Key Square Capital Management LLC bought a new position in shares of California Resources Corp (NYSE:CRC) during the fourth quarter, Holdings Channel reports. The fund bought 538,610 shares of the oil and gas producer’s stock, valued at approximately $10,471,000. California Resources comprises about 1.0% of Key Square Capital Management LLC’s portfolio, making the stock its 19th biggest holding.

Other hedge funds have also bought and sold shares of the company. Adams Asset Advisors LLC acquired a new position in shares of California Resources during the 3rd quarter worth approximately $2,060,000. Janus Henderson Group PLC grew its holdings in California Resources by 7.6% in the 2nd quarter. Janus Henderson Group PLC now owns 750,968 shares of the oil and gas producer’s stock valued at $6,421,000 after buying an additional 52,748 shares in the last quarter. State Street Corp grew its holdings in California Resources by 23.1% in the 2nd quarter. State Street Corp now owns 3,588,170 shares of the oil and gas producer’s stock valued at $30,673,000 after buying an additional 672,825 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in California Resources in the 2nd quarter valued at $1,285,000. Finally, Vanguard Group Inc. grew its holdings in California Resources by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,848,193 shares of the oil and gas producer’s stock valued at $15,803,000 after buying an additional 84,072 shares in the last quarter. 74.41% of the stock is currently owned by institutional investors and hedge funds.

Shares of California Resources Corp (NYSE:CRC) opened at $20.25 on Thursday. 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 Corp has a 1 year low of $6.47 and a 1 year high of $25.06.

CRC has been the topic of a number of research reports. Bank of America raised California Resources from a “neutral” rating to a “buy” rating in a report on Tuesday, January 16th. Societe Generale raised California Resources from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Zacks Investment Research raised California Resources from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, November 9th. Morgan Stanley increased their target price on California Resources from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 18th. Finally, Imperial Capital increased their target price on California Resources from $12.00 to $18.00 and gave the stock an “in-line” rating in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $21.50.

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About California Resources

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

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