California Resources Co. (NYSE:CRC) Given Average Recommendation of "Moderate Buy" by Analysts

California Resources Co. (NYSE:CRC - Get Free Report) has earned an average rating of "Moderate Buy" from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $63.36.

A number of brokerages have issued reports on CRC. Royal Bank of Canada cut their target price on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Citigroup lowered California Resources from a "buy" rating to a "neutral" rating and reduced their target price for the company from $62.00 to $36.00 in a research note on Monday, April 7th. Truist Financial assumed coverage on California Resources in a research report on Monday, January 13th. They set a "buy" rating and a $75.00 price target for the company. Finally, Barclays reduced their price objective on California Resources from $57.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th.

California Resources Price Performance

Shares of NYSE:CRC opened at $34.97 on Wednesday. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 5.51, a price-to-earnings-growth ratio of 1.02 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. The business's 50 day simple moving average is $41.29 and its 200-day simple moving average is $49.13. California Resources has a 12 month low of $30.97 and a 12 month high of $60.41.

California Resources (NYSE:CRC - Get Free Report) last posted its earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.05). The firm had revenue of $877.00 million during the quarter, compared to analyst estimates of $901.36 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. As a group, equities analysts forecast that California Resources will post 3.85 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $0.3875 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.43%. California Resources's dividend payout ratio (DPR) is presently 37.71%.

Insider Activity

In other news, Director James N. Chapman bought 2,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $39.42 per share, for a total transaction of $78,840.00. Following the acquisition, the director now owns 43,445 shares of the company's stock, valued at $1,712,601.90. This trade represents a 4.83 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.03% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Yousif Capital Management LLC raised its stake in shares of California Resources by 0.7% in the 4th quarter. Yousif Capital Management LLC now owns 26,924 shares of the oil and gas producer's stock valued at $1,397,000 after acquiring an additional 196 shares during the period. GAMMA Investing LLC raised its position in California Resources by 22.8% in the fourth quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer's stock valued at $62,000 after purchasing an additional 222 shares during the period. Arizona State Retirement System lifted its stake in shares of California Resources by 1.2% during the fourth quarter. Arizona State Retirement System now owns 18,199 shares of the oil and gas producer's stock worth $944,000 after purchasing an additional 222 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of California Resources by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,217 shares of the oil and gas producer's stock worth $374,000 after buying an additional 228 shares during the period. Finally, SummerHaven Investment Management LLC grew its stake in shares of California Resources by 1.9% in the first quarter. SummerHaven Investment Management LLC now owns 15,335 shares of the oil and gas producer's stock valued at $674,000 after buying an additional 293 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

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.

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