California Resources (NYSE:CRC) Research Coverage Started at Barclays

Barclays assumed coverage on shares of California Resources (NYSE:CRC - Get Free Report) in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage set an "equal weight" rating and a $62.00 price target on the oil and gas producer's stock. Barclays's price objective would suggest a potential upside of 8.92% from the company's previous close.

Several other analysts have also recently commented on CRC. Mizuho dropped their target price on shares of California Resources from $69.00 to $63.00 and set a "buy" rating for the company in a research report on Friday, March 22nd. Bank of America cut shares of California Resources from a "buy" rating to a "neutral" rating and dropped their target price for the company from $64.00 to $60.00 in a research report on Friday, January 5th. Royal Bank of Canada reiterated an "outperform" rating and set a $70.00 target price on shares of California Resources in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus lowered their price objective on shares of California Resources from $72.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $63.43.

California Resources Trading Up 0.5 %

NYSE:CRC traded up $0.26 during trading hours on Wednesday, hitting $56.92. 824,128 shares of the stock were exchanged, compared to its average volume of 958,822. The company's 50 day moving average is $52.98 and its two-hundred day moving average is $52.71. California Resources has a twelve month low of $37.21 and a twelve month high of $58.44. The company has a quick ratio of 1.39, a current ratio of 1.51 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.91 billion, a P/E ratio of 7.37 and a beta of 1.02.

California Resources (NYSE:CRC - Get Free Report) last issued its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.93 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.08). The business had revenue of $726.00 million for the quarter, compared to the consensus estimate of $553.47 million. California Resources had a net margin of 20.14% and a return on equity of 17.57%. The business's revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 EPS. On average, sell-side analysts anticipate that California Resources will post 4.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On California Resources

Large investors have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. acquired a new position in shares of California Resources during the 1st quarter worth about $25,000. Sunbelt Securities Inc. acquired a new position in shares of California Resources during the 1st quarter worth about $29,000. Headlands Technologies LLC acquired a new position in shares of California Resources during the 3rd quarter worth about $45,000. TFO Wealth Partners LLC boosted its stake in shares of California Resources by 67,800.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,358 shares of the oil and gas producer's stock worth $74,000 after buying an additional 1,356 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of California Resources by 69.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,454 shares of the oil and gas producer's stock worth $56,000 after buying an additional 594 shares during the last quarter. Institutional investors own 97.79% of the company's stock.

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.