Shares of California Resources Corp (NYSE:CRC) gapped down before the market opened on Wednesday . The stock had previously closed at $6.68, but opened at $6.59. California Resources shares last traded at $7.84, with a volume of 99,556 shares traded.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of California Resources from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Imperial Capital restated a “buy” rating and set a $11.00 price target on shares of California Resources in a research report on Wednesday, November 27th. Finally, ValuEngine cut shares of California Resources from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $21.83.
The company’s 50-day moving average price is $7.60 and its two-hundred day moving average price is $12.47. The stock has a market cap of $321.23 million, a PE ratio of 5.92 and a beta of 4.40.
Hedge funds and other institutional investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY increased its position in California Resources by 22.4% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 17,289 shares of the oil and gas producer’s stock valued at $176,000 after purchasing an additional 3,167 shares during the period. Millennium Management LLC increased its position in California Resources by 152.8% during the 3rd quarter. Millennium Management LLC now owns 1,071,991 shares of the oil and gas producer’s stock valued at $10,934,000 after buying an additional 647,939 shares in the last quarter. Squarepoint Ops LLC increased its position in California Resources by 100.0% during the 3rd quarter. Squarepoint Ops LLC now owns 130,827 shares of the oil and gas producer’s stock valued at $1,334,000 after buying an additional 65,427 shares in the last quarter. Voloridge Investment Management LLC raised its stake in California Resources by 26.9% during the third quarter. Voloridge Investment Management LLC now owns 154,128 shares of the oil and gas producer’s stock valued at $1,572,000 after buying an additional 32,641 shares during the last quarter. Finally, Covington Capital Management purchased a new position in California Resources during the third quarter valued at $31,000. Institutional investors and hedge funds own 72.81% of the company’s stock.
About California Resources (NYSE:CRC)
California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. The company sells crude oil, natural gas, and natural gas liquids to marketers, California refineries, and other purchasers that have access to transportation and storage facilities.
See Also: What are economic reports?
Receive News & Ratings for California Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Resources and related companies with MarketBeat.com's FREE daily email newsletter.