California Resources Corporation (CRC) Position Decreased by Cyrus Capital Partners L.P.

Cyrus Capital Partners L.P. trimmed its position in shares of California Resources Corporation (NYSE:CRC) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,430,231 shares of the oil and gas producer’s stock after selling 94,769 shares during the period. California Resources Corporation comprises about 1.5% of Cyrus Capital Partners L.P.’s portfolio, making the stock its 8th biggest position. Cyrus Capital Partners L.P. owned 3.34% of California Resources Corporation worth $12,228,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CRC. Raymond James Financial Services Advisors Inc. increased its stake in shares of California Resources Corporation by 5.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 13,620 shares of the oil and gas producer’s stock worth $116,000 after buying an additional 743 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of California Resources Corporation during the second quarter worth approximately $141,000. BlueCrest Capital Management Ltd increased its stake in shares of California Resources Corporation by 17.5% during the second quarter. BlueCrest Capital Management Ltd now owns 16,808 shares of the oil and gas producer’s stock worth $144,000 after buying an additional 2,509 shares during the period. Voya Investment Management LLC increased its stake in shares of California Resources Corporation by 41.6% during the second quarter. Voya Investment Management LLC now owns 19,162 shares of the oil and gas producer’s stock worth $164,000 after buying an additional 5,631 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of California Resources Corporation during the second quarter worth approximately $180,000. Hedge funds and other institutional investors own 74.80% of the company’s stock.

Shares of California Resources Corporation (NYSE CRC) traded down 2.29% during trading on Thursday, reaching $10.24. 437,432 shares of the company’s stock traded hands. The company has a 50 day moving average price of $9.04 and a 200 day moving average price of $10.07. The stock has a market capitalization of $437.99 million, a PE ratio of 0.92 and a beta of 6.35. 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 released its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported ($1.83) EPS for the quarter, missing the 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 in the previous year, the business earned ($1.80) earnings per share. The business’s quarterly revenue was up 62.8% compared to the same quarter last year. On average, equities analysts forecast that California Resources Corporation will post ($5.85) EPS for the current fiscal year.

A number of research firms recently weighed in on CRC. Imperial Capital began coverage on shares of California Resources Corporation in a research note on Tuesday, October 3rd. They set an “in-line” rating and a $12.00 target price on the stock. ValuEngine lowered shares of California Resources Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of California Resources Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub lowered shares of California Resources Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of California Resources Corporation in a research note on Saturday, September 16th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $14.33.

COPYRIGHT VIOLATION NOTICE: “California Resources Corporation (CRC) Position Decreased by Cyrus Capital Partners L.P.” was reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The original version of this piece of content can be read at https://www.com-unik.info/2017/10/12/california-resources-corporation-crc-position-decreased-by-cyrus-capital-partners-l-p.html.

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).

Want to see what other hedge funds are holding CRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for California Resources Corporation (NYSE:CRC).

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

What are top analysts saying about California Resources Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for California Resources Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit