Advisors Preferred LLC Buys Shares of 28,295 California Resources Corporation $CRC

Advisors Preferred LLC acquired a new position in California Resources Corporation (NYSE:CRC) during the third quarter, HoldingsChannel.com reports. The fund acquired 28,295 shares of the oil and gas producer’s stock, valued at approximately $1,505,000.

Several other large investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in shares of California Resources by 23.9% in the third quarter. Principal Financial Group Inc. now owns 468,669 shares of the oil and gas producer’s stock worth $24,924,000 after acquiring an additional 90,466 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in California Resources during the 3rd quarter valued at approximately $2,200,000. Gallacher Capital Management LLC purchased a new position in California Resources in the 3rd quarter worth approximately $1,002,000. Great Lakes Advisors LLC bought a new position in California Resources in the 3rd quarter worth approximately $7,291,000. Finally, Creative Planning grew its holdings in California Resources by 58.9% during the 2nd quarter. Creative Planning now owns 37,673 shares of the oil and gas producer’s stock valued at $1,721,000 after buying an additional 13,962 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRC has been the topic of several research analyst reports. Barclays set a $65.00 target price on shares of California Resources and gave the stock an “overweight” rating in a report on Wednesday, January 21st. Wells Fargo & Company reiterated an “overweight” rating and issued a $56.00 price target (down previously from $58.00) on shares of California Resources in a research note on Tuesday, December 9th. Mizuho increased their price objective on shares of California Resources from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of California Resources in a report on Wednesday, January 21st. Finally, UBS Group set a $63.00 target price on California Resources and gave the stock a “buy” rating in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $63.90.

California Resources Stock Performance

California Resources stock opened at $59.27 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.89 and a quick ratio of 0.78. The firm has a market capitalization of $4.96 billion, a P/E ratio of 13.78 and a beta of 1.15. California Resources Corporation has a 1-year low of $30.97 and a 1-year high of $60.03. The company’s 50-day moving average is $49.53 and its 200 day moving average is $49.49.

California Resources Profile

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.