Usca Ria LLC cut its stake in California Resources Corp (NYSE:CRC) by 81.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,743 shares of the oil and gas producer’s stock after selling 20,472 shares during the period. Usca Ria LLC’s holdings in California Resources were worth $230,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of CRC. FMR LLC bought a new position in shares of California Resources in the second quarter worth about $27,988,000. Richard Bernstein Advisors LLC bought a new position in shares of California Resources in the second quarter worth about $7,872,000. Mobius Capital Management LLC bought a new position in shares of California Resources in the third quarter worth about $7,964,000. BlackRock Inc. grew its holdings in shares of California Resources by 5.5% in the second quarter. BlackRock Inc. now owns 3,033,329 shares of the oil and gas producer’s stock worth $137,835,000 after purchasing an additional 156,881 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new position in shares of California Resources in the third quarter worth about $6,239,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.
A number of research analysts have recently commented on the stock. ValuEngine cut shares of California Resources from a “buy” rating to a “hold” rating in a report on Tuesday. Societe Generale upgraded shares of California Resources from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Zacks Investment Research upgraded shares of California Resources from a “sell” rating to a “hold” rating and set a $52.00 price target on the stock in a report on Wednesday, October 3rd. Finally, Evercore ISI assumed coverage on shares of California Resources in a report on Friday, September 21st. They issued an “outperform” rating and a $55.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $39.75.
Shares of California Resources stock opened at $27.68 on Friday. California Resources Corp has a 1 year low of $13.26 and a 1 year high of $50.34. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -6.29 and a beta of 5.50.
California Resources (NYSE:CRC) last issued its earnings results on Thursday, November 1st. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.89. California Resources had a negative net margin of 6.39% and a negative return on equity of 3.20%. The company had revenue of $828.00 million for the quarter, compared to analysts’ expectations of $689.83 million. During the same period in the prior year, the business earned ($1.22) EPS. The firm’s quarterly revenue was up 86.1% on a year-over-year basis. On average, equities analysts anticipate that California Resources Corp will post 1.03 earnings per share for the current year.
California Resources Profile
California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. The company sells crude oil, natural gas, and natural gas liquids to marketers, California refineries, and other purchasers that have access to transportation and storage facilities.
Featured Article: How to Invest in an Index Fund
Want to see what other hedge funds are holding CRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for California Resources Corp (NYSE:CRC).
Receive News & Ratings for California Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Resources and related companies with MarketBeat.com's FREE daily email newsletter.