California Resources Corporation (CRC) Shares Bought by Teachers Advisors LLC
Teachers Advisors LLC raised its position in shares of California Resources Corporation (NYSE:CRC) by 44.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,529 shares of the oil and gas producer’s stock after purchasing an additional 28,485 shares during the period. Teachers Advisors LLC owned about 0.22% of California Resources Corporation worth $791,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CRC. Capital Fund Management S.A. bought a new position in shares of California Resources Corporation in the 2nd quarter worth $3,642,000. Alliancebernstein L.P. raised its position in shares of California Resources Corporation by 67.1% in the 2nd quarter. Alliancebernstein L.P. now owns 98,637 shares of the oil and gas producer’s stock worth $843,000 after acquiring an additional 39,599 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of California Resources Corporation by 623.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 38,168 shares of the oil and gas producer’s stock worth $327,000 after acquiring an additional 32,890 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of California Resources Corporation by 8.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 215,807 shares of the oil and gas producer’s stock worth $1,845,000 after acquiring an additional 17,333 shares in the last quarter. Finally, Federated Investors Inc. PA raised its position in shares of California Resources Corporation by 30.3% in the 2nd quarter. Federated Investors Inc. PA now owns 123,337 shares of the oil and gas producer’s stock worth $1,055,000 after acquiring an additional 28,714 shares in the last quarter. 74.15% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on CRC. Morgan Stanley boosted their price target on California Resources Corporation from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Zacks Investment Research raised California Resources Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. ValuEngine raised California Resources Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th. Finally, Imperial Capital began coverage on California Resources Corporation in a research report on Tuesday, October 3rd. They issued an “in-line” rating and a $12.00 price target for the company. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.50.
California Resources Corporation (NYSE:CRC) opened at $12.04 on Monday. The company has a current ratio of 0.64, a quick ratio of 0.54 and a debt-to-equity ratio of -10.32. California Resources Corporation has a 1 year low of $6.47 and a 1 year high of $23.42.
California Resources Corporation (NYSE:CRC) last announced its earnings results on Thursday, August 3rd. The oil and gas producer reported ($1.83) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.63) by ($0.20). The company had revenue of $516.00 million during the quarter, compared to analysts’ expectations of $450.17 million. During the same quarter last year, the business posted ($1.80) EPS. California Resources Corporation’s revenue was up 62.8% compared to the same quarter last year. sell-side analysts predict that California Resources Corporation will post -5.37 EPS for the current fiscal year.
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California Resources Corporation 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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