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

Shares of California Resources Co. (NYSE:CRC) have been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $67.25.

Several equities analysts have commented on CRC shares. UBS Group began coverage on California Resources in a report on Wednesday, October 16th. They set a “buy” rating and a $68.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of California Resources in a report on Tuesday. Jefferies Financial Group started coverage on shares of California Resources in a report on Thursday, October 24th. They set a “buy” rating and a $64.00 price target for the company. Capital One Financial upgraded California Resources to a “strong-buy” rating in a research note on Monday, December 9th. Finally, TD Cowen increased their target price on California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th.

Insider Activity

In other news, EVP Omar Hayat sold 16,016 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $55.18, for a total value of $883,762.88. Following the transaction, the executive vice president now owns 30,940 shares of the company’s stock, valued at approximately $1,707,269.20. This trade represents a 34.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Noelle M. Repetti sold 8,770 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.75, for a total transaction of $488,927.50. Following the sale, the vice president now directly owns 8,531 shares of the company’s stock, valued at approximately $475,603.25. This trade represents a 50.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On California Resources

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in California Resources by 61.5% in the third quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 371 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of California Resources by 71.6% in 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 buying an additional 454 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in California Resources during the 3rd quarter worth $70,000. KBC Group NV lifted its holdings in California Resources by 29.1% during the third quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock worth $100,000 after acquiring an additional 431 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in California Resources by 9.4% in the third quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock valued at $169,000 after acquiring an additional 276 shares during the period. 97.79% of the stock is owned by institutional investors.

California Resources Trading Down 0.6 %

NYSE CRC opened at $53.65 on Monday. California Resources has a 1-year low of $43.09 and a 1-year high of $60.41. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $4.90 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05. The firm’s fifty day simple moving average is $54.75 and its 200-day simple moving average is $52.52.

California Resources (NYSE:CRC) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.62. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $973.13 million. During the same period in the prior year, the business posted $1.02 earnings per share. California Resources’s revenue for the quarter was up 194.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that California Resources will post 3.66 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Monday, December 2nd. California Resources’s dividend payout ratio (DPR) is currently 24.41%.

California Resources Company Profile

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.