Public Employees Retirement System of Ohio Takes $281,000 Position in California Resources Corporation (CRC)

Public Employees Retirement System of Ohio bought a new stake in shares of California Resources Corporation (NYSE:CRC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 32,911 shares of the oil and gas producer’s stock, valued at approximately $281,000. Public Employees Retirement System of Ohio owned about 0.08% of California Resources Corporation as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CRC. Schwab Charles Investment Management Inc. lifted its holdings in shares of California Resources Corporation by 193.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,103,278 shares of the oil and gas producer’s stock valued at $9,434,000 after purchasing an additional 727,264 shares during the last quarter. State Street Corp lifted its holdings in shares of California Resources Corporation by 23.1% during the second quarter. State Street Corp now owns 3,588,170 shares of the oil and gas producer’s stock valued at $30,673,000 after purchasing an additional 672,825 shares during the last quarter. Capital Fund Management S.A. purchased a new position in shares of California Resources Corporation during the second quarter valued at approximately $3,642,000. Crescent Park Management L.P. lifted its holdings in shares of California Resources Corporation by 37.3% during the second quarter. Crescent Park Management L.P. now owns 1,013,766 shares of the oil and gas producer’s stock valued at $8,668,000 after purchasing an additional 275,318 shares during the last quarter. Finally, Thrivent Financial For Lutherans purchased a new position in shares of California Resources Corporation during the second quarter valued at approximately $1,496,000. Hedge funds and other institutional investors own 74.09% of the company’s stock.

Several equities analysts have recently issued reports on CRC shares. Zacks Investment Research upgraded shares of California Resources Corporation from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Thursday, November 9th. Societe Generale upgraded shares of California Resources Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Morgan Stanley lifted their target price on shares of California Resources Corporation from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Imperial Capital boosted their price objective on shares of California Resources Corporation from $12.00 to $18.00 and gave the stock an “in-line” rating in a report on Wednesday, November 8th. Finally, ValuEngine upgraded shares of California Resources Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $14.25.

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California Resources Corporation (CRC) opened at $15.24 on Wednesday. California Resources Corporation has a 1-year low of $6.47 and a 1-year high of $23.42. The company has a debt-to-equity ratio of -8.78, a current ratio of 0.61 and a quick ratio of 0.53.

California Resources Corporation (NYSE:CRC) last announced its quarterly earnings data on Monday, November 6th. The oil and gas producer reported ($1.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.39. The firm had revenue of $455.00 million during the quarter, compared to analysts’ expectations of $476.87 million. During the same quarter in the previous year, the firm earned ($1.75) earnings per share. California Resources Corporation’s revenue was down .2% on a year-over-year basis. sell-side analysts expect that California Resources Corporation will post -4.72 EPS for the current fiscal year.

California Resources Corporation Profile

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).

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

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