California Resources Corp (NYSE:CRC) has earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $22.63.
CRC has been the subject of several research reports. ValuEngine lowered California Resources from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 28th. Bank of America raised California Resources from an “underperform” rating to a “neutral” rating and set a $24.00 price objective for the company in a report on Thursday, January 4th. Zacks Investment Research raised California Resources from a “sell” rating to a “hold” rating and set a $26.00 price objective for the company in a report on Thursday, January 18th. Imperial Capital increased their price objective on California Resources from $12.00 to $18.00 and gave the company an “in-line” rating in a report on Wednesday, November 8th. Finally, Societe Generale lowered California Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 4th.
In related news, Director Harry T. Mcmahon purchased 35,530 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was purchased at an average cost of $14.18 per share, with a total value of $503,815.40. Following the completion of the acquisition, the director now directly owns 48,773 shares of the company’s stock, valued at $691,601.14. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.91% of the stock is owned by company insiders.
Shares of California Resources (NYSE:CRC) traded down $0.09 during midday trading on Friday, reaching $13.97. The company’s stock had a trading volume of 2,143,953 shares, compared to its average volume of 1,754,921. California Resources has a 1-year low of $6.47 and a 1-year high of $25.06. The company has a market capitalization of $598.87, a price-to-earnings ratio of -2.23 and a beta of 6.34. The company has a current ratio of 0.66, a quick ratio of 0.58 and a debt-to-equity ratio of -7.37.
California Resources (NYSE:CRC) last announced its quarterly earnings data on Monday, February 26th. The oil and gas producer reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.21. The firm had revenue of $455.00 million for the quarter, compared to the consensus estimate of $540.57 million. During the same period last year, the company posted ($1.76) earnings per share. California Resources’s revenue for the quarter was up .7% on a year-over-year basis. equities research analysts anticipate that California Resources will post -2.59 earnings per share for the current fiscal year.
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About California Resources
California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produced approximately 140 thousand barrels of oil equivalent per day (MBoe/d), as of December 31, 2016. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe).
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