California Resources (NYSE:CRC) Price Target Increased to $72.00 by Analysts at Stifel Nicolaus

California Resources (NYSE:CRCGet Free Report) had its price target upped by research analysts at Stifel Nicolaus from $68.00 to $72.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 37.80% from the company’s current price.

Several other research analysts have also issued reports on the stock. Mizuho lifted their price target on shares of California Resources from $63.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America cut California Resources from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $64.00 to $60.00 in a research note on Friday, January 5th. Finally, Royal Bank of Canada lifted their price objective on shares of California Resources from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.33.

Check Out Our Latest Analysis on CRC

California Resources Price Performance

Shares of California Resources stock opened at $52.25 on Monday. California Resources has a 52 week low of $34.02 and a 52 week high of $58.44. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.59 billion, a PE ratio of 8.39 and a beta of 1.01. The company’s 50-day moving average price is $51.54 and its two-hundred day moving average price is $53.18.

Hedge Funds Weigh In On California Resources

A number of large investors have recently made changes to their positions in the business. Quadrant Capital Group LLC acquired a new position in shares of California Resources in the second quarter worth $29,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of California Resources in the first quarter worth $25,000. Sunbelt Securities Inc. acquired a new position in California Resources in the first quarter worth approximately $29,000. Headlands Technologies LLC acquired a new position in California Resources in the third quarter worth approximately $45,000. Finally, Captrust Financial Advisors increased its holdings in California Resources by 69.1% in the second quarter. Captrust Financial Advisors now owns 1,454 shares of the oil and gas producer’s stock worth $56,000 after buying an additional 594 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

California Resources Company Profile

(Get Free Report)

California Resources Corporation operates as an independent oil and natural gas exploration and production company in the United States. The company explores, produces, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities.

Further Reading

Analyst Recommendations for California Resources (NYSE:CRC)

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