Y Intercept Hong Kong Ltd Takes Position in California Resources Co. (NYSE:CRC)

Y Intercept Hong Kong Ltd purchased a new position in shares of California Resources Co. (NYSE:CRC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 9,919 shares of the oil and gas producer’s stock, valued at approximately $515,000.

A number of other large investors have also bought and sold shares of the business. GSA Capital Partners LLP bought a new position in California Resources in the 3rd quarter valued at $682,000. Swiss National Bank lifted its stake in shares of California Resources by 12.7% in the 3rd quarter. Swiss National Bank now owns 121,900 shares of the oil and gas producer’s stock valued at $6,396,000 after purchasing an additional 13,700 shares during the period. Geode Capital Management LLC lifted its stake in shares of California Resources by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer’s stock valued at $83,583,000 after purchasing an additional 55,815 shares during the period. Natixis Advisors LLC acquired a new stake in California Resources during the 3rd quarter worth $579,000. Finally, State Street Corp raised its stake in California Resources by 5.1% during the 3rd quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock worth $181,021,000 after buying an additional 168,278 shares during the period. 97.79% of the stock is currently owned by institutional investors.

California Resources Trading Down 0.1 %

California Resources stock opened at $44.62 on Friday. California Resources Co. has a 52 week low of $43.09 and a 52 week high of $60.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The stock has a market capitalization of $4.08 billion, a P/E ratio of 7.03, a PEG ratio of 1.02 and a beta of 1.04. The stock has a 50-day simple moving average of $50.24 and a 200 day simple moving average of $52.25.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRC. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of California Resources in a report on Tuesday, January 14th. StockNews.com upgraded California Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. JPMorgan Chase & Co. began coverage on California Resources in a report on Friday, December 20th. They set a “neutral” rating and a $63.00 target price for the company. Capital One Financial upgraded California Resources to a “strong-buy” rating in a report on Monday, December 9th. Finally, TD Cowen raised their price objective on California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, California Resources presently has an average rating of “Moderate Buy” and a consensus price target of $67.25.

Insider Buying and Selling

In related news, EVP Omar Hayat sold 16,016 shares of California Resources stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $55.18, for a total transaction of $883,762.88. Following the completion of the transaction, the executive vice president now owns 30,940 shares in the company, valued at approximately $1,707,269.20. This trade represents a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

California Resources Company Profile

California Resources Corporation operates as an independent oil and natural gas exploration and production, and carbon management company in the United States. The company explores, produces, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities.