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

California Resources Co. (NYSE:CRC) has earned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $67.25.

CRC has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of California Resources in a research note on Tuesday, January 14th. JPMorgan Chase & Co. started coverage on shares of California Resources in a research report on Friday, December 20th. They issued a “neutral” rating and a $63.00 price objective on the stock. TD Cowen increased their target price on California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stephens started coverage on California Resources in a report on Tuesday, October 22nd. They issued an “overweight” rating and a $73.00 price target on the stock. Finally, UBS Group began coverage on California Resources in a report on Wednesday, October 16th. They set a “buy” rating and a $68.00 price objective for the company.

California Resources Price Performance

Shares of CRC opened at $47.90 on Friday. The stock has a market cap of $4.38 billion, a P/E ratio of 7.54, a price-to-earnings-growth ratio of 1.01 and a beta of 1.04. California Resources has a 1 year low of $43.09 and a 1 year high of $60.41. The stock’s 50-day moving average price is $52.71 and its two-hundred day moving average price is $52.42. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.

California Resources (NYSE:CRC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.62. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $973.13 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The business’s revenue for the quarter was up 194.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.02 earnings per share. On average, equities analysts predict that California Resources will post 3.85 earnings per share for the current year.

Insider Buying and Selling at California Resources

In other news, EVP Omar Hayat sold 16,016 shares of the 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 directly owns 30,940 shares of the company’s stock, valued at $1,707,269.20. This represents a 34.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On California Resources

Several hedge funds have recently bought and sold shares of CRC. Arizona State Retirement System boosted its stake in California Resources by 1.2% in the 4th quarter. Arizona State Retirement System now owns 18,199 shares of the oil and gas producer’s stock valued at $944,000 after purchasing an additional 222 shares during the period. Atria Investments Inc boosted its position in shares of California Resources by 17.1% in the fourth quarter. Atria Investments Inc now owns 4,674 shares of the oil and gas producer’s stock valued at $243,000 after acquiring an additional 683 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of California Resources by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,031,816 shares of the oil and gas producer’s stock valued at $53,541,000 after acquiring an additional 57,614 shares in the last quarter. Smartleaf Asset Management LLC increased its position in California Resources by 331.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer’s stock worth $53,000 after acquiring an additional 812 shares during the period. Finally, Mutual of America Capital Management LLC raised its stake in California Resources by 3.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 10,835 shares of the oil and gas producer’s stock worth $562,000 after purchasing an additional 371 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.