Brokerages Set California Resources Co. (NYSE:CRC) PT at $66.09

California Resources Co. (NYSE:CRC) has been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $67.25.

A number of analysts have recently commented on CRC shares. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of California Resources in a research report on Tuesday. Capital One Financial upgraded California Resources to a “strong-buy” rating in a report on Monday, December 9th. Truist Financial began coverage on California Resources in a report on Monday, January 13th. They set a “buy” rating and a $75.00 target price on the stock. JPMorgan Chase & Co. started coverage on California Resources in a research report on Friday, December 20th. They set a “neutral” rating and a $63.00 price target on the stock. Finally, Barclays raised their target price on shares of California Resources from $55.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd.

California Resources Trading Down 0.6 %

Shares of NYSE:CRC opened at $53.65 on Monday. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 8.45, a PEG ratio of 1.21 and a beta of 1.05. California Resources has a 12 month low of $43.09 and a 12 month high of $60.41. The company’s fifty day simple moving average is $54.75 and its 200 day simple moving average is $52.52. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32.

California Resources (NYSE:CRC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.62. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $973.13 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The company’s quarterly revenue was up 194.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 earnings per share. As a group, research analysts forecast that California Resources will post 3.66 EPS for the current fiscal year.

California Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Monday, December 2nd. California Resources’s payout ratio is 24.41%.

Insider Buying and Selling at California Resources

In other California Resources news, VP Noelle M. Repetti sold 8,770 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total value of $488,927.50. Following the completion of the sale, the vice president now owns 8,531 shares of the company’s stock, valued at $475,603.25. The trade was a 50.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Omar Hayat sold 16,016 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total transaction of $883,762.88. Following the transaction, the executive vice president now owns 30,940 shares in the company, valued at approximately $1,707,269.20. The trade was a 34.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On California Resources

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of California Resources by 61.5% during the 3rd quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 371 shares during the period. Nisa Investment Advisors LLC lifted its position in California Resources by 71.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer’s stock worth $56,000 after purchasing an additional 454 shares during the period. Point72 DIFC Ltd bought a new stake in California Resources during the third quarter worth about $70,000. KBC Group NV grew its stake in California Resources by 29.1% during the third quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 431 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in California Resources by 9.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock valued at $169,000 after buying an additional 276 shares during the period. 97.79% of the stock is currently owned by institutional investors.

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.