California Resources Co. (NYSE:CRC) Receives $67.25 Average PT from Analysts

Shares of California Resources Co. (NYSE:CRC) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $67.25.

A number of research analysts recently weighed in on CRC shares. JPMorgan Chase & Co. assumed coverage on shares of California Resources in a research note on Friday, December 20th. They issued a “neutral” rating and a $63.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price objective on shares of California Resources in a report on Tuesday, January 14th. Jefferies Financial Group started coverage on shares of California Resources in a report on Thursday, October 24th. They set a “buy” rating and a $64.00 target price for the company. UBS Group started coverage on shares of California Resources in a research note on Wednesday, October 16th. They issued a “buy” rating and a $68.00 price target on the stock. Finally, StockNews.com upgraded shares of California Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 16th.

Insider Transactions at California Resources

In other news, EVP Omar Hayat sold 16,016 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were 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 in the company, valued at approximately $1,707,269.20. This represents a 34.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On California Resources

Several large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of California Resources by 37.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,930 shares of the oil and gas producer’s stock worth $878,000 after buying an additional 4,613 shares during the period. AlphaQuest LLC lifted its position in California Resources by 47.2% during the 4th quarter. AlphaQuest LLC now owns 14,007 shares of the oil and gas producer’s stock worth $727,000 after acquiring an additional 4,489 shares during the period. Edgestream Partners L.P. purchased a new position in shares of California Resources in the 4th quarter valued at approximately $7,884,000. Arizona State Retirement System increased its holdings in shares of California Resources by 1.2% in the fourth quarter. Arizona State Retirement System now owns 18,199 shares of the oil and gas producer’s stock valued at $944,000 after purchasing an additional 222 shares during the period. Finally, Atria Investments Inc raised its stake in shares of California Resources by 17.1% during the fourth quarter. Atria Investments Inc now owns 4,674 shares of the oil and gas producer’s stock worth $243,000 after purchasing an additional 683 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

California Resources Stock Down 2.0 %

CRC stock opened at $46.97 on Friday. California Resources has a one year low of $43.09 and a one year 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’s fifty day moving average is $52.47 and its 200 day moving average is $52.42. The firm has a market cap of $4.29 billion, a PE ratio of 7.40, a P/E/G ratio of 0.98 and a beta of 1.04.

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.