California Resources Corporation (CRC) Longs: Don’t Rock the Boardroom Too Much!

California Resources Corporation (NYSE:CRC) is on recovery track with 55.28% gain from a 1-year low price of $13.26. The company lost -3.29% to attain the price of $20.59 on 01/11/2019. Throughout the recent session, the prices were hovering between $20.25 and $21.003. These shares are 73.09% off its target price of $35.64 and the current market capitalization stands at $1.03B. The recent change has given its price a -9.27% deficit over SMA 50 and -59.1% deficit over its 52-week high. The stock witnessed -0.53% declines, -48.78% declines and -49.65% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found CRC’s volatility during a week at 6.59% and during a month it has been found around 9.14%.

California Resources Corporation (CRC) Top Holders

Institutional investors currently hold around $695 million or 72.4% in CRC stock. Look at its top three institutional owners. Vanguard Group Inc owns $78.31 million in California Resources Corporation, which represents roughly 7.6% of the company’s market cap and approximately 11.27% of the institutional ownership. Similar statistics are true for the second largest owner, Blackrock Inc., which owns 3,136,083 shares of the stock are valued at $64.57 million. The third largest holder is State Street Corp, which currently holds $54.32 million worth of this stock and that ownership represents nearly 5.27% of its market capitalization.

California Resources Corporation 13F Filings

At the end of September reporting period, 118 institutional holders increased their position in California Resources Corporation (NYSE:CRC) by some 5,681,192 shares, 114 decreased positions by 4,837,252 and 106 held positions by 23,246,770. That puts total institutional holdings at 33,765,214 shares, according to SEC filings. The stock grabbed 45 new institutional investments totaling 1,008,549 shares while 43 institutional investors sold out their entire positions totaling 1,884,363 shares.

California Resources Corporation (NYSE:CRC) Insider Trades

Multiple company employees have indulged in significant insider trading. California Resources Corporation disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Director Gannon Justin A. has acquired 1,000 shares of California Resources Corporation (CRC) in trading session dated Nov. 21, 2018. These shares are worth $22,750 and were traded at $22.75 each. The SEC filing shows that Korell Harold M performed a purchase of 4,736 shares. The Director added these shares by way of transaction on Nov. 20, 2018. The company’s shares were assimilated at $21.11 per share worth to an investment of some $99,977 on account of Korell Harold M.

Director, Korell Harold M, purchased 1,848 common shares of California Resources Corporation (CRC) in the open market. In a transaction dated Nov. 06, 2018, the shares were bought at an average price of $29.17, giving away a sum of $53,906. After this purchase, 39,719 common shares of CRC are directly owned by the insider, with total stake valued at $817,814.

In the transaction dated Mar. 01, 2018, the great number of shares acquired came courtesy the Director; Gannon Justin A. added a total of 2,000 shares at an average price of $14.09, amounting to approximately $28,180. The insider now directly owns 27,577 shares worth $567,810.

California Resources Corporation (CRC) Analyst Guide

Several analysts have released their opinion on California Resources Corporation (NYSE:CRC), with 1 analysts believing it is a strong buy. Whereas 3 of them predict the stock is a hold. Also, there are 3 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.29 average brokerage recommendation.