California Resources Co. (NYSE:CRC) Major Shareholder Goldentree Asset Management Lp Sells 299,151 Shares of Stock

California Resources Co. (NYSE:CRC) major shareholder Goldentree Asset Management Lp sold 299,151 shares of the stock in a transaction dated Wednesday, June 9th. The shares were sold at an average price of $32.93, for a total transaction of $9,851,042.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Monday, June 7th, Goldentree Asset Management Lp sold 369,602 shares of California Resources stock. The shares were sold at an average price of $33.30, for a total transaction of $12,307,746.60.
  • On Friday, June 4th, Goldentree Asset Management Lp sold 60,374 shares of California Resources stock. The shares were sold at an average price of $29.91, for a total transaction of $1,805,786.34.
  • On Friday, May 28th, Goldentree Asset Management Lp sold 65,029 shares of California Resources stock. The shares were sold at an average price of $29.12, for a total transaction of $1,893,644.48.
  • On Wednesday, May 26th, Goldentree Asset Management Lp sold 121,626 shares of California Resources stock. The shares were sold at an average price of $29.56, for a total transaction of $3,595,264.56.
  • On Monday, May 24th, Goldentree Asset Management Lp sold 132,592 shares of California Resources stock. The shares were sold at an average price of $29.91, for a total transaction of $3,965,826.72.
  • On Thursday, May 20th, Goldentree Asset Management Lp sold 296,488 shares of California Resources stock. The shares were sold at an average price of $29.19, for a total transaction of $8,654,484.72.
  • On Tuesday, May 18th, Goldentree Asset Management Lp sold 596,419 shares of California Resources stock. The shares were sold at an average price of $28.69, for a total transaction of $17,111,261.11.
  • On Thursday, May 13th, Goldentree Asset Management Lp sold 20,000 shares of California Resources stock. The shares were sold at an average price of $25.43, for a total transaction of $508,600.00.

California Resources stock opened at $32.52 on Friday. The company has a 50 day moving average price of $26.22. California Resources Co. has a 1-year low of $10.99 and a 1-year high of $34.09. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.74 and a quick ratio of 0.65.

California Resources (NYSE:CRC) last posted its quarterly earnings results on Thursday, May 13th. The oil and gas producer reported $1.22 earnings per share for the quarter. The firm had revenue of $363.00 million during the quarter.

Several large investors have recently bought and sold shares of the stock. UBS Group AG boosted its position in shares of California Resources by 2,062.4% during the 1st quarter. UBS Group AG now owns 2,011 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 1,918 shares during the period. Mraz Amerine & Associates Inc. boosted its position in shares of California Resources by 10.4% during the 1st quarter. Mraz Amerine & Associates Inc. now owns 20,452 shares of the oil and gas producer’s stock worth $492,000 after purchasing an additional 1,935 shares during the period. Federated Hermes Inc. purchased a new position in shares of California Resources during the 4th quarter worth approximately $46,000. Advisors Asset Management Inc. purchased a new position in California Resources in the 1st quarter valued at approximately $75,000. Finally, Morgan Stanley boosted its position in California Resources by 15.2% in the 1st quarter. Morgan Stanley now owns 27,570 shares of the oil and gas producer’s stock valued at $663,000 after buying an additional 3,633 shares during the period. 84.35% of the stock is owned by hedge funds and other institutional investors.

Separately, Royal Bank of Canada assumed coverage on shares of California Resources in a research note on Thursday, May 27th. They issued an “outperform” rating and a $40.00 price target for the company.

About California Resources

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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