Harold M. Korell Acquires 1,848 Shares of California Resources Corp (CRC) Stock

California Resources Corp (NYSE:CRC) Director Harold M. Korell purchased 1,848 shares of the stock in a transaction on Tuesday, November 6th. The shares were purchased at an average price of $29.17 per share, with a total value of $53,906.16. Following the acquisition, the director now owns 39,719 shares in the company, valued at approximately $1,158,603.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of CRC stock opened at $29.34 on Thursday. The company has a market cap of $1.39 billion, a PE ratio of -6.67 and a beta of 5.50. California Resources Corp has a 52 week low of $13.26 and a 52 week high of $50.34.

California Resources (NYSE:CRC) last announced its quarterly earnings data on Thursday, November 1st. The oil and gas producer reported $0.81 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.89. The company had revenue of $828.00 million during the quarter, compared to the consensus estimate of $689.83 million. California Resources had a negative net margin of 6.39% and a negative return on equity of 3.20%. The company’s quarterly revenue was up 86.1% on a year-over-year basis. During the same quarter last year, the firm posted ($1.22) EPS. Research analysts expect that California Resources Corp will post 1.03 earnings per share for the current year.

Several research analysts have issued reports on CRC shares. ValuEngine lowered shares of California Resources from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 17th. Societe Generale upgraded shares of California Resources from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Zacks Investment Research upgraded shares of California Resources from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Friday, July 20th. Finally, Evercore ISI started coverage on shares of California Resources in a report on Friday, September 21st. They set an “outperform” rating and a $55.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $39.75.

Hedge funds have recently made changes to their positions in the company. BlueMountain Capital Management LLC acquired a new stake in shares of California Resources during the 2nd quarter worth approximately $185,000. Guidant Wealth Advisors grew its position in shares of California Resources by 7,327.0% during the 2nd quarter. Guidant Wealth Advisors now owns 4,679 shares of the oil and gas producer’s stock worth $129,000 after buying an additional 4,616 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of California Resources during the 2nd quarter worth approximately $216,000. SG Americas Securities LLC acquired a new stake in shares of California Resources during the 2nd quarter worth approximately $216,000. Finally, Great West Life Assurance Co. Can grew its position in shares of California Resources by 76.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 4,771 shares of the oil and gas producer’s stock worth $217,000 after buying an additional 2,061 shares during the period. 68.11% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This article was originally published by WKRB News and is the sole property of of WKRB News. If you are accessing this article on another site, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.wkrb13.com/2018/11/08/harold-m-korell-acquires-1848-shares-of-california-resources-corp-crc-stock.html.

About California Resources

California Resources Corporation operates as an 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.

Featured Article: How Investors Use a Balance Sheet

Receive News & Ratings for California Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply