California Resources (NYSE:CRC) Upgraded at StockNews.com

California Resources (NYSE:CRC - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Monday.

A number of other brokerages have also weighed in on CRC. Royal Bank of Canada reduced their price target on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. UBS Group boosted their price target on California Resources from $49.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Roth Capital restated a "buy" rating on shares of California Resources in a research note on Wednesday, May 7th. Citigroup lowered shares of California Resources from a "buy" rating to a "neutral" rating and cut their price objective for the company from $62.00 to $36.00 in a research report on Monday, April 7th. Finally, Barclays lifted their price target on shares of California Resources from $47.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, California Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.64.

California Resources Stock Down 1.3%

NYSE:CRC traded down $0.55 on Monday, reaching $42.61. The stock had a trading volume of 508,852 shares, compared to its average volume of 866,790. The stock has a market cap of $3.80 billion, a P/E ratio of 6.71, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. California Resources has a 12-month low of $30.97 and a 12-month 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. The company has a 50-day moving average of $39.02 and a 200 day moving average of $47.47.

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

Insider Transactions at California Resources

In other California Resources news, Director James N. Chapman acquired 2,000 shares of California Resources stock in a transaction 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 purchase, the director now owns 43,445 shares in the company, valued at $1,712,601.90. The trade was a 4.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On California Resources

A number of institutional investors have recently made changes to their positions in CRC. Entropy Technologies LP bought a new stake in shares of California Resources in the 4th quarter valued at $841,000. Bank of New York Mellon Corp boosted its holdings in California Resources by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 739,057 shares of the oil and gas producer's stock worth $38,350,000 after purchasing an additional 14,240 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of California Resources by 1.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 55,289 shares of the oil and gas producer's stock valued at $2,869,000 after acquiring an additional 649 shares in the last quarter. Empowered Funds LLC raised its stake in shares of California Resources by 84.3% during the 4th quarter. Empowered Funds LLC now owns 48,929 shares of the oil and gas producer's stock worth $2,539,000 after purchasing an additional 22,383 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in California Resources by 518.4% in the fourth quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer's stock valued at $88,000 after acquiring an additional 1,410 shares during the last quarter. 97.79% of the stock is 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.