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

California Resources Co. (NYSE:CRC) major shareholder Goldentree Asset Management Lp sold 299,151 shares of the company’s stock in a transaction that occurred on Wednesday, June 9th. The shares were sold at an average price of $32.93, for a total value of $9,851,042.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares 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 value of $12,307,746.60.
  • On Friday, June 4th, Goldentree Asset Management Lp sold 60,374 shares of California Resources stock. The stock was sold at an average price of $29.91, for a total value of $1,805,786.34.
  • On Friday, May 28th, Goldentree Asset Management Lp sold 65,029 shares of California Resources stock. The stock was sold at an average price of $29.12, for a total value of $1,893,644.48.
  • On Wednesday, May 26th, Goldentree Asset Management Lp sold 121,626 shares of California Resources stock. The stock was sold at an average price of $29.56, for a total value of $3,595,264.56.
  • On Monday, May 24th, Goldentree Asset Management Lp sold 132,592 shares of California Resources stock. The stock was sold at an average price of $29.91, for a total value 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 value 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 value 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 value of $508,600.00.

Shares of CRC stock traded down $0.25 during mid-day trading on Thursday, hitting $32.52. The company’s stock had a trading volume of 1,123,232 shares, compared to its average volume of 400,601. The stock’s fifty day simple moving average is $26.22. California Resources Co. has a 52 week low of $10.99 and a 52 week high of $34.09. The company has a current ratio of 0.74, a quick ratio of 0.65 and a debt-to-equity ratio of 0.54.

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

Separately, Royal Bank of Canada started coverage on California Resources in a report on Thursday, May 27th. They set an “outperform” rating and a $40.00 target price on the stock.

Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. bought a new stake in California Resources in the 4th quarter valued at about $46,000. UBS Group AG increased its position in California Resources by 2,062.4% in the 1st quarter. UBS Group AG now owns 2,011 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 1,918 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in California Resources in the 1st quarter valued at about $75,000. Cubist Systematic Strategies LLC bought a new stake in California Resources in the 1st quarter valued at about $214,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in California Resources during the 1st quarter valued at about $302,000. 84.35% of the stock is owned by institutional investors and hedge funds.

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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