Shares of California Resources Corp (NYSE:CRC) traded down 0.2% during mid-day trading on Tuesday . The stock traded as low as $40.17 and last traded at $41.22. 61,544 shares traded hands during trading, a decline of 97% from the average session volume of 2,116,038 shares. The stock had previously closed at $41.31.
Several analysts recently issued reports on the company. Zacks Investment Research cut California Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Imperial Capital set a $41.00 target price on California Resources and gave the stock an “outperform” rating in a research report on Thursday, May 17th. Bank of America set a $38.00 target price on California Resources and gave the stock a “buy” rating in a research report on Friday, May 4th. ValuEngine upgraded California Resources from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 4th. Finally, Societe Generale cut California Resources from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. California Resources currently has an average rating of “Buy” and a consensus target price of $29.75.
The company has a market cap of $1.74 billion, a P/E ratio of -10.01 and a beta of 5.93. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of -7.56.
California Resources (NYSE:CRC) last announced its quarterly earnings results on Thursday, May 3rd. The oil and gas producer reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.93. The firm had revenue of $609.00 million for the quarter, compared to the consensus estimate of $537.65 million. During the same period in the previous year, the company posted ($1.02) earnings per share. California Resources’s quarterly revenue was up 3.2% on a year-over-year basis. equities analysts anticipate that California Resources Corp will post 0.2 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Point72 Asia Hong Kong Ltd bought a new position in California Resources during the first quarter valued at approximately $119,000. Cubist Systematic Strategies LLC boosted its stake in California Resources by 1,469.8% during the first quarter. Cubist Systematic Strategies LLC now owns 7,692 shares of the oil and gas producer’s stock valued at $132,000 after buying an additional 7,202 shares during the last quarter. MANA Advisors LLC bought a new position in California Resources during the fourth quarter valued at approximately $220,000. Teacher Retirement System of Texas bought a new position in California Resources during the fourth quarter valued at approximately $244,000. Finally, PEAK6 Investments L.P. bought a new position in California Resources during the fourth quarter valued at approximately $281,000. 88.64% of the stock is owned by institutional investors.
About California Resources
California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. The company sells crude oil, natural gas, and natural gas liquids to marketers, California refineries, and other purchasers that have access to transportation and storage facilities.
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