Commerzbank Aktiengesellschaft FI Boosts Stake in California Resources Corp (CRC)

Commerzbank Aktiengesellschaft FI lifted its holdings in California Resources Corp (NYSE:CRC) by 137.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 512,168 shares of the oil and gas producer’s stock after buying an additional 296,361 shares during the period. Commerzbank Aktiengesellschaft FI owned approximately 1.19% of California Resources worth $5,357,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in California Resources by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 153,318 shares of the oil and gas producer’s stock worth $1,604,000 after purchasing an additional 3,079 shares during the period. Wells Fargo & Company MN raised its stake in California Resources by 95.8% during the third quarter. Wells Fargo & Company MN now owns 49,371 shares of the oil and gas producer’s stock worth $517,000 after purchasing an additional 24,159 shares during the period. SG Americas Securities LLC purchased a new position in California Resources during the third quarter worth about $294,000. Cambridge Investment Research Advisors Inc. purchased a new position in California Resources during the third quarter worth about $117,000. Finally, Rhumbline Advisers raised its stake in California Resources by 7.7% during the third quarter. Rhumbline Advisers now owns 64,748 shares of the oil and gas producer’s stock worth $677,000 after purchasing an additional 4,625 shares during the period. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

California Resources Corp (NYSE CRC) opened at $17.45 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.53 and a debt-to-equity ratio of -8.78. California Resources Corp has a twelve month low of $6.47 and a twelve month high of $23.42.

California Resources (NYSE:CRC) last announced its quarterly earnings data on Monday, November 6th. The oil and gas producer reported ($1.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.61) by $0.39. The business had revenue of $455.00 million during the quarter, compared to analyst estimates of $476.87 million. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm posted ($1.75) EPS. sell-side analysts expect that California Resources Corp will post -4.67 EPS for the current fiscal year.

A number of equities analysts have commented on CRC shares. Zacks Investment Research raised shares of California Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Societe Generale raised shares of California Resources from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Imperial Capital boosted their price target on shares of California Resources from $12.00 to $18.00 and gave the company an “in-line” rating in a research note on Wednesday, November 8th. ValuEngine downgraded shares of California Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, October 6th. Finally, Morgan Stanley raised shares of California Resources from an “equal weight” rating to an “overweight” rating and set a $12.00 price target on the stock in a research note on Tuesday, November 7th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $14.25.

COPYRIGHT VIOLATION NOTICE: “Commerzbank Aktiengesellschaft FI Boosts Stake in California Resources Corp (CRC)” was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.com-unik.info/2017/12/03/commerzbank-aktiengesellschaft-fi-boosts-stake-in-california-resources-corp-crc.html.

California Resources Company 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 Corp (NYSE:CRC).

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

What are top analysts saying about California Resources Corp? - 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 Corp 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