MANA Advisors LLC bought a new position in California Resources Corp (NYSE:CRC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,322 shares of the oil and gas producer’s stock, valued at approximately $220,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. lifted its position in California Resources by 37.4% in the 4th quarter. Alliancebernstein L.P. now owns 145,427 shares of the oil and gas producer’s stock worth $2,827,000 after buying an additional 39,590 shares during the last quarter. Geode Capital Management LLC increased its stake in California Resources by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 336,016 shares of the oil and gas producer’s stock worth $6,531,000 after purchasing an additional 15,976 shares during the period. Mackenzie Financial Corp increased its stake in California Resources by 4.0% in the 4th quarter. Mackenzie Financial Corp now owns 1,812,300 shares of the oil and gas producer’s stock worth $35,231,000 after purchasing an additional 70,300 shares during the period. Baird Financial Group Inc. purchased a new position in California Resources in the 4th quarter worth approximately $522,000. Finally, UBS Asset Management Americas Inc. increased its stake in California Resources by 9.7% in the 4th quarter. UBS Asset Management Americas Inc. now owns 95,941 shares of the oil and gas producer’s stock worth $1,865,000 after purchasing an additional 8,515 shares during the period. Institutional investors own 75.11% of the company’s stock.
California Resources Corp (CRC) opened at $14.31 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.66 and a debt-to-equity ratio of -7.37. California Resources Corp has a 12 month low of $6.47 and a 12 month high of $25.06.
In other California Resources news, Director Harry T. Mcmahon bought 35,530 shares of California Resources stock in a transaction dated Thursday, March 1st. The shares were purchased at an average cost of $14.18 per share, with a total value of $503,815.40. Following the completion of the purchase, the director now owns 48,773 shares of the company’s stock, valued at $691,601.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.91% of the stock is currently owned by insiders.
A number of equities analysts have commented on the company. Zacks Investment Research raised California Resources from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine cut California Resources from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 28th. Societe Generale cut California Resources from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Imperial Capital raised California Resources from an “in-line” rating to an “outperform” rating and set a $26.00 price target on the stock in a research note on Monday, February 12th. Finally, Bank of America raised California Resources from an “underperform” rating to a “neutral” rating and set a $24.00 price target on the stock in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $23.42.
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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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