California Resources (NYSE:CRC) Upgraded at StockNews.com

California Resources (NYSE:CRC - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group assumed coverage on California Resources in a report on Thursday, October 24th. They issued a "buy" rating and a $64.00 price target on the stock. UBS Group began coverage on shares of California Resources in a report on Wednesday, October 16th. They issued a "buy" rating and a $68.00 price target on the stock. Bank of America raised California Resources from a "neutral" rating to a "buy" rating and increased their target price for the company from $57.00 to $65.00 in a research note on Wednesday, August 21st. Barclays upped their price objective on California Resources from $55.00 to $57.00 and gave the stock an "equal weight" rating in a report on Thursday, October 3rd. Finally, Citigroup raised their price objective on California Resources from $63.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $65.50.

California Resources Stock Performance

Shares of CRC stock traded down $1.84 during trading on Friday, reaching $56.57. 595,351 shares of the company's stock traded hands, compared to its average volume of 851,706. California Resources has a 1 year low of $43.09 and a 1 year high of $60.41. The company has a market capitalization of $3.84 billion, a P/E ratio of 8.91, a PEG ratio of 1.43 and a beta of 0.98. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average is $52.87 and its 200 day moving average is $50.87.

California Resources (NYSE:CRC - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $1.50 EPS for the quarter, beating the consensus estimate of $0.88 by $0.62. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $973.13 million. During the same quarter in the previous year, the company earned $1.02 earnings per share. California Resources's revenue for the quarter was up 194.1% on a year-over-year basis. Equities research analysts expect that California Resources will post 3.42 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Francisco Leon sold 7,500 shares of the business's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $49.18, for a total transaction of $368,850.00. Following the sale, the chief executive officer now owns 166,357 shares in the company, valued at approximately $8,181,437.26. The trade was a 4.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Noelle M. Repetti sold 10,000 shares of the 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 transaction, the vice president now owns 17,301 shares of the company's stock, valued at approximately $916,953. The trade was a 36.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,270 shares of company stock worth $1,387,778 over the last three months. Company insiders own 0.03% of the company's stock.

Institutional Trading of California Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jupiter Asset Management Ltd. purchased a new stake in shares of California Resources in the first quarter worth $4,847,000. Sei Investments Co. grew its position in California Resources by 44.7% during 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 last quarter. Interval Partners LP bought a new stake in California Resources during the 2nd quarter valued at about $2,213,000. Vest Financial LLC raised its holdings in California Resources by 38.4% in the second quarter. Vest Financial LLC now owns 470,694 shares of the oil and gas producer's stock worth $25,050,000 after buying an additional 130,526 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of California Resources in the second quarter worth approximately $729,000. Hedge funds and other institutional investors 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.