California Resources Co. (NYSE:CRC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of California Resources Co. (NYSE:CRC) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $60.36.

Several equities analysts have weighed in on CRC shares. Wall Street Zen downgraded California Resources from a “buy” rating to a “hold” rating in a research report on Tuesday. Truist Financial raised California Resources to a “strong-buy” rating in a research report on Tuesday, May 6th. UBS Group raised their price target on California Resources from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Mizuho lowered their price objective on California Resources from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Finally, Roth Capital reaffirmed a “buy” rating on shares of California Resources in a research report on Wednesday, May 7th.

Insider Buying and Selling at California Resources

In related news, Director James N. Chapman bought 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $39.42 per share, with a total value of $78,840.00. Following the completion of the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On California Resources

Several institutional investors and hedge funds have recently modified their holdings of CRC. Larson Financial Group LLC lifted its stake in shares of California Resources by 269.4% in the first quarter. Larson Financial Group LLC now owns 639 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 466 shares in the last quarter. R Squared Ltd acquired a new stake in California Resources during the fourth quarter valued at approximately $31,000. Harbor Capital Advisors Inc. raised its stake in California Resources by 68.8% during the first quarter. Harbor Capital Advisors Inc. now owns 775 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 316 shares in the last quarter. Smartleaf Asset Management LLC raised 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 valued at $53,000 after buying an additional 812 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake 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 buying an additional 454 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

California Resources Stock Performance

California Resources stock opened at $42.25 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The stock has a fifty day moving average of $39.01 and a two-hundred day moving average of $47.14. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 6.65, 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.

California Resources (NYSE:CRC) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.24. The company had revenue of $912.00 million during 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 was up 100.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. On average, analysts anticipate that California Resources will post 3.85 EPS for the current fiscal year.

California Resources Dividend Announcement

The company also recently declared 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 3.67%. The ex-dividend date is Friday, May 30th. California Resources’s dividend payout ratio (DPR) is presently 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.