26,350 Shares in California Resources Corporation $CRC Acquired by Amitell Capital Pte Ltd

Amitell Capital Pte Ltd bought a new stake in shares of California Resources Corporation (NYSE:CRC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 26,350 shares of the oil and gas producer’s stock, valued at approximately $1,401,000.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in shares of California Resources by 89.1% in the first quarter. AQR Capital Management LLC now owns 46,532 shares of the oil and gas producer’s stock valued at $2,046,000 after purchasing an additional 21,923 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in California Resources by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,663 shares of the oil and gas producer’s stock worth $1,832,000 after purchasing an additional 2,394 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in California Resources by 38.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 657,628 shares of the oil and gas producer’s stock worth $28,916,000 after purchasing an additional 181,833 shares during the period. Empowered Funds LLC grew its holdings in California Resources by 3.8% during the 1st quarter. Empowered Funds LLC now owns 50,786 shares of the oil and gas producer’s stock valued at $2,233,000 after buying an additional 1,857 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of California Resources by 17.7% during the first quarter. Intech Investment Management LLC now owns 31,870 shares of the oil and gas producer’s stock valued at $1,401,000 after buying an additional 4,783 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

California Resources Price Performance

CRC opened at $58.24 on Thursday. The stock has a 50-day moving average price of $50.28 and a 200-day moving average price of $49.71. California Resources Corporation has a 12-month low of $30.97 and a 12-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 stock has a market capitalization of $4.87 billion, a P/E ratio of 13.54 and a beta of 1.15.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CRC shares. Mizuho raised their price objective on shares of California Resources from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of California Resources in a report on Wednesday, January 21st. TD Cowen upgraded shares of California Resources to a “strong-buy” rating in a research report on Monday, February 9th. Zacks Research raised shares of California Resources from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Finally, Pickering Energy Partners lowered California Resources from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.90.

California Resources Company 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.