Gamco Investors INC. ET AL lessened its stake in shares of California Resources Corp (NYSE:CRC) by 63.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,455 shares of the oil and gas producer’s stock after selling 22,008 shares during the quarter. Gamco Investors INC. ET AL’s holdings in California Resources were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Barnett & Company Inc. boosted its position in shares of California Resources by 306.9% during the 4th quarter. Barnett & Company Inc. now owns 5,701 shares of the oil and gas producer’s stock valued at $111,000 after acquiring an additional 4,300 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of California Resources during the 4th quarter valued at about $909,000. GSA Capital Partners LLP bought a new stake in shares of California Resources during the 3rd quarter valued at about $770,000. California Public Employees Retirement System boosted its position in shares of California Resources by 7.6% during the 3rd quarter. California Public Employees Retirement System now owns 335,911 shares of the oil and gas producer’s stock valued at $3,514,000 after acquiring an additional 23,605 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of California Resources during the 3rd quarter valued at about $164,000. 72.66% of the stock is owned by institutional investors and hedge funds.

CRC has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on California Resources from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Zacks Investment Research upgraded California Resources from a “hold” rating to a “strong-buy” rating and set a $12.00 price target for the company in a research report on Wednesday, October 18th. Societe Generale upgraded California Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Imperial Capital lifted their price target on California Resources from $12.00 to $18.00 and gave the company an “in-line” rating in a research report on Wednesday, November 8th. Finally, Bank of America upgraded California Resources from an “underperform” rating to a “neutral” rating and set a $24.00 price target for the company in a research report on Thursday, January 4th. Two investment 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’s stock. The stock has an average rating of “Hold” and an average price target of $23.42.

Shares of California Resources Corp (NYSE:CRC) opened at $18.31 on Wednesday. The firm has a market capitalization of $803.35, a P/E ratio of -3.78 and a beta of 6.16. California Resources Corp has a 12-month low of $6.47 and a 12-month high of $25.06. The company has a debt-to-equity ratio of -8.78, a current ratio of 0.61 and a quick ratio of 0.53.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright and trademark laws. The original version of this piece of content can be read at https://www.dailypolitical.com/2018/02/14/california-resources-corp-crc-holdings-trimmed-by-gamco-investors-inc-et-al.html.

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).

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)

Receive News & Ratings for California Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Resources and related companies with MarketBeat.com's FREE daily email newsletter.