California Resources Co. (NYSE:CRC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of California Resources Co. (NYSE:CRC) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $63.67.

Several research analysts have recently issued reports on CRC shares. Mizuho dropped their target price on shares of California Resources from $69.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday. Stifel Nicolaus dropped their target price on shares of California Resources from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of California Resources in a research note on Wednesday, March 6th. Finally, Bank of America downgraded shares of California Resources from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $64.00 to $60.00 in a research note on Friday, January 5th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambria Investment Management L.P. lifted its position in California Resources by 8.5% during the third quarter. Cambria Investment Management L.P. now owns 167,856 shares of the oil and gas producer’s stock valued at $9,402,000 after purchasing an additional 13,104 shares during the period. Lazard Asset Management LLC increased its holdings in California Resources by 38.1% during the third quarter. Lazard Asset Management LLC now owns 10,616 shares of the oil and gas producer’s stock valued at $594,000 after buying an additional 2,931 shares during the last quarter. Xponance Inc. purchased a new stake in California Resources during the third quarter valued at approximately $241,000. Invesco Ltd. increased its holdings in California Resources by 16.5% during the third quarter. Invesco Ltd. now owns 696,923 shares of the oil and gas producer’s stock valued at $39,035,000 after buying an additional 98,595 shares during the last quarter. Finally, LSV Asset Management increased its holdings in California Resources by 102.0% during the third quarter. LSV Asset Management now owns 2,943,220 shares of the oil and gas producer’s stock valued at $164,850,000 after buying an additional 1,485,970 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

California Resources Trading Up 1.7 %

NYSE:CRC opened at $53.96 on Tuesday. California Resources has a one year low of $36.91 and a one year high of $58.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.51 and a quick ratio of 1.39. The company’s 50-day simple moving average is $52.12 and its 200 day simple moving average is $52.88. The firm has a market capitalization of $3.74 billion, a P/E ratio of 6.99 and a beta of 1.02.

California Resources (NYSE:CRC) last posted its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.93 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.08). The business had revenue of $726.00 million for the quarter, compared to the consensus estimate of $553.47 million. California Resources had a return on equity of 17.57% and a net margin of 20.14%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS. As a group, analysts forecast that California Resources will post 5.11 EPS for the current fiscal year.

California Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Wednesday, March 6th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.24 dividend on an annualized basis and a yield of 2.30%. California Resources’s dividend payout ratio (DPR) is 16.06%.

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.