California Resources (NYSE:CRC) Upgraded by Wall Street Zen to Hold Rating

California Resources (NYSE:CRC) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

CRC has been the topic of a number of other research reports. Mizuho upped their price target on shares of California Resources from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. UBS Group raised their price objective on shares of California Resources from $63.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Citigroup lifted their target price on shares of California Resources from $51.00 to $67.00 and gave the stock a “neutral” rating in a report on Wednesday. TD Cowen upgraded shares of California Resources to a “strong-buy” rating in a report on Monday, February 9th. Finally, Pickering Energy Partners downgraded shares of California Resources from an “outperform” rating to a “neutral” rating in a research report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.80.

California Resources Stock Up 1.0%

CRC stock opened at $63.53 on Friday. The business has a 50 day moving average of $56.23 and a 200 day moving average of $51.29. The firm has a market cap of $5.64 billion, a PE ratio of 15.57 and a beta of 1.12. California Resources has a twelve month low of $30.97 and a twelve month high of $66.35. The company has a quick ratio of 0.79, a current ratio of 0.89 and a debt-to-equity ratio of 0.35.

California Resources (NYSE:CRC) last released its earnings results on Monday, March 2nd. The oil and gas producer reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). California Resources had a return on equity of 10.23% and a net margin of 9.89%.The company had revenue of $924.00 million during the quarter, compared to the consensus estimate of $789.67 million. During the same period last year, the firm posted $0.91 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts forecast that California Resources will post 3.85 EPS for the current fiscal year.

Insider Buying and Selling at California Resources

In other California Resources news, VP Noelle M. Repetti sold 8,564 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $63.71, for a total value of $545,612.44. Following the transaction, the vice president directly owned 7,684 shares in the company, valued at approximately $489,547.64. This trade represents a 52.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher D. Gould sold 24,347 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $62.21, for a total transaction of $1,514,626.87. Following the sale, the executive vice president directly owned 131,537 shares of the company’s stock, valued at approximately $8,182,916.77. The trade was a 15.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 72,283 shares of company stock valued at $4,636,646 in the last ninety days. Corporate insiders own 0.03% of the company’s stock.

Institutional Trading of California Resources

Several hedge funds have recently bought and sold shares of CRC. Hsbc Holdings PLC raised its stake in shares of California Resources by 228.6% in the fourth quarter. Hsbc Holdings PLC now owns 17,678 shares of the oil and gas producer’s stock worth $780,000 after buying an additional 12,299 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of California Resources by 363.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 561 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 440 shares during the period. EMC Capital Management purchased a new stake in California Resources in the 4th quarter worth approximately $42,000. Invesco Ltd. increased its holdings in California Resources by 3.0% in the 4th quarter. Invesco Ltd. now owns 1,102,049 shares of the oil and gas producer’s stock worth $49,273,000 after acquiring an additional 32,460 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in California Resources by 8.2% during the 4th quarter. Mackenzie Financial Corp now owns 11,313 shares of the oil and gas producer’s stock worth $504,000 after acquiring an additional 862 shares during the period. Institutional investors own 97.79% of the company’s stock.

California Resources Company Profile

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.