California Resources Corporation (NYSE:CRC) Given Consensus Recommendation of “Moderate Buy” by Analysts

California Resources Corporation (NYSE:CRC) has been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, nine have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $63.90.

CRC has been the subject of several research analyst reports. UBS Group set a $63.00 price target on shares of California Resources and gave the stock a “buy” rating in a report on Monday, January 26th. Weiss Ratings restated a “hold (c)” rating on shares of California Resources in a research report on Wednesday, January 21st. Wells Fargo & Company reiterated an “overweight” rating and issued a $56.00 target price (down from $58.00) on shares of California Resources in a research report on Tuesday, December 9th. Barclays set a $65.00 price target on California Resources and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Finally, Pickering Energy Partners downgraded California Resources from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th.

Institutional Trading of California Resources

Institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new position in California Resources during the 4th quarter worth $26,000. Clearstead Advisors LLC increased its stake in shares of California Resources by 82.5% in the third quarter. Clearstead Advisors LLC now owns 500 shares of the oil and gas producer’s stock valued at $27,000 after buying an additional 226 shares during the period. Pinnacle Holdings LLC acquired a new stake in shares of California Resources in the fourth quarter valued at about $27,000. Salomon & Ludwin LLC bought a new position in shares of California Resources during the third quarter worth about $29,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of California Resources in the second quarter worth approximately $35,000. Institutional investors own 97.79% of the company’s stock.

California Resources Price Performance

CRC stock opened at $56.95 on Tuesday. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 13.24 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.89 and a quick ratio of 0.78. The company has a 50 day simple moving average of $48.67 and a 200 day simple moving average of $49.20. California Resources has a 1 year low of $30.97 and a 1 year high of $58.41.

About California Resources

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.