California Resources Corp (NYSE:CRC) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $42.70.
A number of equities research analysts have recently issued reports on CRC shares. ValuEngine upgraded California Resources from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 19th. Zacks Investment Research upgraded California Resources from a “sell” rating to a “hold” rating and set a $52.00 price objective on the stock in a research note on Wednesday, October 3rd. TheStreet upgraded California Resources from a “d” rating to a “c-” rating in a research note on Thursday, November 15th. Evercore ISI started coverage on California Resources in a research note on Friday, September 21st. They set an “outperform” rating and a $55.00 price objective on the stock. Finally, Societe Generale upgraded California Resources from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th.
In other California Resources news, Director Harold M. Korell purchased 1,848 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average price of $29.17 per share, for a total transaction of $53,906.16. Following the purchase, the director now owns 39,719 shares in the company, valued at $1,158,603.23. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harold M. Korell purchased 4,736 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The stock was acquired at an average price of $21.11 per share, for a total transaction of $99,976.96. Following the purchase, the director now owns 44,455 shares in the company, valued at approximately $938,445.05. The disclosure for this purchase can be found here. 1.31% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlueMountain Capital Management LLC bought a new stake in California Resources in the 2nd quarter valued at $185,000. WINTON GROUP Ltd bought a new stake in California Resources in the 2nd quarter valued at $216,000. SG Americas Securities LLC acquired a new position in California Resources in the 2nd quarter valued at $216,000. Great West Life Assurance Co. Can grew its holdings in California Resources by 76.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,771 shares of the oil and gas producer’s stock valued at $217,000 after buying an additional 2,061 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new position in California Resources in the 3rd quarter valued at $253,000. Institutional investors and hedge funds own 71.40% of the company’s stock.
Shares of California Resources stock traded up $0.75 on Friday, reaching $21.82. 144,891 shares of the company were exchanged, compared to its average volume of 2,411,387. California Resources has a one year low of $13.26 and a one year high of $50.34. The stock has a market cap of $1.15 billion, a P/E ratio of -5.04 and a beta of 5.41.
California Resources (NYSE:CRC) last announced its quarterly earnings data on Thursday, November 1st. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.89. California Resources had a negative return on equity of 3.20% and a negative net margin of 6.39%. The company had revenue of $828.00 million for the quarter, compared to analysts’ expectations of $689.83 million. During the same quarter in the prior year, the business posted ($1.22) EPS. The business’s revenue was up 86.1% compared to the same quarter last year. Analysts forecast that California Resources will post 1.03 earnings per share for the current fiscal year.
California Resources Company Profile
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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