Clayton Partners LLC Acquires 35,461 Shares of California Resources Corporation $CRC

Clayton Partners LLC boosted its holdings in California Resources Corporation (NYSE:CRC) by 35.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 136,100 shares of the oil and gas producer’s stock after purchasing an additional 35,461 shares during the period. California Resources comprises 5.5% of Clayton Partners LLC’s portfolio, making the stock its 4th largest position. Clayton Partners LLC owned 0.16% of California Resources worth $7,238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisors Preferred LLC acquired a new position in shares of California Resources in the 3rd quarter valued at approximately $1,505,000. Semanteon Capital Management LP acquired a new stake in shares of California Resources during the third quarter worth approximately $569,000. Citigroup Inc. raised its holdings in California Resources by 11.3% in the third quarter. Citigroup Inc. now owns 84,239 shares of the oil and gas producer’s stock valued at $4,480,000 after acquiring an additional 8,519 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in California Resources by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 253,699 shares of the oil and gas producer’s stock valued at $13,492,000 after acquiring an additional 26,358 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in California Resources by 30.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,988 shares of the oil and gas producer’s stock valued at $106,000 after acquiring an additional 467 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRC. Barclays set a $65.00 target price on shares of California Resources and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Wells Fargo & Company restated an “overweight” rating and set a $56.00 price objective (down previously from $58.00) on shares of California Resources in a research note on Tuesday, December 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of California Resources in a report on Wednesday, January 21st. Royal Bank Of Canada set a $70.00 price target on California Resources in a report on Monday, January 5th. Finally, Pickering Energy Partners lowered California Resources from an “outperform” rating to a “neutral” rating in a research report on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.90.

California Resources Stock Down 0.2%

Shares of California Resources stock opened at $59.27 on Friday. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 13.78 and a beta of 1.15. California Resources Corporation has a twelve month low of $30.97 and a twelve month high of $60.03. The company has a current ratio of 0.89, a quick ratio of 0.78 and a debt-to-equity ratio of 0.26. The business’s 50 day simple moving average is $49.53 and its 200-day simple moving average is $49.49.

California Resources Profile

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.