California Resources Co. (NYSE:CRC) Receives Average Rating of “Moderate Buy” from Brokerages

California Resources Co. (NYSE:CRC) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $67.25.

A number of research firms have weighed in on CRC. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of California Resources in a research report on Tuesday, January 14th. Capital One Financial upgraded California Resources to a “strong-buy” rating in a report on Monday, December 9th. TD Cowen lifted their price objective on California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial started coverage on California Resources in a report on Monday, January 13th. They issued a “buy” rating and a $75.00 price objective on the stock. Finally, StockNews.com upgraded California Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 16th.

California Resources Trading Down 10.7 %

NYSE CRC opened at $39.86 on Tuesday. The stock’s 50-day simple moving average is $50.02 and its two-hundred day simple moving average is $52.20. California Resources has a twelve month low of $39.17 and a twelve month high of $60.41. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 6.28, a PEG ratio of 1.02 and a beta of 1.04.

California Resources (NYSE:CRC) last released its quarterly earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.05). California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm had revenue of $877.00 million for the quarter, compared to analysts’ expectations of $901.36 million. Research analysts forecast that California Resources will post 3.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Omar Hayat sold 16,016 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $55.18, for a total value of $883,762.88. Following the sale, the executive vice president now directly owns 30,940 shares of the company’s stock, valued at $1,707,269.20. This trade represents a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.03% of the stock is owned by insiders.

Institutional Trading of California Resources

Large investors have recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in California Resources during the 3rd quarter valued at approximately $682,000. Swiss National Bank boosted its position in California Resources by 12.7% during the 3rd quarter. Swiss National Bank now owns 121,900 shares of the oil and gas producer’s stock valued at $6,396,000 after acquiring an additional 13,700 shares in the last quarter. Geode Capital Management LLC boosted its position in California Resources by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer’s stock valued at $83,583,000 after acquiring an additional 55,815 shares in the last quarter. Natixis Advisors LLC bought a new stake in California Resources during the 3rd quarter valued at approximately $579,000. Finally, State Street Corp boosted its position in California Resources by 5.1% during the 3rd quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock valued at $181,021,000 after acquiring an additional 168,278 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

About California Resources

California Resources Corporation operates as an independent oil and natural gas exploration and production, and carbon management 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.