It Seems California Resources Corporation (NYSE:CRC) Will Go Down. Just Reported More Shorted Shares

September 17, 2017 - By Winifred Garcia

 It Seems California Resources Corporation (NYSE:CRC) Will Go Down. Just Reported More Shorted Shares

Investors sentiment decreased to 0 in 2016 Q4. Its down 0.12, from 0.12 in 2016Q3. It dropped, as 1 investors sold California Resources Corp shares while 3 reduced holdings. 0 funds opened positions while 0 raised stakes. 197,290 shares or 0.10% less from 197,493 shares in 2016Q3 were reported.
106 were reported by West Oak Capital Limited Company. Cypress Mngmt Lc (Wy) stated it has 4 shares. American Rech And invested 0% of its portfolio in California Resources Corp (NYSE:CRC). Gemmer Asset Mngmt Lc has invested 0% in California Resources Corp (NYSE:CRC). Lenox Wealth Mgmt holds 0% in California Resources Corp (NYSE:CRC) or 2 shares. Mercer Capital Advisers Inc, a New Jersey-based fund reported 102 shares. America First Inv Advsr Limited Liability has invested 0% in California Resources Corp (NYSE:CRC). Vantage Investment Limited Liability Com owns 22 shares. Burt Wealth invested in 0% or 3 shares. Messner Smith Theme Value Inv Management Limited Ca holds 0% or 2 shares in its portfolio. Adams Asset Advsrs Limited Liability owns 196,986 shares.

The stock of California Resources Corporation (NYSE:CRC) registered an increase of 4.54% in short interest. CRC’s total short interest was 17.41M shares in September as published by FINRA. Its up 4.54% from 16.66M shares, reported previously. With 1.19M shares average volume, it will take short sellers 15 days to cover their CRC’s short positions. The short interest to California Resources Corporation’s float is 45.29%.

The stock increased 1.07% or $0.09 on September 15, reaching $8.51. About 2.59M shares traded or 85.00% up from the average. California Resources Corp (NYSE:CRC) has declined 15.53% since September 17, 2016 and is downtrending. It has underperformed by 32.23% the S&P500.

California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The company has market cap of $364.00 million. The Firm produced approximately 140 thousand barrels of oil equivalent per day , as of December 31, 2016. It has a 0.76 P/E ratio. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe).

California Resources Corp (NYSE:CRC) Ratings Coverage

Among 6 analysts covering California Resources Corporation (NYSE:CRC), 2 have Buy rating, 1 Sell and 3 Hold. Therefore 33% are positive. California Resources Corporation had 12 analyst reports since August 24, 2015 according to SRatingsIntel. The firm has “Buy” rating by Ladenburg Thalmann given on Monday, November 23. The stock of California Resources Corp (NYSE:CRC) has “Underperform” rating given on Friday, June 30 by Bank of America. On Tuesday, November 22 the stock rating was upgraded by Morgan Stanley to “Equal-Weight”. The stock of California Resources Corp (NYSE:CRC) has “Hold” rating given on Wednesday, March 2 by Societe Generale. Susquehanna maintained California Resources Corp (NYSE:CRC) on Tuesday, January 26 with “Neutral” rating. Susquehanna initiated the stock with “Neutral” rating in Friday, October 30 report. The firm has “Accumulate” rating by Johnson Rice given on Friday, September 25. On Tuesday, February 23 the stock rating was downgraded by Bank of America to “Neutral”.

Another recent and important California Resources Corp (NYSE:CRC) news was published by Seekingalpha.com which published an article titled: “We Bought More California Resources – Here’s Why” on August 24, 2017.

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