Adams Asset Advisors buys $2,212,153 stake in California Resources Corp (CRC)

California Resources Corp (CRC) : Adams Asset Advisors scooped up 37,301 additional shares in California Resources Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 196,986 shares of California Resources Corp which is valued at $2,212,153.California Resources Corp makes up approximately 0.31% of Adams Asset Advisors’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in CRC in the latest quarter, The investment management firm added 168,793 additional shares and now holds a total of 431,654 shares of California Resources Corp which is valued at $5,162,582. California Resources Corp makes up approx 0.01% of Legal General Group Plc’s portfolio. Cutler Group Lp added CRC to its portfolio by purchasing 6,639 company shares during the most recent quarter which is valued at $77,477. Oregon Public Employees Retirement Fund sold out all of its stake in CRC during the most recent quarter. The investment firm sold 31,660 shares of CRC which is valued $369,472.Bnp Paribas Arbitrage Sa reduced its stake in CRC by selling 3,343 shares or 14.9% in the most recent quarter. The Hedge Fund company now holds 19,086 shares of CRC which is valued at $227,887.

California Resources Corp opened for trading at $11.61 and hit $12.18 on the upside on Tuesday, eventually ending the session at $11.96, with a gain of 2.49% or 0.29 points. The heightened volatility saw the trading volume jump to 25,94,928 shares. Company has a market cap of $492 M.

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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