SG Americas Securities LLC Takes Position in California Resources Corp (CRC)

SG Americas Securities LLC acquired a new stake in California Resources Corp (NYSE:CRC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,756 shares of the oil and gas producer’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Guidant Wealth Advisors boosted its stake in California Resources by 7,327.0% in the second quarter. Guidant Wealth Advisors now owns 4,679 shares of the oil and gas producer’s stock valued at $129,000 after acquiring an additional 4,616 shares in the last quarter. Amalgamated Bank acquired a new position in California Resources in the second quarter valued at $262,000. Point72 Asia Hong Kong Ltd acquired a new position in California Resources in the first quarter valued at $119,000. Aperio Group LLC acquired a new position in California Resources in the second quarter valued at $328,000. Finally, Cubist Systematic Strategies LLC boosted its stake in California Resources by 1,469.8% in the first quarter. Cubist Systematic Strategies LLC now owns 7,692 shares of the oil and gas producer’s stock valued at $132,000 after acquiring an additional 7,202 shares in the last quarter. Institutional investors own 72.26% of the company’s stock.

Shares of NYSE:CRC opened at $45.87 on Thursday. California Resources Corp has a one year low of $8.84 and a one year high of $48.85. The company has a debt-to-equity ratio of -7.87, a current ratio of 0.63 and a quick ratio of 0.56.

California Resources (NYSE:CRC) last announced its earnings results on Thursday, August 2nd. The oil and gas producer reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.34). The firm had revenue of $549.00 million for the quarter, compared to analyst estimates of $649.01 million. During the same period last year, the firm earned ($1.83) earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. equities research analysts predict that California Resources Corp will post -0.35 EPS for the current fiscal year.

Several equities analysts have issued reports on the stock. Evercore ISI assumed coverage on shares of California Resources in a research note on Friday, September 21st. They issued an “outperform” rating and a $55.00 price objective for the company. ValuEngine upgraded shares of California Resources from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 19th. Finally, Zacks Investment Research downgraded shares of California Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target 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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Institutional Ownership by Quarter for California Resources (NYSE:CRC)

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