Shares of California Resources Corp. (NYSE:CRC) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the firm. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $35.00.
Separately, Zacks Investment Research downgraded shares of California Resources Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th.
California Resources Corp. (NYSE:CRC) opened at 11.07 on Thursday. The stock’s market capitalization is $454.98 million. The firm’s 50-day moving average is $10.99 and its 200 day moving average is $13.49. California Resources Corp. has a 12-month low of $2.81 and a 12-month high of $51.50.
California Resources Corp. (NYSE:CRC) last released its earnings results on Thursday, August 4th. The company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of ($1.49) by $0.31. California Resources Corp. had a negative net margin of 195.30% and a negative return on equity of 42.69%. The business had revenue of $317 million for the quarter, compared to the consensus estimate of $437.47 million. The company’s revenue for the quarter was down 50.4% compared to the same quarter last year. Equities research analysts anticipate that California Resources Corp. will post ($6.72) earnings per share for the current year.
A number of large investors have recently bought and sold shares of CRC. JPMorgan Chase & Co. increased its stake in California Resources Corp. by 1,122.9% in the first quarter. JPMorgan Chase & Co. now owns 2,918,282 shares of the company’s stock valued at $3,007,000 after buying an additional 2,679,640 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in California Resources Corp. during the second quarter valued at $1,221,000. BlackRock Inc. increased its stake in California Resources Corp. by 17.2% in the first quarter. BlackRock Inc. now owns 311,688 shares of the company’s stock valued at $320,000 after buying an additional 45,694 shares during the last quarter. Princeton Alpha Management LP bought a new stake in California Resources Corp. during the second quarter valued at $180,000. Finally, Coastland Capital LLC increased its stake in California Resources Corp. by 67.7% in the first quarter. Coastland Capital LLC now owns 5,040,970 shares of the company’s stock valued at $5,192,000 after buying an additional 2,035,804 shares during the last quarter. 66.02% of the stock is owned by institutional investors and hedge funds.
About California Resources Corp.
California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produces approximately 160 thousand barrels of oil equivalent per day (MBoe/d). It has net proved reserves of over 640 million barrels of oil equivalent (MMBoe).
Receive News & Ratings for California Resources Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Resources Corp. and related companies with MarketBeat.com's FREE daily email newsletter.