Great West Life Assurance Co. Can lifted its holdings in shares of California Resources Corp (NYSE:CRC) by 76.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,771 shares of the oil and gas producer’s stock after buying an additional 2,061 shares during the period. Great West Life Assurance Co. Can’s holdings in California Resources were worth $217,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CRC. Point72 Asia Hong Kong Ltd acquired a new position in shares of California Resources during the 1st quarter worth approximately $119,000. Guidant Wealth Advisors raised its stake in California Resources by 7,327.0% in the 2nd quarter. Guidant Wealth Advisors now owns 4,679 shares of the oil and gas producer’s stock valued at $129,000 after purchasing an additional 4,616 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in California Resources by 1,469.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 7,692 shares of the oil and gas producer’s stock valued at $132,000 after purchasing an additional 7,202 shares during the last quarter. SG Americas Securities LLC acquired a new position in California Resources in the 2nd quarter valued at $216,000. Finally, Amalgamated Bank acquired a new position in California Resources in the 2nd quarter valued at $262,000. 72.26% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently commented on CRC shares. Zacks Investment Research raised California Resources from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Friday, July 20th. ValuEngine downgraded California Resources from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 11th. Finally, Evercore ISI started coverage on California Resources in a research note on Friday. They issued an “outperform” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $34.64.

NYSE CRC opened at $39.60 on Monday. California Resources Corp has a one year low of $8.84 and a one year high of $48.85. 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 (NYSE:CRC) last posted its quarterly earnings data on Thursday, August 2nd. The oil and gas producer reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.34). The company had revenue of $549.00 million during the quarter, compared to analysts’ expectations of $649.01 million. During the same period in the prior year, the company posted ($1.83) earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. analysts predict that California Resources Corp will post -0.35 EPS for the current fiscal year.

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.

Further Reading: How to calculate the intrinsic value of a stock

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

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