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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. grew its position in California Resources by 4.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 38,067 shares of the oil and gas producer’s stock worth $654,000 after buying an additional 1,707 shares during the period. Rhumbline Advisers grew its position in California Resources by 5.9% during the second quarter. Rhumbline Advisers now owns 60,784 shares of the oil and gas producer’s stock worth $2,762,000 after buying an additional 3,401 shares during the period. Commonwealth Equity Services LLC grew its position in California Resources by 9.0% during the first quarter. Commonwealth Equity Services LLC now owns 43,115 shares of the oil and gas producer’s stock worth $739,000 after buying an additional 3,567 shares during the period. Guidant Wealth Advisors grew its position in California Resources by 7,327.0% during the second quarter. Guidant Wealth Advisors now owns 4,679 shares of the oil and gas producer’s stock worth $129,000 after buying an additional 4,616 shares during the period. Finally, Amalgamated Bank acquired a new position in California Resources during the second quarter worth about $262,000. 72.26% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on CRC. ValuEngine lowered shares of California Resources from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 11th. Zacks Investment Research upgraded shares of California Resources from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Friday, July 20th. Finally, Evercore ISI began coverage on shares of California Resources in a research report on Friday, September 21st. They set an “outperform” rating and a $55.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $34.64.

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

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

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

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