Astenbeck Capital Management Exits Position in California Resources Corp (CRC)

California Resources Corp (CRC) : Astenbeck Capital Management has sold out all of its stake in California Resources Corp during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 8,405 shares of California Resources Corp which is valued at $104,894.

Other Hedge Funds, Including , Brandywine Global Investment Management added CRC to its portfolio by purchasing 4 company shares during the most recent quarter which is valued at $50. Ubs Oconnor added CRC to its portfolio by purchasing 117,012 company shares during the most recent quarter which is valued at $1,460,310. California Resources Corp makes up approx 0.04% of Ubs Oconnor’s portfolio.Rhumbline Advisers boosted its stake in CRC in the latest quarter, The investment management firm added 8,589 additional shares and now holds a total of 41,741 shares of California Resources Corp which is valued at $520,928. Johnston Asset Management sold out all of its stake in CRC during the most recent quarter. The investment firm sold 1,018 shares of CRC which is valued $10,302. Skylands Capital sold out all of its stake in CRC during the most recent quarter. The investment firm sold 40 shares of CRC which is valued $405.

California Resources Corp closed down -0.32 points or -3.22% at $9.61 with 23,89,142 shares getting traded on Thursday. Post opening the session at $9.83, the shares hit an intraday low of $9.4 and an intraday high of $9.99 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, California Resources Corp reported $-1.80 EPS for the quarter, missing the analyst consensus estimate by $ -0.29 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-1.51. The company had revenue of $317.00 million for the quarter, compared to analysts expectations of $437.70 million. The company’s revenue was down -50.4 % compared to the same quarter last year.

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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