Great West Life Assurance Co. Can boosted its position in California Resources Corp (NYSE:CRC) by 76.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,771 shares of the oil and gas producer’s stock after purchasing an additional 2,061 shares during the quarter. Great West Life Assurance Co. Can’s holdings in California Resources were worth $217,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Chicago Equity Partners LLC purchased a new stake in California Resources in the second quarter valued at approximately $2,026,000. BlackRock Inc. boosted its position in California Resources by 5.5% in the 2nd 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 in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in California Resources in the 2nd quarter worth approximately $373,000. Swiss National Bank boosted its position in California Resources by 4.7% in the 2nd quarter. Swiss National Bank now owns 70,989 shares of the oil and gas producer’s stock worth $3,226,000 after purchasing an additional 3,200 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in California Resources in the 2nd quarter worth approximately $565,000. Institutional investors and hedge funds own 72.26% of the company’s stock.
California Resources stock opened at $39.60 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of -7.87. California Resources Corp has a 12 month low of $8.84 and a 12 month high of $48.85.
Several equities research analysts have commented on CRC shares. Zacks Investment Research upgraded California Resources from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Friday, July 20th. ValuEngine lowered California Resources from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 11th. Finally, Evercore ISI started coverage on California Resources in a research report on Friday. They issued an “outperform” rating and a $55.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $34.64.
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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