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

California Resources Co. (NYSE:CRC) has received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $66.92.

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

California Resources Price Performance

Shares of CRC opened at $43.80 on Friday. The stock has a 50 day simple moving average of $46.42 and a 200 day simple moving average of $51.14. California Resources has a 52-week low of $38.02 and a 52-week high of $60.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The firm has a market capitalization of $3.97 billion, a PE ratio of 6.90, a P/E/G ratio of 1.02 and a beta of 1.06.

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

California Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors 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 3.54%. The ex-dividend date was Monday, March 10th. California Resources’s payout ratio is currently 37.71%.

Insiders Place Their Bets

In other California Resources news, Director James N. Chapman purchased 2,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $39.42 per share, with a total value of $78,840.00. Following the acquisition, the director now directly owns 43,445 shares of the company’s stock, valued at $1,712,601.90. This trade represents a 4.83 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of California Resources during the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC lifted its position in shares of California Resources by 331.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 812 shares during the period. Nisa Investment Advisors LLC lifted its position 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 worth $56,000 after purchasing an additional 454 shares during the period. GAMMA Investing LLC increased its holdings in California Resources by 22.8% in the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer’s stock valued at $62,000 after buying an additional 222 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of California Resources during the 3rd quarter worth approximately $70,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.