Brokerages Set California Resources Co. (NYSE:CRC) PT at $65.50

California Resources Co. (NYSE:CRC) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $65.50.

A number of equities analysts have recently issued reports on CRC shares. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 target price on shares of California Resources in a report on Monday, August 12th. Barclays increased their price target on California Resources from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. Stephens initiated coverage on California Resources in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price target on the stock. Bank of America upgraded California Resources from a “neutral” rating to a “buy” rating and increased their price target for the stock from $57.00 to $65.00 in a research report on Wednesday, August 21st. Finally, UBS Group initiated coverage on California Resources in a research report on Wednesday, October 16th. They set a “buy” rating and a $68.00 price target on the stock.

California Resources Trading Up 2.1 %

Shares of CRC opened at $53.97 on Wednesday. California Resources has a 1 year low of $43.09 and a 1 year high of $57.88. The company has a current ratio of 2.43, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $51.75 and a 200-day simple moving average of $50.68. The stock has a market cap of $3.66 billion, a PE ratio of 23.99, a PEG ratio of 1.28 and a beta of 0.98.

California Resources (NYSE:CRC) last issued its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.36). California Resources had a return on equity of 11.27% and a net margin of 7.61%. The company had revenue of $514.00 million during the quarter, compared to analyst estimates of $477.07 million. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s quarterly revenue was down 13.0% on a year-over-year basis. On average, sell-side analysts predict that California Resources will post 3.45 EPS for the current fiscal year.

Insider Buying and Selling at California Resources

In other California Resources news, CEO Francisco Leon sold 7,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $49.18, for a total value of $368,850.00. Following the transaction, the chief executive officer now directly owns 166,357 shares in the company, valued at approximately $8,181,437.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Noelle M. Repetti sold 10,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.00, for a total value of $530,000.00. Following the transaction, the vice president now owns 17,301 shares of the company’s stock, valued at $916,953. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Francisco Leon sold 7,500 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $49.18, for a total value of $368,850.00. Following the completion of the transaction, the chief executive officer now directly owns 166,357 shares in the company, valued at approximately $8,181,437.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new stake in California Resources during the 3rd quarter worth $682,000. Atria Investments Inc acquired a new stake in California Resources during the 3rd quarter worth $209,000. Amalgamated Bank raised its stake in California Resources by 3.1% during the 3rd quarter. Amalgamated Bank now owns 20,406 shares of the oil and gas producer’s stock worth $1,071,000 after buying an additional 605 shares during the period. Private Management Group Inc. raised its stake in California Resources by 0.3% during the 3rd quarter. Private Management Group Inc. now owns 796,610 shares of the oil and gas producer’s stock worth $41,798,000 after buying an additional 2,651 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in California Resources by 9.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock worth $169,000 after buying an additional 276 shares during the period. Institutional investors and hedge funds 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.