California Resources Corp (NYSE:CRC) has earned an average recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $44.00.

Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of California Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 6th. ValuEngine upgraded shares of California Resources from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Bank of America lowered shares of California Resources to a “sell” rating and set a $10.00 price target on the stock. in a research report on Thursday, December 20th. Finally, TheStreet upgraded shares of California Resources from a “d” rating to a “c-” rating in a research report on Thursday, November 15th.

Shares of NYSE CRC opened at $23.96 on Tuesday. California Resources has a 52-week low of $13.48 and a 52-week high of $50.34. The stock has a market capitalization of $1.18 billion, a PE ratio of 19.48 and a beta of 4.76.

California Resources (NYSE:CRC) last announced its earnings results on Wednesday, February 27th. The oil and gas producer reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.50. California Resources had a net margin of 10.70% and a negative return on equity of 11.34%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $658.79 million. During the same quarter last year, the business earned ($0.33) earnings per share. The company’s revenue for the quarter was up 136.9% compared to the same quarter last year. Sell-side analysts forecast that California Resources will post 0.35 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc boosted its position in California Resources by 11.1% during the third quarter. Vanguard Group Inc now owns 3,803,159 shares of the oil and gas producer’s stock worth $184,568,000 after acquiring an additional 381,230 shares during the last quarter. Vanguard Group Inc. boosted its position in California Resources by 11.1% during the third quarter. Vanguard Group Inc. now owns 3,803,159 shares of the oil and gas producer’s stock worth $184,568,000 after acquiring an additional 381,230 shares during the last quarter. BlackRock Inc. boosted its position in California Resources by 4.1% during the fourth quarter. BlackRock Inc. now owns 3,263,108 shares of the oil and gas producer’s stock worth $55,602,000 after acquiring an additional 127,025 shares during the last quarter. JPMorgan Chase & Co. boosted its position in California Resources by 933.6% during the third quarter. JPMorgan Chase & Co. now owns 1,031,585 shares of the oil and gas producer’s stock worth $50,063,000 after acquiring an additional 931,777 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in California Resources by 57.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 807,671 shares of the oil and gas producer’s stock worth $13,763,000 after acquiring an additional 294,906 shares during the last quarter. Hedge funds and other institutional investors own 74.75% of the company’s stock.

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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