Public Sector Pension Investment Board Purchases 78,389 Shares of California Resources Corporation $CRC

Public Sector Pension Investment Board raised its position in California Resources Corporation (NYSE:CRC) by 33.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,529 shares of the oil and gas producer’s stock after buying an additional 78,389 shares during the quarter. Public Sector Pension Investment Board’s holdings in California Resources were worth $16,780,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRC. Salomon & Ludwin LLC bought a new stake in shares of California Resources in the third quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in California Resources in the 2nd quarter worth about $35,000. Nomura Asset Management Co. Ltd. boosted its holdings in California Resources by 97.9% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 460 shares during the period. Nisa Investment Advisors LLC boosted its holdings in California Resources by 29.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 956 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 219 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of California Resources by 242.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,476 shares of the oil and gas producer’s stock worth $67,000 after purchasing an additional 1,045 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Analyst Ratings Changes

CRC has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of California Resources in a research report on Wednesday, January 21st. Mizuho lifted their price objective on California Resources from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, December 12th. TD Cowen raised California Resources to a “strong-buy” rating in a report on Monday, February 9th. Barclays set a $65.00 price target on California Resources and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Finally, Zacks Research downgraded shares of California Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, California Resources presently has a consensus rating of “Moderate Buy” and an average price target of $63.90.

California Resources Price Performance

Shares of CRC stock opened at $56.95 on Friday. The business has a fifty day simple moving average of $48.47 and a 200 day simple moving average of $49.13. The company has a market cap of $4.77 billion, a P/E ratio of 13.24 and a beta of 1.15. The company has a quick ratio of 0.78, a current ratio of 0.89 and a debt-to-equity ratio of 0.26. California Resources Corporation has a twelve month low of $30.97 and a twelve month high of $58.41.

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.