California Resources (NYSE:CRC) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday, September 11th.
CRC has been the subject of a number of other research reports. Zacks Investment Research downgraded California Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Imperial Capital set a $41.00 price target on California Resources and gave the company an “outperform” rating in a research report on Thursday, May 17th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $34.64.
NYSE CRC traded down $1.84 during trading hours on Tuesday, hitting $46.14. The company had a trading volume of 1,527,525 shares, compared to its average volume of 1,949,813. California Resources has a 52 week low of $8.84 and a 52 week high of $50.34. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of -7.87. The company has a market cap of $2.35 billion, a P/E ratio of -10.49 and a beta of 5.55.
California Resources (NYSE:CRC) last issued its earnings results on Thursday, August 2nd. The oil and gas producer reported ($0.29) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.34). The business had revenue of $549.00 million during the quarter, compared to analyst estimates of $649.01 million. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.83) EPS. Equities research analysts anticipate that California Resources will post -0.35 EPS for the current year.
Institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. increased its stake in California Resources by 20.1% in the 2nd quarter. Baird Financial Group Inc. now owns 40,256 shares of the oil and gas producer’s stock worth $1,829,000 after purchasing an additional 6,749 shares during the period. GeoSphere Capital Management LLC bought a new stake in shares of California Resources in the 2nd quarter worth approximately $254,000. Rhumbline Advisers grew its position in shares of California Resources by 5.9% in the 2nd quarter. Rhumbline Advisers now owns 60,784 shares of the oil and gas producer’s stock worth $2,762,000 after buying an additional 3,401 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of California Resources in the 2nd quarter worth approximately $375,000. Finally, Sei Investments Co. grew its position in shares of California Resources by 168.6% in the 2nd quarter. Sei Investments Co. now owns 9,376 shares of the oil and gas producer’s stock worth $426,000 after buying an additional 5,885 shares during the last quarter. 72.26% of the stock is currently owned by institutional investors and hedge funds.
About California Resources
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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