21,700 Shares in California Resources Corporation (CRC) Purchased by Mariner Investment Group LLC

Mariner Investment Group LLC acquired a new stake in shares of California Resources Corporation (NYSE:CRC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 21,700 shares of the oil and gas producer’s stock, valued at approximately $227,000. Mariner Investment Group LLC owned about 0.05% of California Resources Corporation at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its holdings 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 valued at $116,000 after buying an additional 743 shares during the last quarter. Koch Industries Inc. grew its holdings in shares of California Resources Corporation by 1,014.6% during the second quarter. Koch Industries Inc. now owns 148,225 shares of the oil and gas producer’s stock valued at $133,000 after buying an additional 134,927 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of California Resources Corporation during the second quarter valued at about $141,000. BlueCrest Capital Management Ltd grew its holdings 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 valued at $144,000 after buying an additional 2,509 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings 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 valued at $164,000 after buying an additional 5,631 shares during the last quarter. Hedge funds and other institutional investors own 74.15% of the company’s stock.

California Resources Corporation (NYSE:CRC) traded up $1.79 on Monday, reaching $13.83. 1,639,535 shares of the company’s stock were exchanged, compared to its average volume of 1,304,947. California Resources Corporation has a 52-week low of $6.47 and a 52-week high of $23.42. The company has a debt-to-equity ratio of -10.32, a quick ratio of 0.54 and a current ratio of 0.64.

California Resources Corporation (NYSE:CRC) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.20). The firm had revenue of $516.00 million for the quarter, compared to the consensus estimate of $450.17 million. During the same quarter in the prior year, the business posted ($1.80) earnings per share. The firm’s revenue for the quarter was up 62.8% on a year-over-year basis. research analysts anticipate that California Resources Corporation will post -5.37 earnings per share for the current fiscal year.

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Several research analysts recently weighed in on the stock. ValuEngine upgraded shares of California Resources Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 26th. Zacks Investment Research upgraded shares of California Resources Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Morgan Stanley restated an “equal weight” rating on shares of California Resources Corporation in a report on Saturday, September 16th. Finally, Imperial Capital assumed coverage on shares of California Resources Corporation in a report on Tuesday, October 3rd. They set an “in-line” rating and a $12.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the stock. California Resources Corporation currently has an average rating of “Hold” and an average target price of $11.50.

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

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