California Resources Co. (NYSE:CRC) Receives $67.25 Consensus PT from Analysts

California Resources Co. (NYSE:CRC) has received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $67.25.

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

Insider Transactions at California Resources

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 transaction, the executive vice president now owns 30,940 shares in the company, valued at approximately $1,707,269.20. This represents a 34.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On California Resources

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in California Resources by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 9,345,789 shares of the oil and gas producer’s stock worth $484,953,000 after purchasing an additional 225,620 shares during the last quarter. State Street Corp increased its position in California Resources by 5.1% during the 3rd quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock worth $181,021,000 after buying an additional 168,278 shares during the period. American Century Companies Inc. lifted its holdings in shares of California Resources by 14.2% during the fourth quarter. American Century Companies Inc. now owns 2,327,712 shares of the oil and gas producer’s stock worth $120,785,000 after buying an additional 290,263 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of California Resources by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,605,779 shares of the oil and gas producer’s stock valued at $83,344,000 after acquiring an additional 13,116 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of California Resources by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,031,816 shares of the oil and gas producer’s stock valued at $53,541,000 after acquiring an additional 57,614 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

California Resources Trading Up 1.1 %

CRC stock opened at $46.27 on Friday. The business has a fifty day moving average price of $51.75 and a 200 day moving average price of $52.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. California Resources has a fifty-two week low of $43.09 and a fifty-two week high of $60.41. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 7.29, a P/E/G ratio of 0.98 and a beta of 1.04.

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.