California Resources Corporation (NYSE:CRC) Can’t Be More Risky. Short Interest Increased

September 17, 2017 - By Linda Rogers

 California Resources Corporation (NYSE:CRC) Can't Be More Risky. Short Interest Increased

Investors sentiment decreased to 0 in 2016 Q4. Its down 0.12, from 0.12 in 2016Q3. It fall, 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.
Moreover, Cypress Cap Management Limited Liability (Wy) has 0% invested in California Resources Corp (NYSE:CRC) for 4 shares. Messner Smith Theme Value Inv Management Ltd Ca has invested 0% in California Resources Corp (NYSE:CRC). West Oak Cap Lc reported 0% stake. Vantage Advsr Ltd Liability Com owns 22 shares. Burt Wealth Advisors invested in 0% or 3 shares. Adams Asset Advsr Llc owns 196,986 shares or 0.55% of their US portfolio. Lenox Wealth Mgmt reported 2 shares stake. 8 are held by America First Investment Advsrs Llc. Mercer Capital Advisers reported 0% in California Resources Corp (NYSE:CRC). The Massachusetts-based & Mngmt has invested 0% in California Resources Corp (NYSE:CRC). Gemmer Asset Lc stated it has 0% in California Resources Corp (NYSE:CRC).

The stock of California Resources Corporation (NYSE:CRC) registered an increase of 4.54% in short interest. CRC’s total short interest was 17.41 million shares in September as published by FINRA. Its up 4.54% from 16.66 million 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. As per Friday, September 25, the company rating was initiated by Johnson Rice. Ladenburg Thalmann initiated the stock with “Buy” rating in Monday, November 23 report. The firm has “Neutral” rating by Bank of America given on Tuesday, February 23. Bank of America downgraded the shares of CRC in report on Friday, June 30 to “Underperform” rating. The firm has “Equal-Weight” rating by Morgan Stanley given on Tuesday, November 22. The stock has “Neutral” rating by Susquehanna on Friday, October 30. The firm earned “Hold” rating on Wednesday, March 2 by Societe Generale. The stock of California Resources Corp (NYSE:CRC) has “Neutral” rating given on Tuesday, January 26 by Susquehanna.

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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