BlackRock Amends California Resources Stake to 12.8%
Ticker: CRC · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 1609253
| Field | Detail |
|---|---|
| Company | California Resources CORP (CRC) |
| Form Type | SC 13G/A |
| Filed Date | Jan 22, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns a huge chunk of California Resources, 12.8% as of year-end!**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 22, 2024, disclosing its ownership in California Resources Corp. As of December 31, 2023, BlackRock beneficially owned 10,237,337 shares of Common Stock, representing 12.8% of the company. This is an amendment (Amendment No. 4), indicating a change in their previously reported holdings. This matters to investors because BlackRock is a major institutional investor, and changes in their stake can signal their confidence (or lack thereof) in the company's future prospects.
Why It Matters
BlackRock's significant 12.8% stake in California Resources Corp. means they have a substantial interest in the company's performance, and their investment decisions can influence other investors.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of an institutional investor's holdings and does not indicate any immediate financial risk to the company.
Analyst Insight
Investors should note BlackRock's continued significant stake, but this filing alone doesn't provide a strong buy/sell signal. It's a data point for understanding institutional interest.
Key Numbers
- 10,237,337 — Shares Beneficially Owned (This is the total number of Common Stock shares of California Resources Corp. that BlackRock Inc. reported owning as of December 31, 2023.)
- 12.8% — Percentage of Class (This represents the percentage of California Resources Corp.'s Common Stock that BlackRock Inc. beneficially owns, indicating a significant stake.)
- 4 — Amendment Number (This filing is Amendment No. 4, meaning BlackRock has updated its ownership disclosure for California Resources Corp. four times since its initial filing.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- California Resources Corp. (company) — the subject company in which shares are held
- 10,237,337 (dollar_amount) — number of shares beneficially owned by BlackRock Inc.
- 12.8% (dollar_amount) — percentage of class beneficially owned by BlackRock Inc.
- December 31, 2023 (date) — the date of the event requiring the filing
- January 22, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will likely maintain a significant stake in California Resources Corp. throughout 2024, given their current substantial holding. (BlackRock Inc.) — medium confidence, target: December 31, 2024
FAQ
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G filing, used by institutional investors like BlackRock Inc. to report changes in their beneficial ownership of 5% or more of a company's stock, as required by the Securities Exchange Act of 1934. This specific filing is Amendment No. 4 for BlackRock's stake in California Resources Corp.
Who is the reporting person in this filing and what company are they reporting on?
The reporting person is BlackRock Inc., and they are reporting their beneficial ownership of Common Stock in California Resources Corp.
What was BlackRock Inc.'s beneficial ownership percentage in California Resources Corp. as of the event date?
As of December 31, 2023, BlackRock Inc. beneficially owned 12.8% of the Common Stock of California Resources Corp.
How many shares of Common Stock did BlackRock Inc. beneficially own in California Resources Corp.?
BlackRock Inc. beneficially owned 10,237,337 shares of Common Stock in California Resources Corp. as of December 31, 2023.
When was the event date that required this filing?
The date of the event which required this filing was December 31, 2023.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding California Resources Corp (CRC).