California Resources Co. (NYSE: CRC) Major shareholder Goldentree Asset Management Lp sells 32,577 shares

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California Resources Co. (NYSE: CRC) main shareholder Goldentree Asset Management Lp sold 32,577 shares of the company in a transaction that took place on Thursday, October 14. The shares were sold for an average price of $ 43.05, for a total value of $ 1,402,439.85. The transaction was disclosed in a file with the Securities & Exchange Commission, accessible through the SEC website. Major shareholders who own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Goldentree Asset Management Lp also recently completed the following transactions:

  • On Monday, October 4, Goldentree Asset Management Lp sold 26,169 shares of California Resources. The shares were sold for an average price of $ 42.27, for a total value of $ 1,106,163.63.
  • On Friday October 1, Goldentree Asset Management Lp sold 131,847 shares of California Resources. The shares were sold for an average price of $ 42.20, for a total value of $ 5,563,943.40.
  • On Monday, September 27, Goldentree Asset Management Lp sold 2,000 shares of California Resources. The stock was sold for an average price of $ 42.57, for a total value of $ 85,140.00.
  • On Wednesday September 15, Goldentree Asset Management Lp sold 791,813 shares of California Resources. The stock was sold for an average price of $ 43.39, for a total value of $ 34,356,766.07.
  • On Monday, September 13, Goldentree Asset Management Lp sold 100,000 shares of California Resources. The stock was sold for an average price of $ 41.99, for a total value of $ 4,199,000.00.
  • On Thursday, September 9, Goldentree Asset Management Lp sold 31,556 shares of California Resources. The stock was sold for an average price of $ 39.23, for a total value of $ 1,237,941.88.
  • On Tuesday, September 7, Goldentree Asset Management Lp sold 64,450 shares of California Resources. The stock was sold for an average price of $ 37.77, for a total value of $ 2,434,276.50.
  • On Thursday, September 2, Goldentree Asset Management Lp sold 367,695 shares of California Resources. The stock was sold for an average price of $ 36.06, for a total value of $ 13,259,081.70.
  • On Tuesday, August 31, Goldentree Asset Management Lp sold 100,000 shares of California Resources. The stock was sold for an average price of $ 33.84, for a total value of $ 3,384,000.00.
  • On Friday August 27, Goldentree Asset Management Lp sold 3,445 shares of California Resources. The stock was sold for an average price of $ 33.83, for a total value of $ 116,544.35.
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CRC shares traded up $ 0.08 during trading hours on Monday, reaching $ 42.57. 1,180,475 shares of the company were traded, for an average volume of 700,480. California Resources Co. has a fifty-two week low of $ 10.99 and a fifty-two week high of $ 44.58. The company has a leverage ratio of 0.64, a quick ratio of 0.59, and a current ratio of 0.65. The company’s fifty-day moving average is $ 37.09 and its 200-day moving average is $ 30.95.

California Resources (NYSE: CRC) last released its results on Thursday, August 5. The oil and gas producer reported earnings per share (EPS) of $ 0.94 for the quarter. California Resources reported a return on equity of 1,765.75% and a net margin of 263.47%. The company reported sales of $ 304.00 million for the quarter. Sell-side analysts expect California Resources Co. to post 4.61 EPS for the current fiscal year.

A number of research analysts have commented on CRC’s actions. MKM Partners began covering California Resources in a report on Tuesday, September 21. They issued a “buy” note and a target price of $ 54.00 on the stock. KeyCorp raised its price target on California Resources from $ 45 to $ 47.00 and rated the company “overweight” in a report released Thursday, September 16. Finally, the Royal Bank of Canada raised its price target on California Resources from $ 44.00 to $ 60.00 and gave the company an “outperformance” rating in a report released on Wednesday, September 8.

Hedge funds recently changed their positions in the title. UBS Group AG increased its position in California Resources shares by 2,062.4% in the first quarter. UBS Group AG now owns 2,011 shares of the oil and gas producer valued at $ 48,000 after purchasing an additional 1,918 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in California Resources in the second quarter valued at approximately $ 78,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in California Resources in the second quarter for a value of approximately $ 142,000. Citigroup Inc. increased its position in California Resources by 5,534.9% in the second quarter. Citigroup Inc. now owns 4,846 shares of the oil and gas producer valued at $ 146,000 after purchasing an additional 4,760 shares in the last quarter. Finally, Shell Asset Management Co. bought a new position in California Resources in the second quarter for a value of approximately $ 175,000.

California Resources Company Profile

California Resources Corporation is 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 dealers, California refineries and other buyers who have access to transportation and storage facilities.

See also: Fiduciary

California Resources Quarterly Insider Buys and Sells (NYSE: CRC)

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