Goldentree Asset Management Lp Sells 125,000 Shares of California Resources Co. (NYSE:CRC) Stock

California Resources Co. (NYSE:CRC) major shareholder Goldentree Asset Management Lp sold 125,000 shares of the stock in a transaction on Tuesday, January 11th. The shares were sold at an average price of $43.76, for a total value of $5,470,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Goldentree Asset Management Lp also recently made the following trade(s):

  • On Monday, December 20th, Goldentree Asset Management Lp bought 6,900 shares of California Resources stock. The shares were acquired at an average price of $38.70 per share, for a total transaction of $267,030.00.
  • On Friday, October 29th, Goldentree Asset Management Lp sold 25,000 shares of California Resources stock. The shares were sold at an average price of $45.11, for a total value of $1,127,750.00.
  • On Wednesday, October 27th, Goldentree Asset Management Lp sold 3,900 shares of California Resources stock. The shares were sold at an average price of $44.58, for a total value of $173,862.00.
  • On Monday, October 25th, Goldentree Asset Management Lp sold 62,492 shares of California Resources stock. The shares were sold at an average price of $44.63, for a total value of $2,789,017.96.
  • On Friday, October 22nd, Goldentree Asset Management Lp sold 300 shares of California Resources stock. The shares were sold at an average price of $44.75, for a total value of $13,425.00.
  • On Wednesday, October 20th, Goldentree Asset Management Lp sold 80,238 shares of California Resources stock. The shares were sold at an average price of $44.91, for a total value of $3,603,488.58.
  • On Monday, October 18th, Goldentree Asset Management Lp sold 125,503 shares of California Resources stock. The shares were sold at an average price of $42.75, for a total value of $5,365,253.25.

Shares of California Resources stock opened at $44.11 on Friday. California Resources Co. has a one year low of $21.79 and a one year high of $47.18. The stock’s fifty day moving average is $42.77 and its 200 day moving average is $37.89. The company has a quick ratio of 0.62, a current ratio of 0.69 and a debt-to-equity ratio of 0.56.

California Resources (NYSE:CRC) last announced its earnings results on Thursday, November 11th. The oil and gas producer reported $1.83 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.51. California Resources had a return on equity of 397.26% and a net margin of 241.65%. The company had revenue of $588.00 million for the quarter, compared to analysts’ expectations of $522.40 million. During the same period last year, the firm earned $1.68 EPS. On average, equities analysts expect that California Resources Co. will post 6.03 earnings per share for the current fiscal year.

The firm also recently declared a Not Available dividend, which was paid on Thursday, December 16th. Shareholders of record on Wednesday, December 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, November 30th.

A number of hedge funds have recently modified their holdings of CRC. Rhumbline Advisers purchased a new stake in California Resources in the 2nd quarter worth $3,489,000. Swiss National Bank purchased a new stake in California Resources in the 2nd quarter worth $2,767,000. Nisa Investment Advisors LLC purchased a new stake in California Resources in the 2nd quarter worth $78,000. Citigroup Inc. increased its stake in California Resources by 5,534.9% in the 2nd quarter. Citigroup Inc. now owns 4,846 shares of the oil and gas producer’s stock worth $146,000 after buying an additional 4,760 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in California Resources in the 2nd quarter worth $292,000. Institutional investors and hedge funds own 97.59% of the company’s stock.

Several research firms have recently weighed in on CRC. Zacks Investment Research raised California Resources from a “sell” rating to a “hold” rating in a report on Tuesday. MKM Partners initiated coverage on California Resources in a report on Tuesday, September 21st. They set a “buy” rating and a $54.00 price target on the stock. KeyCorp raised their target price on California Resources from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, November 3rd. Finally, Bank of America initiated coverage on California Resources in a report on Monday, January 10th. They issued a “buy” rating and a $64.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $55.60.

California Resources Company Profile

California Resources Corporation operates as an independent 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.

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Insider Buying and Selling by Quarter for California Resources (NYSE:CRC)

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