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

Shares of California Resources Co. (NYSE:CRC - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the thirteen brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $67.25.

Several research firms recently issued reports on CRC. UBS Group began coverage on California Resources in a research report on Wednesday, October 16th. They set a "buy" rating and a $68.00 price target on the stock. Jefferies Financial Group began coverage on California Resources in a research report on Thursday, October 24th. They set a "buy" rating and a $64.00 price target on the stock. JPMorgan Chase & Co. began coverage on California Resources in a research report on Friday, December 20th. They set a "neutral" rating and a $63.00 price target on the stock. Capital One Financial raised California Resources to a "strong-buy" rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $70.00 price objective on shares of California Resources in a research note on Tuesday, January 14th.

Insider Transactions at California Resources

In other news, EVP Omar Hayat sold 16,016 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total value of $883,762.88. Following the completion of the transaction, the executive vice president now owns 30,940 shares of the company's stock, valued at approximately $1,707,269.20. This represents a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.03% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. R Squared Ltd bought a new position in California Resources during the fourth quarter valued at about $31,000. GAMMA Investing LLC boosted its stake in California Resources by 61.5% during the third quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer's stock valued at $51,000 after buying an additional 371 shares in the last quarter. Smartleaf Asset Management LLC boosted 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. Nisa Investment Advisors LLC boosted 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. Finally, Point72 DIFC Ltd bought a new position in California Resources during the third quarter valued at about $70,000. Institutional investors own 97.79% of the company's stock.

California Resources Stock Performance

Shares of CRC stock traded up $1.52 on Friday, hitting $48.46. 440,888 shares of the stock traded hands, compared to its average volume of 692,865. 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 company has a market capitalization of $4.43 billion, a PE ratio of 7.63, a PEG ratio of 0.98 and a beta of 1.04. California Resources has a 1-year low of $43.09 and a 1-year high of $60.41. The company's fifty day moving average is $52.47 and its 200 day moving average is $52.42.

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.