Shares of California Resources Corp (NYSE:CRC) have been assigned a consensus rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $18.00.

A number of research firms have weighed in on CRC. Morgan Stanley upped their price objective on shares of California Resources from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Societe Generale cut shares of California Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Imperial Capital began coverage on shares of California Resources in a research report on Tuesday, October 3rd. They issued an “in-line” rating and a $12.00 price objective for the company. Bank of America raised shares of California Resources from an “underperform” rating to a “neutral” rating and set a $24.00 price objective for the company in a research report on Thursday, January 4th. Finally, ValuEngine raised shares of California Resources from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th.

California Resources (NYSE CRC) opened at $20.69 on Thursday. The company has a debt-to-equity ratio of -8.78, a current ratio of 0.61 and a quick ratio of 0.53. The firm has a market cap of $886.94, a PE ratio of -4.14 and a beta of 6.63. California Resources has a 12-month low of $6.47 and a 12-month high of $23.42.

California Resources (NYSE:CRC) last posted its quarterly earnings data on Monday, November 6th. The oil and gas producer reported ($1.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.61) by $0.39. The firm had revenue of $455.00 million during the quarter, compared to analysts’ expectations of $476.87 million. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company earned ($1.75) earnings per share. equities research analysts predict that California Resources will post -4.65 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. State Street Corp raised its stake in shares of California Resources by 23.1% in the 2nd quarter. State Street Corp now owns 3,588,170 shares of the oil and gas producer’s stock valued at $30,673,000 after purchasing an additional 672,825 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of California Resources by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,848,193 shares of the oil and gas producer’s stock valued at $15,803,000 after purchasing an additional 84,072 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of California Resources by 2.9% in the 3rd quarter. Mackenzie Financial Corp now owns 1,742,000 shares of the oil and gas producer’s stock valued at $18,221,000 after purchasing an additional 49,500 shares in the last quarter. Restructuring Capital Associates LP raised its stake in shares of California Resources by 39.5% in the 3rd quarter. Restructuring Capital Associates LP now owns 1,730,838 shares of the oil and gas producer’s stock valued at $18,105,000 after purchasing an additional 490,408 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of California Resources by 193.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,103,278 shares of the oil and gas producer’s stock valued at $9,434,000 after purchasing an additional 727,264 shares in the last quarter. 75.22% of the stock is owned by institutional investors.

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California Resources Company Profile

California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produced approximately 140 thousand barrels of oil equivalent per day (MBoe/d), as of December 31, 2016. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe).

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