California Resources Co. (NYSE:CRC) Receives $59.64 Consensus PT from Analysts

Shares of California Resources Co. (NYSE:CRC - Get Free Report) have earned an average rating of "Moderate Buy" from the thirteen ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $60.36.

Several equities analysts have weighed in on CRC shares. Barclays lifted their target price on California Resources from $47.00 to $50.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Bank of America lowered their price target on shares of California Resources from $64.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. UBS Group increased their price objective on California Resources from $49.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Mizuho lowered their target price on California Resources from $64.00 to $60.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Citigroup upped their target price on California Resources from $36.00 to $44.00 and gave the stock a "neutral" rating in a research report on Monday.

Insider Activity

In related news, Director James N. Chapman acquired 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $39.42 per share, for a total transaction of $78,840.00. Following the completion of the purchase, the director now owns 43,445 shares in the company, valued at approximately $1,712,601.90. The trade was a 4.83% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.03% of the stock is currently owned by company insiders.

Institutional Trading of California Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of California Resources in the fourth quarter valued at about $31,000. Larson Financial Group LLC increased its position in shares of California Resources by 269.4% during the first quarter. Larson Financial Group LLC now owns 639 shares of the oil and gas producer's stock valued at $28,000 after purchasing an additional 466 shares during the period. Harbor Capital Advisors Inc. lifted its position in California Resources by 68.8% in the first quarter. Harbor Capital Advisors Inc. now owns 775 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 316 shares during the period. Smartleaf Asset Management LLC boosted its stake 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 buying an additional 812 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in 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 during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

California Resources Stock Down 2.2%

NYSE:CRC traded down $0.95 during trading hours on Friday, hitting $42.42. 930,250 shares of the stock traded hands, compared to its average volume of 870,764. The firm has a 50 day moving average price of $39.05 and a 200 day moving average price of $47.25. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 6.68, a PEG ratio of 1.02 and a beta of 1.06. California Resources has a fifty-two week low of $30.97 and a fifty-two week 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.

California Resources (NYSE:CRC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.24. The business had revenue of $912.00 million for the quarter, compared to the consensus estimate of $862.14 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. California Resources's revenue for the quarter was up 100.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. Equities research analysts anticipate that California Resources will post 3.85 earnings per share for the current year.

California Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Friday, May 30th. California Resources's dividend payout ratio is 28.13%.

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.