Florida-based Kore Advisors purchased 75,141 shares of California Resources Corporation worth $4 million in Q3, representing 4.6% of AUM. Top holdings include NYSE:UP, NYSE:GEO, NYSE:CRGY, NYSE:WOLF, and NYSE:AR. CRC shares were priced at $44.04, down 14.5% in the past year.

Kore Advisors LP disclosed a new stake in California Resources Corporation, holding 75,141 shares valued at $4 million. This new position accounts for 4.6% of the fund’s $87.48 million in U.S. equity holdings and brings its total reportable positions to 13.

California Resources Corporation is a leading energy company in California, focusing on oil and gas exploration and production. It operates an integrated model, serving various sectors with energy commodities and power generation. CRC generated $279 million in operating cash flow and $188 million in free cash flow in Q3.

As of Wednesday, shares of California Resources Corporation traded at $44.04, down 14.5% in the past year. The company produces and sells energy commodities, serving various customers in California with access to transportation and storage infrastructure. CRC prioritizes free cash flow, dividends, and debt reduction for long-term investor value.

Read more at Yahoo Finance: Why One Florida Fund Opened a $4 Million Bet on California Resources Despite a 15% Stock Slide