California Resources Co. (NYSE:CRC) Receives Average Recommendation of “Moderate Buy” from Analysts

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

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of California Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Capital One Financial raised California Resources to a “strong-buy” rating in a research report on Monday, December 9th. Stephens assumed coverage on California Resources in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $73.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of California Resources in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group began coverage on California Resources in a research report on Thursday, October 24th. They issued a “buy” rating and a $64.00 price target on the stock.

California Resources Trading Up 1.1 %

Shares of CRC stock opened at $46.27 on Friday. California Resources has a 12 month low of $43.09 and a 12 month high of $60.41. The company has a market cap of $4.23 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 0.98 and a beta of 1.04. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $51.75 and its two-hundred day moving average is $52.29.

Insider Buying and Selling

In related news, EVP Omar Hayat sold 16,016 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $55.18, for a total value of $883,762.88. Following the sale, the executive vice president now owns 30,940 shares of the company’s stock, valued at $1,707,269.20. The trade was a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On California Resources

A number of institutional investors have recently added to or reduced their stakes in CRC. AQR Capital Management LLC lifted its position in shares of California Resources by 114.0% during the 2nd quarter. AQR Capital Management LLC now owns 21,032 shares of the oil and gas producer’s stock worth $1,119,000 after buying an additional 11,205 shares during the period. Creative Planning raised its stake in California Resources by 32.0% during the second quarter. Creative Planning now owns 13,210 shares of the oil and gas producer’s stock worth $703,000 after acquiring an additional 3,205 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of California Resources by 165.9% during the third quarter. SG Americas Securities LLC now owns 7,541 shares of the oil and gas producer’s stock valued at $396,000 after acquiring an additional 4,705 shares during the period. GAMMA Investing LLC boosted its stake in shares of California Resources by 61.5% in the 3rd quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 371 shares in the last quarter. Finally, CX Institutional grew its holdings in shares of California Resources by 4.8% in the 3rd quarter. CX Institutional now owns 25,113 shares of the oil and gas producer’s stock worth $1,318,000 after purchasing an additional 1,152 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

About California Resources

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.