Mercer Capital Advisers Lowers stake in California Resources Corp (CRC)

California Resources Corp (CRC) : Mercer Capital Advisers reduced its stake in California Resources Corp by 2.62% during the most recent quarter end. The investment management company now holds a total of 1,633 shares of California Resources Corp which is valued at $3,723 after selling 44 shares in California Resources Corp , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.

California Resources Corp opened for trading at $2.31 and hit $2.51 on the upside on Wednesday, eventually ending the session at $2.41, with a gain of 10.55% or 0.23 points. The heightened volatility saw the trading volume jump to 2,36,34,372 shares. Company has a market cap of $936 M.

Other Hedge Funds, Including , Headinvest sold out all of its stake in CRC during the most recent quarter. The investment firm sold 3,356 shares of CRC which is valued $7,652.Trust Department Mb Financial Bank N A reduced its stake in CRC by selling 113 shares or 71.97% in the most recent quarter. The Hedge Fund company now holds 44 shares of CRC which is valued at $66.Oakbrook Investments boosted its stake in CRC in the latest quarter, The investment management firm added 2,587 additional shares and now holds a total of 18,655 shares of California Resources Corp which is valued at $27,983. North American Management Corp sold out all of its stake in CRC during the most recent quarter. The investment firm sold 447 shares of CRC which is valued $671. Guinness Atkinson Asset Management Inc sold out all of its stake in CRC during the most recent quarter. The investment firm sold 2,359 shares of CRC which is valued $3,539.

Many Wall Street Analysts have commented on California Resources Corp. California Resources Corp was Downgraded by Societe Generale to ” Hold” on Mar 2, 2016. California Resources Corp was Downgraded by BofA/Merrill to ” Neutral” on Feb 23, 2016.

California Resources Corporation (CRC) is an independent oil and natural gas exploration and production company operating properties exclusively within the State of California. The Company has a mineral acreage consisting of approximately 2.4 million net acres spanning the state’s four oil and gas basins. The Company’s four oil and gas basins include San Joaquin Basin Los Angeles Basin Ventura Basin and Sacramento Basin. It operates an average of approximately 26 drilling rigs across the state. It drilled approximately 1048 development wells with approximately 847 wells in the San Joaquin basin approximately 177 in the Los Angeles basin approximately 21 in the Ventura basin and approximately 3 in the Sacramento basin. It also drilled approximately 9 exploration wells in the San Joaquin basin approximately 4 in the Ventura basin and 1 in the Sacramento basin.

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