California Resources Corporation (NYSE:CRC) Given Average Rating of “Moderate Buy” by Analysts

California Resources Corporation (NYSE:CRC) has been given an average rating of “Moderate Buy” by the fifteen research firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $63.90.

A number of research firms recently issued reports on CRC. Wells Fargo & Company reissued an “overweight” rating and issued a $56.00 price objective (down previously from $58.00) on shares of California Resources in a report on Tuesday, December 9th. Pickering Energy Partners lowered California Resources from an “outperform” rating to a “neutral” rating in a report on Friday, January 9th. Royal Bank Of Canada set a $70.00 price objective on California Resources in a research report on Monday, January 5th. Mizuho increased their target price on shares of California Resources from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Zacks Research raised shares of California Resources from a “strong sell” rating to a “hold” rating in a report on Thursday.

Institutional Trading of California Resources

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in California Resources by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 8,775,097 shares of the oil and gas producer’s stock worth $392,335,000 after purchasing an additional 529,814 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of California Resources by 17.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,181,806 shares of the oil and gas producer’s stock worth $186,968,000 after buying an additional 632,170 shares in the last quarter. State Street Corp boosted its position in shares of California Resources by 14.7% during the fourth quarter. State Street Corp now owns 3,842,223 shares of the oil and gas producer’s stock worth $171,786,000 after acquiring an additional 491,751 shares during the last quarter. American Century Companies Inc. grew its stake in California Resources by 5.6% during the third quarter. American Century Companies Inc. now owns 3,006,430 shares of the oil and gas producer’s stock valued at $159,882,000 after acquiring an additional 159,708 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in California Resources by 200.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,344,493 shares of the oil and gas producer’s stock valued at $104,822,000 after acquiring an additional 1,564,866 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

California Resources Price Performance

NYSE CRC opened at $59.27 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.89 and a quick ratio of 0.78. California Resources has a 1-year low of $30.97 and a 1-year high of $60.03. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 13.78 and a beta of 1.15. The business’s fifty day moving average price is $49.53 and its 200-day moving average price is $49.49.

About California Resources

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.