Assenagon buys 36,760 California Resources shares: what it means for California Resources stock

Published on 10/25/2026 at 03:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached USD 1.30 billion, up 33.00 percent year over year. For California Resources stock, earnings per share were USD 0.99.

Institutional interest meets analyst caution

Assenagon Asset Management disclosed a 36,760-share California Resources stake on October 22, 2026.
UBS cut its target from USD 73.00 to USD 68.00 on October 12, 2026.
Second-quarter revenue reached USD 1.30 billion on August 10, 2026, up 33.00 percent year over year.

CRC, US13057Q3056, Illustration mit AI erstellt.

Assenagon Asset Management bought 36,760 shares of California Resources on October 22, 2026, worth USD 1.87 million, according to MarketBeat. The filing adds an institutional ownership signal after a difficult earnings comparison and several target-price changes.

Why did the stake draw attention?

California Resources reported USD 1.30 billion in second-quarter revenue for the period ended June 30, 2026, up 33.00 percent from USD 821.00 million a year earlier. Adjusted earnings per share were USD 0.99, below the USD 1.36 consensus estimate, according to MarketBeat.

Three dates define the setup

On August 10, 2026, California Resources reported its second-quarter results, including USD 1.30 billion of revenue and USD 0.99 of earnings per share, as MarketBeat reported. On October 12, 2026, Markets Insider reported that UBS cut its price target from USD 73.00 to USD 68.00 while keeping a Buy rating. On October 22, 2026, Assenagon disclosed its new 36,760-share position, according to MarketBeat.

What does the stake mean?

The purchase does not erase the earnings tension: revenue grew 33.00 percent year over year, but adjusted earnings per share missed consensus by USD 0.37. The analyst picture is similarly mixed in direction, with UBS retaining its Buy rating while reducing its target by USD 5.00, according to Markets Insider. For investors, the key distinction is between stronger sales and weaker earnings delivery.

Institutional ownership shapes the picture

California Resources had a market capitalization of USD 4.75 billion on October 22, 2026, while institutional investors and hedge funds owned 97.79 percent, according to MarketBeat. The further course of trading is shown by the continuously updated real-time quote of California Resources stock.