California Resources Co. (NYSE:CRC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of California Resources Co. (NYSE:CRC) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $67.25.

A number of brokerages have recently commented on CRC. JPMorgan Chase & Co. initiated coverage on California Resources in a research report on Friday, December 20th. They issued a “neutral” rating and a $63.00 price target on the stock. Truist Financial initiated coverage on shares of California Resources in a report on Monday, January 13th. They issued a “buy” rating and a $75.00 price objective for the company. StockNews.com upgraded shares of California Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. TD Cowen boosted their price objective on shares of California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Capital One Financial upgraded shares of California Resources to a “strong-buy” rating in a report on Monday, December 9th.

Insider Buying and Selling

In related news, EVP Omar Hayat sold 16,016 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $55.18, for a total value of $883,762.88. Following the completion of the transaction, the executive vice president now owns 30,940 shares of the company’s stock, valued at approximately $1,707,269.20. This represents a 34.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRC. R Squared Ltd bought a new position in California Resources in the 4th quarter worth $31,000. Smartleaf Asset Management LLC boosted its holdings in shares of California Resources by 331.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 812 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of California Resources by 71.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer’s stock valued at $56,000 after purchasing an additional 454 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of California Resources by 22.8% during the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer’s stock valued at $62,000 after purchasing an additional 222 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of California Resources during the 3rd quarter valued at about $70,000. Institutional investors own 97.79% of the company’s stock.

California Resources Stock Performance

Shares of CRC opened at $39.86 on Tuesday. 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 business’s 50 day moving average price is $50.02 and its 200-day moving average price is $52.20. California Resources has a 52 week low of $39.17 and a 52 week high of $60.41. The stock has a market cap of $3.64 billion, a P/E ratio of 6.28, a P/E/G ratio of 1.02 and a beta of 1.04.

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

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.