Squarepoint Ops LLC reduced its stake in shares of California Resources Corp (NYSE:CRC) by 68.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,715 shares of the oil and gas producer’s stock after selling 31,931 shares during the quarter. Squarepoint Ops LLC’s holdings in California Resources were worth $251,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new stake in California Resources during the 4th quarter worth $48,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in California Resources by 29.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,117 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 711 shares during the last quarter. Paloma Partners Management Co purchased a new position in California Resources during the 3rd quarter worth $259,000. Hsbc Holdings PLC grew its position in California Resources by 32.8% during the 4th quarter. Hsbc Holdings PLC now owns 11,396 shares of the oil and gas producer’s stock worth $194,000 after purchasing an additional 2,815 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its holdings in shares of California Resources by 172,300.0% in the third quarter. Rehmann Capital Advisory Group now owns 12,068 shares of the oil and gas producer’s stock valued at $586,000 after acquiring an additional 12,061 shares in the last quarter. Hedge funds and other institutional investors own 74.74% of the company’s stock.
Several analysts have recently weighed in on CRC shares. Bank of America downgraded shares of California Resources to a “sell” rating and set a $10.00 target price on the stock. in a report on Thursday, December 20th. Zacks Investment Research downgraded shares of California Resources from a “buy” rating to a “hold” rating in a report on Tuesday, December 25th. ValuEngine downgraded shares of California Resources from a “hold” rating to a “sell” rating in a report on Sunday, February 10th. Mizuho started coverage on shares of California Resources in a report on Thursday, March 28th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Goldman Sachs Group downgraded shares of California Resources from a “neutral” rating to a “sell” rating and lifted their target price for the company from $19.00 to $20.00 in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. California Resources has a consensus rating of “Buy” and an average price target of $39.83.
CRC stock opened at $28.32 on Wednesday. The stock has a market cap of $1.34 billion, a P/E ratio of 22.30 and a beta of 4.76. California Resources Corp has a 52 week low of $13.48 and a 52 week high of $50.34.
California Resources (NYSE:CRC) last released its quarterly earnings data on Wednesday, February 27th. The oil and gas producer reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.50. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $658.79 million. California Resources had a net margin of 10.70% and a negative return on equity of 11.34%. The firm’s revenue was up 136.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. As a group, analysts forecast that California Resources Corp will post 0.35 EPS for the current year.
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About California Resources
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.
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