SG Americas Securities LLC Sells 9,797 Shares of California Resources Co. (NYSE:CRC)

SG Americas Securities LLC lessened its holdings in shares of California Resources Co. (NYSE:CRCGet Rating) by 43.9% in the first quarter, Holdings Channel.com reports. The fund owned 12,531 shares of the oil and gas producer’s stock after selling 9,797 shares during the period. SG Americas Securities LLC’s holdings in California Resources were worth $561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its holdings in California Resources by 86.9% in the fourth quarter. State Street Corp now owns 2,722,208 shares of the oil and gas producer’s stock worth $116,266,000 after purchasing an additional 1,266,053 shares in the last quarter. Bank of America Corp DE raised its holdings in California Resources by 2,918.9% in the fourth quarter. Bank of America Corp DE now owns 1,027,439 shares of the oil and gas producer’s stock worth $43,882,000 after purchasing an additional 993,406 shares in the last quarter. Wolf Hill Capital Management LP bought a new position in California Resources in the fourth quarter worth $13,045,000. Alliancebernstein L.P. raised its holdings in California Resources by 44.1% in the fourth quarter. Alliancebernstein L.P. now owns 683,100 shares of the oil and gas producer’s stock worth $29,175,000 after purchasing an additional 209,000 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of California Resources by 120.3% in the fourth quarter. Marshall Wace LLP now owns 338,890 shares of the oil and gas producer’s stock worth $14,472,000 after acquiring an additional 185,036 shares during the last quarter. Institutional investors own 92.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CRC. StockNews.com cut California Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. KeyCorp increased their target price on California Resources from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, April 8th. MKM Partners reissued a “buy” rating and issued a $48.00 target price on shares of California Resources in a research note on Wednesday, July 20th. Bank of America cut California Resources from a “buy” rating to an “underperform” rating and set a $49.00 target price on the stock. in a research note on Tuesday, July 19th. Finally, TheStreet cut California Resources from a “c” rating to a “d” rating in a research report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, California Resources has an average rating of “Moderate Buy” and a consensus target price of $53.60.

California Resources Trading Down 3.0 %

Shares of NYSE:CRC opened at $42.05 on Friday. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 6.70 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.65 and a current ratio of 0.69. The stock’s 50-day simple moving average is $42.10 and its two-hundred day simple moving average is $42.63. California Resources Co. has a 52-week low of $26.87 and a 52-week high of $50.44.

California Resources (NYSE:CRCGet Rating) last announced its earnings results on Thursday, May 5th. The oil and gas producer reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.01). The firm had revenue of $153.00 million during the quarter, compared to analysts’ expectations of $443.19 million. California Resources had a return on equity of 38.92% and a net margin of 31.63%. The company’s revenue for the quarter was down 57.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 earnings per share. Analysts expect that California Resources Co. will post 7.19 EPS for the current year.

California Resources Company Profile

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California Resources Corporation operates as an independent oil and natural gas company. The company explores for, produces, gathers, processes, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities.

See Also

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

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