California Resources (NYSE:CRC) Reaches New 1-Year Low - Time to Sell?

Shares of California Resources Co. (NYSE:CRC - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $41.50 and last traded at $51.37, with a volume of 146 shares trading hands. The stock had previously closed at $51.09.

Analyst Ratings Changes

A number of equities analysts have issued reports on CRC shares. Stephens initiated coverage on shares of California Resources in a research report on Tuesday, October 22nd. They set an "overweight" rating and a $73.00 price target for the company. Truist Financial started coverage on California Resources in a research note on Monday, January 13th. They set a "buy" rating and a $75.00 price objective for the company. Jefferies Financial Group began coverage on California Resources in a report on Thursday, October 24th. They set a "buy" rating and a $64.00 target price on the stock. Barclays boosted their price target on California Resources from $55.00 to $57.00 and gave the company an "equal weight" rating in a report on Thursday, October 3rd. Finally, StockNews.com raised shares of California Resources from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Three 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.25.

California Resources Stock Down 3.9 %

The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 7.72, a price-to-earnings-growth ratio of 1.04 and a beta of 1.05. The business's 50-day moving average is $53.74 and its two-hundred day moving average is $52.55.

California Resources (NYSE:CRC - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.62. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $973.13 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The business's revenue for the quarter was up 194.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 EPS. Equities analysts anticipate that California Resources Co. will post 3.85 EPS for the current year.

California Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.3875 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.55 annualized dividend and a dividend yield of 3.16%. California Resources's dividend payout ratio is presently 24.41%.

Insider Activity

In other news, EVP Omar Hayat sold 16,016 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $55.18, for a total value of $883,762.88. Following the transaction, the executive vice president now owns 30,940 shares in the company, valued at approximately $1,707,269.20. This represents a 34.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Noelle M. Repetti sold 8,770 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total transaction of $488,927.50. Following the completion of the transaction, the vice president now owns 8,531 shares of the company's stock, valued at approximately $475,603.25. The trade was a 50.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.03% of the company's stock.

Hedge Funds Weigh In On California Resources

Several large investors have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of California Resources in the fourth quarter valued at approximately $31,000. GAMMA Investing LLC boosted its holdings in shares of California Resources by 61.5% in the third quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer's stock valued at $51,000 after acquiring an additional 371 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in California Resources by 71.6% in 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 purchasing an additional 454 shares during the period. Point72 DIFC Ltd purchased a new stake in California Resources in the 3rd quarter valued at approximately $70,000. Finally, Blue Trust Inc. increased its position in California Resources by 518.4% during the 4th quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer's stock worth $88,000 after purchasing an additional 1,410 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.

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.