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

California Resources Co. (NYSE:CRC - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $65.50.

A number of equities analysts have recently commented on CRC shares. Citigroup raised their price objective on shares of California Resources from $63.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, September 5th. UBS Group initiated coverage on California Resources in a report on Wednesday, October 16th. They set a "buy" rating and a $68.00 price objective on the stock. Jefferies Financial Group assumed coverage on California Resources in a research note on Thursday, October 24th. They issued a "buy" rating and a $64.00 price objective on the stock. Barclays raised their target price on California Resources from $55.00 to $57.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $65.00 price objective on shares of California Resources in a research note on Monday, August 12th.

Insider Activity

In other California Resources news, VP Noelle M. Repetti sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.00, for a total transaction of $530,000.00. Following the completion of the sale, the vice president now directly owns 17,301 shares of the company's stock, valued at approximately $916,953. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Christian S. Kendall acquired 20,895 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of $47.97 per share, with a total value of $1,002,333.15. Following the completion of the purchase, the director now directly owns 24,600 shares in the company, valued at approximately $1,180,062. This trade represents a 500.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Noelle M. Repetti sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.00, for a total value of $530,000.00. Following the completion of the sale, the vice president now owns 17,301 shares of the company's stock, valued at $916,953. This represents a 0.00 % 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

Institutional investors have recently modified their holdings of the stock. Jupiter Asset Management Ltd. acquired a new stake in California Resources during the 1st quarter worth $4,847,000. Sei Investments Co. grew its position in shares of California Resources by 44.7% in the 1st quarter. Sei Investments Co. now owns 71,693 shares of the oil and gas producer's stock valued at $3,950,000 after purchasing an additional 22,150 shares during the period. SG Americas Securities LLC increased its stake in California Resources by 497.6% during the 1st quarter. SG Americas Securities LLC now owns 30,945 shares of the oil and gas producer's stock worth $1,705,000 after purchasing an additional 25,767 shares in the last quarter. Interval Partners LP bought a new position in California Resources in the second quarter valued at approximately $2,213,000. Finally, Empowered Funds LLC boosted its holdings in shares of California Resources by 879.4% in the first quarter. Empowered Funds LLC now owns 143,051 shares of the oil and gas producer's stock valued at $7,882,000 after buying an additional 128,445 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

California Resources Stock Performance

Shares of NYSE:CRC traded up $0.25 on Wednesday, hitting $52.34. 418,815 shares of the company were exchanged, compared to its average volume of 855,617. The company's 50 day moving average price is $51.72 and its two-hundred day moving average price is $50.74. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.27 and a beta of 0.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.43. California Resources has a one year low of $43.09 and a one year high of $57.88.

California Resources (NYSE:CRC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.96 by ($0.36). California Resources had a return on equity of 11.27% and a net margin of 7.61%. The firm had revenue of $514.00 million during the quarter, compared to the consensus estimate of $477.07 million. During the same quarter in the prior year, the business posted $0.53 EPS. California Resources's revenue was down 13.0% compared to the same quarter last year. Research analysts expect that California Resources will post 3.45 earnings per share for the current year.

California Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.3875 per share. This is an increase from California Resources's previous quarterly dividend of $0.31. The ex-dividend date was Friday, August 30th. This represents a $1.55 annualized dividend and a yield of 2.96%. California Resources's dividend payout ratio is currently 44.41%.

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.