Five Very Cheap Energy Stocks That Hedge Funds Are Piling On

1. California Resources Corp (NYSE:CRC)

Investors with Long Positions (as of June 30): 37

Aggregate Value of Investors’ Holdings (as of June 30): $703.87 Million

California Resources Corp (NYSE:CRC) received some attention from the hedge funds observed by our team during the second quarter, as the number of investment firms with long positions in the stock increased by six quarter-over-quarter. These hedge funds owned 30.20% of the company’s outstanding shares on June 30. California Resources is doing way greater in terms of stock performance at the beginning of the fourth quarter compared to the third quarter (the stock lost 56%), with its shares advancing 53% since the beginning of October. The company will reveal its financial results for the third quarter on November 5 after the market close, so current and potential insiders will get the chance to assess the potential of its operations and activities. Mason Hawkins’ Southeastern Asset Management trimmed its stake in California Resources Corp (NYSE:CRC) by half during the second quarter, ending it with 13.54 million shares.

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