California Resources (NYSE:CRC) PT Raised to $69.00

California Resources (NYSE:CRC) had its price target hoisted by research analysts at Stifel Nicolaus from $68.00 to $69.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 25.66% from the company’s previous close.

CRC has been the subject of a number of other research reports. Mizuho dropped their price objective on shares of California Resources from $69.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Barclays assumed coverage on shares of California Resources in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $62.00 price objective for the company. Bank of America cut shares of California Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $64.00 to $60.00 in a research note on Friday, January 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of California Resources in a research report on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, California Resources presently has an average rating of “Moderate Buy” and a consensus price target of $63.57.

California Resources Price Performance

NYSE:CRC opened at $54.91 on Tuesday. The stock has a market cap of $3.78 billion, a P/E ratio of 7.11 and a beta of 1.02. California Resources has a one year low of $37.21 and a one year high of $58.44. The company has a fifty day moving average price of $54.07 and a 200 day moving average price of $52.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.51 and a quick ratio of 1.39.

California Resources (NYSE:CRC) last announced its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.08). California Resources had a net margin of 20.14% and a return on equity of 17.57%. The business had revenue of $726.00 million during the quarter, compared to analyst estimates of $553.47 million. During the same quarter in the prior year, the company posted $1.24 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts anticipate that California Resources will post 4.57 earnings per share for the current year.

Institutional Investors Weigh In On California Resources

A number of hedge funds have recently added to or reduced their stakes in CRC. Headlands Technologies LLC bought a new stake in California Resources during the 3rd quarter worth about $45,000. TFO Wealth Partners LLC grew its holdings in California Resources by 67,800.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,358 shares of the oil and gas producer’s stock worth $74,000 after acquiring an additional 1,356 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in California Resources by 92.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,503 shares of the oil and gas producer’s stock worth $82,000 after acquiring an additional 722 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in California Resources by 56.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,397 shares of the oil and gas producer’s stock worth $134,000 after acquiring an additional 865 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in California Resources by 16.3% during the 3rd quarter. Assetmark Inc. now owns 2,525 shares of the oil and gas producer’s stock worth $141,000 after acquiring an additional 353 shares during the last quarter. Institutional investors 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.