Justin A. Gannon Purchases 2,000 Shares of California Resources Corp (CRC) Stock

California Resources Corp (NYSE:CRC) Director Justin A. Gannon bought 2,000 shares of the stock in a transaction on Thursday, May 11th. The stock was bought at an average price of $13.60 per share, for a total transaction of $27,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of California Resources Corp (NYSE:CRC) traded up 2.78% on Friday, hitting $11.85. The company’s stock had a trading volume of 906,286 shares. The company has a 50 day moving average of $12.58 and a 200 day moving average of $16.41. The firm has a market cap of $504.72 million, a PE ratio of 1.31 and a beta of 6.79. California Resources Corp has a 1-year low of $8.79 and a 1-year high of $23.42.

California Resources Corp (NYSE:CRC) last announced its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported ($1.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.23. The company had revenue of $590 million for the quarter, compared to analyst estimates of $486.15 million. The company’s revenue for the quarter was up 83.2% on a year-over-year basis. Equities analysts forecast that California Resources Corp will post ($3.50) EPS for the current year.

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Hedge funds have recently made changes to their positions in the company. Karp Capital Management Corp bought a new stake in shares of California Resources Corp during the first quarter worth $182,000. Ameriprise Financial Inc. boosted its stake in California Resources Corp by 12.6% in the first quarter. Ameriprise Financial Inc. now owns 12,152 shares of the oil and gas producer’s stock valued at $182,000 after buying an additional 1,356 shares in the last quarter. Phoenix Investment Adviser LLC acquired a new stake in California Resources Corp during the third quarter valued at approximately $188,000. Raymond James Financial Services Advisors Inc. acquired a new stake in California Resources Corp during the first quarter valued at approximately $194,000. Finally, Wells Fargo & Company MN boosted its stake in California Resources Corp by 1.0% in the third quarter. Wells Fargo & Company MN now owns 16,812 shares of the oil and gas producer’s stock valued at $211,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.

About California Resources Corp

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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