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

California Resources Co. (NYSE:CRC) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $62.71.

A number of brokerages recently weighed in on CRC. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price objective on shares of California Resources in a report on Wednesday, June 12th. Mizuho boosted their price target on shares of California Resources from $63.00 to $64.00 and gave the company a “buy” rating in a report on Monday, May 13th. Stifel Nicolaus boosted their price target on shares of California Resources from $68.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Citigroup began coverage on shares of California Resources in a report on Friday, July 19th. They issued a “buy” rating and a $63.00 price target for the company. Finally, Barclays began coverage on shares of California Resources in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $62.00 price target for the company.

California Resources Trading Up 1.5 %

Shares of CRC opened at $51.12 on Monday. California Resources has a 1-year low of $43.30 and a 1-year high of $58.44. The company has a 50-day moving average of $49.75 and a 200 day moving average of $51.59. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 0.87 and a beta of 0.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.41 and a quick ratio of 1.29.

California Resources (NYSE:CRC) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.17. California Resources had a net margin of 11.34% and a return on equity of 11.00%. The company had revenue of $454.00 million during the quarter, compared to analyst estimates of $490.21 million. During the same quarter last year, the business posted $2.63 EPS. The firm’s revenue for the quarter was down 55.7% on a year-over-year basis. On average, research analysts expect that California Resources will post 4.99 EPS for the current year.

California Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.24 annualized dividend and a dividend yield of 2.43%. California Resources’s dividend payout ratio (DPR) is presently 35.53%.

Insider Buying and Selling

In other California Resources news, Director Mark Allen Mcfarland sold 37,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $48.10, for a total transaction of $1,779,700.00. Following the sale, the director now owns 104,939 shares of the company’s stock, valued at approximately $5,047,565.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.03% of the stock is currently owned by company insiders.

Institutional Trading of California Resources

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of California Resources by 4.4% in the first quarter. Vanguard Group Inc. now owns 8,100,283 shares of the oil and gas producer’s stock worth $446,326,000 after acquiring an additional 344,043 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of California Resources by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,299,902 shares of the oil and gas producer’s stock worth $180,440,000 after acquiring an additional 190,588 shares during the period. LSV Asset Management increased its stake in shares of California Resources by 6.2% in the fourth quarter. LSV Asset Management now owns 3,125,466 shares of the oil and gas producer’s stock worth $170,900,000 after acquiring an additional 182,246 shares during the period. Pacer Advisors Inc. increased its stake in shares of California Resources by 71.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,965,476 shares of the oil and gas producer’s stock worth $107,472,000 after acquiring an additional 821,827 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of California Resources by 229.6% in the fourth quarter. Victory Capital Management Inc. now owns 885,906 shares of the oil and gas producer’s stock worth $48,441,000 after acquiring an additional 617,084 shares during the period. 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.