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

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

CRC has been the subject of a number of recent analyst reports. TD Cowen upped their target price on California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Jefferies Financial Group started coverage on shares of California Resources in a research report on Thursday, October 24th. They set a “buy” rating and a $64.00 price objective for the company. Capital One Financial raised shares of California Resources to a “strong-buy” rating in a report on Monday, December 9th. Stephens began coverage on shares of California Resources in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price target on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of California Resources in a research report on Friday, December 20th. They set a “neutral” rating and a $63.00 price objective for the company.

Insider Activity at California Resources

In related news, EVP Omar Hayat sold 16,016 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total value of $883,762.88. Following the completion of the sale, the executive vice president now directly owns 30,940 shares in the company, valued at $1,707,269.20. This represents a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Noelle M. Repetti sold 8,770 shares of California Resources stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.75, for a total value of $488,927.50. Following the transaction, the vice president now directly owns 8,531 shares in the company, valued at $475,603.25. The trade was 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 owned by company insiders.

Institutional Trading of California Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in shares of California Resources by 8.9% in the 2nd quarter. Arizona State Retirement System now owns 15,400 shares of the oil and gas producer’s stock valued at $820,000 after purchasing an additional 1,256 shares during the last quarter. American Century Companies Inc. grew its holdings in California Resources by 18.1% during the 2nd quarter. American Century Companies Inc. now owns 1,631,432 shares of the oil and gas producer’s stock worth $86,825,000 after acquiring an additional 250,367 shares during the period. WINTON GROUP Ltd raised its position in shares of California Resources by 9.4% in the 2nd quarter. WINTON GROUP Ltd now owns 20,109 shares of the oil and gas producer’s stock worth $1,070,000 after acquiring an additional 1,731 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of California Resources by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,576,306 shares of the oil and gas producer’s stock valued at $190,328,000 after purchasing an additional 165,629 shares during the period. Finally, DRW Securities LLC boosted its position in shares of California Resources by 356.3% during the 2nd quarter. DRW Securities LLC now owns 19,200 shares of the oil and gas producer’s stock valued at $1,022,000 after purchasing an additional 26,692 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

California Resources Trading Down 0.6 %

CRC stock opened at $53.65 on Monday. California Resources has a 52 week low of $43.09 and a 52 week high of $60.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The company’s 50-day simple moving average is $54.75 and its 200 day simple moving average is $52.52. 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.

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

California Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend 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.