Rhumbline Advisers increased its holdings in shares of California Resources Corp (NYSE:CRC) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,748 shares of the oil and gas producer’s stock after purchasing an additional 4,625 shares during the period. Rhumbline Advisers owned approximately 0.15% of California Resources worth $677,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mraz Amerine & Associates Inc. acquired a new stake in California Resources in the 3rd quarter valued at approximately $744,000. Mariner Investment Group LLC bought a new position in shares of California Resources during the 3rd quarter worth approximately $227,000. Gamco Investors INC. ET AL boosted its stake in shares of California Resources by 63.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 34,463 shares of the oil and gas producer’s stock worth $360,000 after acquiring an additional 13,400 shares during the period. Adams Asset Advisors LLC bought a new position in shares of California Resources during the 3rd quarter worth approximately $2,060,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of California Resources during the 2nd quarter worth approximately $281,000. Institutional investors and hedge funds own 75.59% of the company’s stock.

California Resources Corp (CRC) opened at $16.25 on Friday. California Resources Corp has a fifty-two week low of $6.47 and a fifty-two week high of $23.42. The company has a debt-to-equity ratio of -8.78, a quick ratio of 0.53 and a current ratio of 0.61.

California Resources (NYSE:CRC) last issued its earnings results on Monday, November 6th. The oil and gas producer reported ($1.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.39. The firm had revenue of $455.00 million during the quarter, compared to analyst estimates of $476.87 million. During the same period in the previous year, the company earned ($1.75) EPS. California Resources’s revenue for the quarter was down .2% on a year-over-year basis. sell-side analysts predict that California Resources Corp will post -4.67 earnings per share for the current fiscal year.

Several brokerages have recently commented on CRC. Morgan Stanley upgraded California Resources from an “equal weight” rating to an “overweight” rating and set a $12.00 target price for the company in a research note on Tuesday, November 7th. ValuEngine upgraded California Resources from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 26th. Societe Generale upgraded California Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Zacks Investment Research upgraded California Resources from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Thursday, November 9th. Finally, Imperial Capital upped their target price on California Resources from $12.00 to $18.00 and gave the company an “in-line” rating in a research report on Wednesday, November 8th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.25.

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California Resources 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).

Institutional Ownership by Quarter for California Resources (NYSE:CRC)

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