Justin A. Gannon Acquires 2,000 Shares of California Resources Corp (CRC) Stock
California Resources Corp (NYSE:CRC) Director Justin A. Gannon acquired 2,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were purchased at an average cost of $13.60 per share, for a total transaction of $27,200.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of California Resources Corp (NYSE:CRC) traded down 1.09% on Monday, hitting $12.76. The stock had a trading volume of 2,159,998 shares. The firm has a 50 day moving average of $13.18 and a 200 day moving average of $16.31. The stock has a market cap of $543.47 million, a P/E ratio of 1.41 and a beta of 6.79. California Resources Corp has a 12 month low of $8.79 and a 12 month high of $23.42.
California Resources Corp (NYSE:CRC) last released its earnings results on Thursday, May 4th. The oil and gas producer reported ($1.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.25) by $0.23. The firm had revenue of $590 million for the quarter, compared to the consensus estimate of $486.15 million. The company’s revenue was up 83.2% on a year-over-year basis. On average, equities analysts forecast that California Resources Corp will post ($2.43) earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the company. Karp Capital Management Corp purchased a new position in California Resources Corp during the first quarter worth about $182,000. Ameriprise Financial Inc. increased its position in California Resources Corp 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 in the last quarter. Phoenix Investment Adviser LLC acquired a new position in California Resources Corp during the third quarter worth approximately $188,000. Raymond James Financial Services Advisors Inc. acquired a new position in California Resources Corp during the first quarter worth approximately $194,000. Finally, Wells Fargo & Company MN increased its position in California Resources Corp by 1.0% in the third quarter. Wells Fargo & Company MN now owns 16,812 shares of the oil and gas producer’s stock worth $211,000 after buying an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 82.30% of the company’s stock.
Separately, Zacks Investment Research raised shares of California Resources Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, January 25th.
California Resources Corp 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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