Entropy Technologies LP Acquires Shares of 16,208 California Resources Co. (NYSE:CRC)

Entropy Technologies LP purchased a new stake in shares of California Resources Co. (NYSE:CRC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,208 shares of the oil and gas producer's stock, valued at approximately $841,000.

Other hedge funds also recently bought and sold shares of the company. Yousif Capital Management LLC raised its position in California Resources by 0.7% in the fourth quarter. Yousif Capital Management LLC now owns 26,924 shares of the oil and gas producer's stock worth $1,397,000 after purchasing an additional 196 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of California Resources by 22.8% in the fourth quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer's stock valued at $62,000 after purchasing an additional 222 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of California Resources by 9.4% in the third quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer's stock valued at $169,000 after purchasing an additional 276 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in California Resources by 6.0% in the fourth quarter. Clear Harbor Asset Management LLC now owns 7,475 shares of the oil and gas producer's stock valued at $388,000 after acquiring an additional 425 shares during the last quarter. Finally, KBC Group NV boosted its stake in California Resources by 29.1% in the third quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer's stock valued at $100,000 after acquiring an additional 431 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Capital One Financial raised shares of California Resources to a "strong-buy" rating in a research report on Monday, December 9th. JPMorgan Chase & Co. initiated coverage on shares of California Resources in a research note on Friday, December 20th. They issued a "neutral" rating and a $63.00 price target on the stock. Royal Bank of Canada restated an "outperform" rating and set a $70.00 price objective on shares of California Resources in a research note on Tuesday, January 14th. Jefferies Financial Group assumed coverage on shares of California Resources in a report on Thursday, October 24th. They set a "buy" rating and a $64.00 target price for the company. Finally, Stephens assumed coverage on shares of California Resources in a report on Tuesday, October 22nd. They issued an "overweight" rating and a $73.00 price objective for the company. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $67.25.

Insiders Place Their Bets

In related news, EVP Omar Hayat sold 16,016 shares of California Resources stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $55.18, for a total value of $883,762.88. Following the completion of the sale, the executive vice president now directly owns 30,940 shares in the company, valued at $1,707,269.20. The trade was a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.03% of the stock is owned by insiders.

California Resources Stock Performance

Shares of NYSE CRC traded up $2.01 during trading on Friday, reaching $48.30. 1,013,884 shares of the company traded hands, compared to its average volume of 623,661. The firm has a 50 day simple moving average of $51.64 and a 200-day simple moving average of $52.29. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $4.41 billion, a PE ratio of 7.61, a P/E/G ratio of 0.98 and a beta of 1.04. California Resources Co. has a 52-week low of $43.09 and a 52-week high of $60.41.

California Resources Company Profile

California Resources Corporation operates as an independent oil and natural gas exploration and production, and carbon management company in the United States. The company explores, produces, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities.