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

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

A number of other research firms also recently commented on CRC. Mizuho dropped their price target on California Resources from $69.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Bank of America downgraded California Resources from a “buy” rating to a “neutral” rating and dropped their price target for the company from $64.00 to $60.00 in a research note on Friday, January 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of California Resources in a research note on Wednesday, March 6th. Finally, Barclays began coverage on California Resources in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $62.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.57.

California Resources Stock Down 1.5 %

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

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CRC. LSV Asset Management grew its holdings in shares of California Resources by 102.0% during the third quarter. LSV Asset Management now owns 2,943,220 shares of the oil and gas producer’s stock worth $164,850,000 after purchasing an additional 1,485,970 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of California Resources by 71.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,965,476 shares of the oil and gas producer’s stock worth $107,472,000 after purchasing an additional 821,827 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of California Resources by 229.6% during the fourth quarter. Victory Capital Management Inc. now owns 885,906 shares of the oil and gas producer’s stock worth $48,441,000 after purchasing an additional 617,084 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of California Resources during the fourth quarter worth about $20,713,000. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of California Resources by 114.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 528,254 shares of the oil and gas producer’s stock worth $29,588,000 after purchasing an additional 282,407 shares during the last quarter. Institutional investors and hedge funds 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.