GRT Capital Partners L.L.C. Has $5.02 Million Position in California Resources Corporation (CRC)
GRT Capital Partners L.L.C. increased its stake in California Resources Corporation (NYSE:CRC) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 586,996 shares of the oil and gas producer’s stock after buying an additional 48,541 shares during the period. California Resources Corporation accounts for about 2.9% of GRT Capital Partners L.L.C.’s holdings, making the stock its 6th largest holding. GRT Capital Partners L.L.C. owned 1.38% of California Resources Corporation worth $5,019,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Gamco Investors INC. ET AL purchased a new stake in shares of California Resources Corporation in the 2nd quarter worth approximately $180,000. Ameriprise Financial Inc. grew its stake in shares of California Resources Corporation by 12.6% in the 1st quarter. Ameriprise Financial Inc. now owns 12,152 shares of the oil and gas producer’s stock worth $182,000 after buying an additional 1,356 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of California Resources Corporation in the 1st quarter worth approximately $182,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of California Resources Corporation in the 1st quarter worth approximately $194,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of California Resources Corporation in the 1st quarter worth approximately $215,000. Institutional investors own 74.83% of the company’s stock.
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CRC has been the topic of several recent research reports. Zacks Investment Research upgraded California Resources Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Bank of America Corporation cut California Resources Corporation from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $22.00 to $10.00 in a research report on Friday, June 30th. Finally, BidaskClub cut California Resources Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th.
California Resources Corporation (NYSE:CRC) traded up 1.23% during trading on Wednesday, reaching $8.22. The company had a trading volume of 878,315 shares. The stock has a market capitalization of $351.59 million, a P/E ratio of 0.74 and a beta of 6.24. The stock has a 50 day moving average of $7.43 and a 200-day moving average of $10.98. California Resources Corporation has a 12-month low of $6.47 and a 12-month 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) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.63) by ($0.20). The business had revenue of $516.00 million for the quarter, compared to analyst estimates of $450.17 million. The company’s revenue was up 62.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.80) earnings per share. On average, analysts forecast that California Resources Corporation will post ($5.80) earnings per share for the current fiscal year.
About California Resources Corporation
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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