management L.L.C. Acquires Shares of 20,736 California Resources Corporation $CRC

Fox Run Management L.L.C. acquired a new position in shares of California Resources Corporation (NYSE:CRC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,736 shares of the oil and gas producer’s stock, valued at approximately $947,000.

A number of other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of California Resources by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 384,200 shares of the oil and gas producer’s stock valued at $16,893,000 after purchasing an additional 8,047 shares during the period. Crossmark Global Holdings Inc. grew its position in California Resources by 17.4% in the first quarter. Crossmark Global Holdings Inc. now owns 4,823 shares of the oil and gas producer’s stock valued at $212,000 after purchasing an additional 716 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of California Resources by 27.6% in the 1st quarter. Voya Investment Management LLC now owns 52,384 shares of the oil and gas producer’s stock valued at $2,303,000 after acquiring an additional 11,336 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in California Resources in the second quarter valued at approximately $1,267,000. Finally, Xponance Inc. increased its holdings in California Resources by 7.6% during the first quarter. Xponance Inc. now owns 5,304 shares of the oil and gas producer’s stock worth $233,000 after buying an additional 375 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

California Resources Stock Performance

Shares of CRC opened at $46.12 on Friday. The firm’s fifty day simple moving average is $50.79 and its two-hundred day simple moving average is $47.15. California Resources Corporation has a 12 month low of $30.97 and a 12 month high of $60.08. The stock has a market capitalization of $3.86 billion, a P/E ratio of 10.73 and a beta of 1.15. 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 issued its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. The business had revenue of $855.00 million during the quarter, compared to the consensus estimate of $888.58 million. California Resources had a return on equity of 11.59% and a net margin of 10.60%.The firm’s revenue for the quarter was down 36.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 earnings per share. As a group, analysts predict that California Resources Corporation will post 3.85 EPS for the current year.

California Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.405 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.62 annualized dividend and a dividend yield of 3.5%. This is a boost from California Resources’s previous quarterly dividend of $0.39. California Resources’s dividend payout ratio (DPR) is 36.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CRC. UBS Group boosted their price target on California Resources from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Zacks Research lowered shares of California Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Citigroup lifted their price objective on California Resources from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Roth Capital set a $63.00 target price on shares of California Resources in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. upped their price objective on California Resources from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, California Resources has a consensus rating of “Moderate Buy” and an average price target of $66.45.

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.