Shares of California Resources Corp (NYSE:CRC) gapped down prior to trading on Thursday . The stock had previously closed at $18.39, but opened at $20.08. California Resources shares last traded at $17.34, with a volume of 44819 shares changing hands.

Several analysts have recently commented on the stock. ValuEngine downgraded shares of California Resources from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Raymond James upgraded shares of California Resources from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a report on Monday, May 13th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of California Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 6th. Mizuho assumed coverage on shares of California Resources in a report on Thursday, March 28th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Goldman Sachs Group downgraded shares of California Resources from a “neutral” rating to a “sell” rating and increased their target price for the company from $19.00 to $20.00 in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. California Resources currently has an average rating of “Hold” and an average target price of $33.33.

The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 13.39 and a beta of 4.56.

California Resources (NYSE:CRC) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.94. The company had revenue of $690.00 million during the quarter, compared to analyst estimates of $635.00 million. California Resources had a net margin of 8.36% and a negative return on equity of 18.81%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, analysts anticipate that California Resources Corp will post 3.04 earnings per share for the current year.

In related news, Director William E. Albrecht sold 10,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director now owns 110,788 shares in the company, valued at $2,215,760. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.50% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. NumerixS Investment Technologies Inc bought a new position in California Resources during the first quarter worth about $26,000. Truvestments Capital LLC bought a new position in California Resources during the first quarter worth about $27,000. State of Alaska Department of Revenue bought a new position in California Resources during the first quarter worth about $39,000. Advisor Group Inc. boosted its position in California Resources by 69.7% during the first quarter. Advisor Group Inc. now owns 2,474 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 1,016 shares during the period. Finally, Quantamental Technologies LLC bought a new position in California Resources during the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 71.94% of the company’s stock.

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California Resources Company Profile (NYSE:CRC)

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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