California Resources Co. (NYSE:CRC) Receives $67.25 Consensus PT from Analysts

California Resources Co. (NYSE:CRC) has been given an average rating of “Moderate Buy” by the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. Two research 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 1-year price target among brokerages that have updated their coverage on the stock in the last year is $67.08.

A number of analysts have recently commented on CRC shares. Truist Financial began coverage on California Resources in a research note on Monday, January 13th. They issued a “buy” rating and a $75.00 price objective on the stock. Capital One Financial upgraded shares of California Resources to a “strong-buy” rating in a research report on Monday, December 9th. StockNews.com upgraded shares of California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Barclays dropped their target price on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of California Resources in a report on Tuesday, January 14th.

Insider Activity

In other California Resources news, Director James N. Chapman purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $39.42 per share, with a total value of $78,840.00. Following the completion of the transaction, the director now owns 43,445 shares of the company’s stock, valued at approximately $1,712,601.90. This represents a 4.83 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Omar Hayat sold 16,016 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was 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 of the company’s stock, valued at $1,707,269.20. The trade was a 34.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.03% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CRC. R Squared Ltd acquired a new stake in shares of California Resources during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC raised its holdings in shares of 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 in the last quarter. Nisa Investment Advisors LLC boosted its position in California Resources by 71.6% during the fourth 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 grew its stake in California Resources by 22.8% in the fourth 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 in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in California Resources in the 3rd quarter worth about $70,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

California Resources Stock Performance

Shares of CRC opened at $41.58 on Tuesday. California Resources has a 52-week low of $38.02 and a 52-week high of $60.41. The firm has a market capitalization of $3.77 billion, a PE ratio of 6.55, a P/E/G ratio of 1.02 and a beta of 1.06. The firm has a 50-day moving average price of $48.99 and a 200 day moving average price of $51.85. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32.

California Resources (NYSE:CRC) last posted its quarterly earnings data 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). The company had revenue of $877.00 million for the quarter, compared to analyst estimates of $901.36 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. On average, sell-side analysts anticipate that California Resources will post 3.85 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 3.73%. The ex-dividend date is Monday, March 10th. California Resources’s dividend payout ratio (DPR) is currently 37.71%.

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.