Soros Fund Management LLC continued to hold its stake in shares of California Resources Corporation (NYSE:CRC) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,000,000 shares of the oil and gas producer’s stock at the end of the first quarter. Soros Fund Management LLC’s holdings in California Resources Corporation were worth $30,080,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Karp Capital Management Corp bought a new stake in shares of California Resources Corporation during the first quarter worth about $182,000. Ameriprise Financial Inc. raised its stake in shares of California Resources Corporation by 12.6% in the first quarter. Ameriprise Financial Inc. now owns 12,152 shares of the oil and gas producer’s stock worth $182,000 after buying an additional 1,356 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of California Resources Corporation during the first quarter worth about $194,000. Two Sigma Securities LLC bought a new stake in shares of California Resources Corporation during the first quarter worth about $228,000. Finally, UBS Group AG raised its stake in shares of California Resources Corporation by 41.0% in the first quarter. UBS Group AG now owns 15,451 shares of the oil and gas producer’s stock worth $232,000 after buying an additional 4,493 shares during the period. 69.97% of the stock is currently owned by institutional investors.
Shares of California Resources Corporation (CRC) traded up 0.88% during midday trading on Friday, hitting $10.36. The stock had a trading volume of 1,638,686 shares. The stock has a 50 day moving average price of $11.71 and a 200-day moving average price of $16.10. The stock has a market capitalization of $441.25 million, a price-to-earnings ratio of 1.14 and a beta of 6.28. California Resources Corporation has a 52 week low of $8.79 and a 52 week high of $23.42.
California Resources Corporation (NYSE:CRC) last issued its quarterly earnings data on Thursday, May 4th. The oil and gas producer reported ($1.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.25) by $0.23. The business had revenue of $590 million for the quarter, compared to analyst estimates of $486.15 million. The firm’s revenue was up 83.2% on a year-over-year basis. Equities research analysts anticipate that California Resources Corporation will post ($3.49) earnings per share for the current year.
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In other California Resources Corporation news, Director Justin A. Gannon acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were acquired at an average price of $13.60 per share, with a total value of $27,200.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.91% of the company’s stock.
California Resources Corporation Company 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).
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