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

Shares of California Resources Co. (NYSE:CRC) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $66.09.

Several equities research analysts recently issued reports on CRC shares. Barclays raised their target price on shares of California Resources from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. Stephens started coverage on shares of California Resources in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price objective for the company. StockNews.com raised California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. UBS Group began coverage on California Resources in a research report on Wednesday, October 16th. They set a “buy” rating and a $68.00 price target for the company. Finally, Jefferies Financial Group started coverage on California Resources in a report on Thursday, October 24th. They issued a “buy” rating and a $64.00 price objective on the stock.

California Resources Stock Up 0.3 %

CRC stock opened at $52.78 on Monday. The company has a 50 day moving average price of $54.89 and a two-hundred day moving average price of $52.48. 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 stock has a market capitalization of $4.82 billion, a P/E ratio of 8.31, a PEG ratio of 1.35 and a beta of 1.05. California Resources has a one year low of $43.09 and a one year high of $60.41.

California Resources (NYSE:CRC) last released its earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 EPS for the quarter, beating the consensus estimate of $0.88 by $0.62. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $973.13 million. During the same period in the prior year, the firm posted $1.02 earnings per share. The business’s quarterly revenue was up 194.1% compared to the same quarter last year. As a group, sell-side analysts expect that California Resources will post 3.58 EPS for the current year.

California Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Monday, December 2nd. California Resources’s dividend payout ratio (DPR) is 24.41%.

Insider Buying and Selling at California Resources

In related news, VP Noelle M. Repetti sold 8,770 shares of the business’s 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 completion of the sale, the vice president now directly owns 8,531 shares of the company’s stock, valued at $475,603.25. The trade was a 50.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Omar Hayat sold 16,016 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 30,940 shares in the company, valued at $1,707,269.20. The trade was a 34.11 % decrease in their position. The disclosure for this sale can be found here. 0.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in California Resources during the third quarter worth about $682,000. Swiss National Bank raised its position in shares of 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 worth $6,396,000 after purchasing an additional 13,700 shares during the period. Natixis Advisors LLC bought a new stake in shares of California Resources in the 3rd quarter worth approximately $579,000. 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 purchasing an additional 55,815 shares during the period. Finally, State Street Corp grew its stake 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 worth $181,021,000 after buying an additional 168,278 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

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.