California Resources Corp (NYSE:CRC) was the recipient of unusually large options trading on Thursday. Traders acquired 4,859 put options on the stock. This represents an increase of approximately 956% compared to the typical volume of 460 put options.

Shares of California Resources (NYSE CRC) opened at $17.87 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.61 and a debt-to-equity ratio of -8.78. California Resources has a 52 week low of $6.47 and a 52 week high of $25.06. The firm has a market capitalization of $767.77, a P/E ratio of -3.68 and a beta of 6.16.

Several equities research analysts recently weighed in on the company. Societe Generale upgraded California Resources from a “hold” rating to a “buy” rating and boosted their target price for the stock from $17.91 to $25.00 in a research note on Friday. Goldman Sachs Group upgraded California Resources from a “sell” rating to a “neutral” rating and set a $27.50 target price for the company in a research note on Thursday, February 1st. Zacks Investment Research cut California Resources from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Bank of America upgraded California Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 16th. Finally, Imperial Capital boosted their price objective on California Resources from $12.00 to $18.00 and gave the company an “in-line” rating in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. California Resources presently has an average rating of “Hold” and an average price target of $22.08.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its stake in California Resources by 5.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 13,620 shares of the oil and gas producer’s stock valued at $116,000 after buying an additional 743 shares during the last quarter. BlueCrest Capital Management Ltd lifted its stake in California Resources by 17.5% in the second quarter. BlueCrest Capital Management Ltd now owns 16,808 shares of the oil and gas producer’s stock valued at $144,000 after buying an additional 2,509 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in California Resources by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 153,318 shares of the oil and gas producer’s stock valued at $1,604,000 after buying an additional 3,079 shares during the last quarter. Barnett & Company Inc. lifted its stake in California Resources by 306.9% in the fourth quarter. Barnett & Company Inc. now owns 5,701 shares of the oil and gas producer’s stock valued at $111,000 after buying an additional 4,300 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in California Resources by 7.7% in the third quarter. Rhumbline Advisers now owns 64,748 shares of the oil and gas producer’s stock valued at $677,000 after buying an additional 4,625 shares during the last quarter. Institutional investors own 74.41% of the company’s stock.

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California Resources Company Profile

California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produced approximately 140 thousand barrels of oil equivalent per day (MBoe/d), as of December 31, 2016. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe).

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