ValuEngine upgraded shares of California Resources (NYSE:CRC) from a sell rating to a hold rating in a report published on Monday, February 4th.
Several other analysts have also recently commented on the company. Bank of America cut California Resources from a buy rating to a neutral rating and set a $36.00 price target for the company. in a research report on Friday, January 4th. Zacks Investment Research lowered California Resources from a buy rating to a hold rating in a research note on Tuesday, December 25th. TheStreet raised California Resources from a d rating to a c- rating in a research note on Thursday, November 15th. Finally, Societe Generale raised California Resources from a hold rating to a buy rating in a research note on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. California Resources currently has an average rating of Hold and an average price target of $46.00.
CRC stock traded up $0.09 during trading on Monday, hitting $23.74. 1,934,865 shares of the company traded hands, compared to its average volume of 1,970,583. The stock has a market cap of $1.06 billion, a P/E ratio of 19.30 and a beta of 4.75. California Resources has a 1 year low of $13.48 and a 1 year high of $50.34.
California Resources (NYSE:CRC) last posted its quarterly earnings data on Wednesday, February 27th. The oil and gas producer reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.50. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $658.79 million. California Resources had a negative return on equity of 3.20% and a negative net margin of 6.39%. The business’s revenue was up 136.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.33) earnings per share. Research analysts anticipate that California Resources will post 0.55 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of CRC. Lombard Odier Asset Management USA Corp purchased a new stake in California Resources during the 3rd quarter worth about $2,912,000. Vanguard Group Inc increased its holdings in California Resources by 11.1% during the 3rd quarter. Vanguard Group Inc now owns 3,803,159 shares of the oil and gas producer’s stock worth $184,568,000 after purchasing an additional 381,230 shares during the period. Gabelli Funds LLC increased its holdings in California Resources by 129.0% during the 4th quarter. Gabelli Funds LLC now owns 137,558 shares of the oil and gas producer’s stock worth $2,344,000 after purchasing an additional 77,500 shares during the period. James Investment Research Inc. purchased a new stake in California Resources during the 4th quarter worth about $1,000,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in California Resources during the 3rd quarter worth about $330,000. 73.50% of the stock is currently owned by hedge funds and other institutional investors.
California Resources Company Profile
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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