Henderson Group PLC reduced its position in shares of California Resources Corp (NYSE:CRC) by 9.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 698,220 shares of the oil and gas producer’s stock after selling 70,742 shares during the period. Henderson Group PLC owned approximately 1.64% of California Resources Corp worth $10,501,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Soroban Capital Partners LP acquired a new stake in California Resources Corp during the third quarter worth about $25,625,000. Encompass Capital Advisors LLC acquired a new stake in California Resources Corp during the third quarter worth about $25,000,000. Soros Fund Management LLC boosted its stake in California Resources Corp by 60.8% in the fourth quarter. Soros Fund Management LLC now owns 2,000,000 shares of the oil and gas producer’s stock worth $42,580,000 after buying an additional 756,400 shares during the last quarter. Tide Point Capital Management LP acquired a new stake in shares of California Resources Corp during the fourth quarter valued at about $28,755,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of California Resources Corp during the third quarter valued at about $14,777,000. 82.30% of the stock is owned by institutional investors.
California Resources Corp (NYSE:CRC) traded up 5.06% on Friday, reaching $12.67. The company’s stock had a trading volume of 1,524,907 shares. The firm has a market cap of $539.64 million, a price-to-earnings ratio of 1.40 and a beta of 6.79. The firm has a 50 day moving average of $13.04 and a 200 day moving average of $16.34. California Resources Corp has a 12 month low of $8.79 and a 12 month high of $23.42.
California Resources Corp (NYSE:CRC) last released its earnings results on Thursday, May 4th. The oil and gas producer reported ($1.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.25) by $0.23. The company had revenue of $590 million for the quarter, compared to analysts’ expectations of $486.15 million. The company’s revenue was up 83.2% compared to the same quarter last year. Analysts anticipate that California Resources Corp will post ($3.32) earnings per share for the current year.
Separately, Zacks Investment Research raised California Resources Corp from a “sell” rating to a “hold” rating in a report on Wednesday, January 25th.
In related news, Director Justin A. Gannon bought 2,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were bought at an average cost of $13.60 per share, for a total transaction of $27,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.08% of the stock is currently owned by insiders.
California Resources Corp Company Profile
California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produced approximately 140 thousand barrels of oil equivalent per day (MBoe/d), as of December 31, 2016. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe).
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