California Resources Co. (NYSE:CRC) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

California Resources Co. (NYSE:CRC - Get Free Report) has earned an average rating of "Moderate Buy" from the thirteen ratings firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $66.92.

A number of research firms have issued reports on CRC. Capital One Financial upgraded California Resources to a "strong-buy" rating in a research report on Monday, December 9th. JPMorgan Chase & Co. started coverage on shares of California Resources in a report on Friday, December 20th. They set a "neutral" rating and a $63.00 price target for the company. Barclays dropped their price objective on shares of California Resources from $57.00 to $55.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $68.00 target price on shares of California Resources in a research report on Thursday, March 27th. Finally, Truist Financial assumed coverage on California Resources in a research report on Monday, January 13th. They issued a "buy" rating and a $75.00 price target on the stock.

Insider Transactions at California Resources

In other news, Director James N. Chapman acquired 2,000 shares of California Resources stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $39.42 per share, with a total value of $78,840.00. Following the transaction, the director now owns 43,445 shares of the company's stock, valued at approximately $1,712,601.90. This trade represents a 4.83 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.03% of the company's stock.

Institutional Trading of California Resources

A number of hedge funds have recently bought and sold shares of the business. Yousif Capital Management LLC increased its position in California Resources by 0.7% in the fourth quarter. Yousif Capital Management LLC now owns 26,924 shares of the oil and gas producer's stock worth $1,397,000 after buying an additional 196 shares during the last quarter. GAMMA Investing LLC lifted its holdings in California Resources by 22.8% during the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer's stock worth $62,000 after purchasing an additional 222 shares in the last quarter. Arizona State Retirement System boosted its stake in California Resources by 1.2% in the 4th 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 during the period. Summit Investment Advisors Inc. grew its holdings in California Resources by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,217 shares of the oil and gas producer's stock valued at $374,000 after buying an additional 228 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in California Resources by 3.5% during the 4th quarter. Mutual of America Capital Management LLC now owns 10,835 shares of the oil and gas producer's stock valued at $562,000 after buying an additional 371 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

California Resources Price Performance

Shares of California Resources stock traded down $0.44 on Friday, reaching $44.87. 88,922 shares of the stock were exchanged, compared to its average volume of 1,003,953. The firm's 50 day moving average is $46.05 and its 200-day moving average is $51.11. The firm has a market cap of $4.07 billion, a PE ratio of 7.07, a P/E/G ratio of 1.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. California Resources has a one year low of $38.02 and a one year high of $60.41.

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

California Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Monday, March 10th. California Resources's dividend payout ratio is currently 37.71%.

About California Resources

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.