California Resources (CRC) Receives New Coverage from Analysts at Mizuho

Mizuho assumed coverage on shares of California Resources (NYSE:CRC) in a research report released on Thursday, March 28th, Benzinga reports. The firm issued a buy rating and a $35.00 price target on the oil and gas producer’s stock.

Several other analysts have also weighed in on CRC. ValuEngine upgraded California Resources from a sell rating to a hold rating in a report on Monday, February 4th. Bank of America lowered California Resources to a sell rating and set a $10.00 price target on the stock. in a report on Thursday, December 20th. Finally, Zacks Investment Research upgraded California Resources from a strong sell rating to a hold rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $39.83.

CRC stock traded down $0.44 during midday trading on Thursday, hitting $26.77. The company’s stock had a trading volume of 1,699,775 shares, compared to its average volume of 1,940,599. California Resources has a 12 month low of $13.48 and a 12 month high of $50.34. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 21.08 and a beta of 4.76.

California Resources (NYSE:CRC) last issued its quarterly earnings data on Wednesday, February 27th. The oil and gas producer reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.50. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $658.79 million. California Resources had a negative return on equity of 11.34% and a net margin of 10.70%. The company’s revenue for the quarter was up 136.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.33) EPS. On average, equities analysts predict that California Resources will post 0.26 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of California Resources during the 1st quarter worth $206,000. Truvestments Capital LLC bought a new stake in California Resources during the first quarter valued at about $27,000. State of Alaska Department of Revenue bought a new stake in California Resources during the first quarter valued at about $39,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in California Resources by 55.1% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 10,860 shares of the oil and gas producer’s stock valued at $279,000 after purchasing an additional 3,860 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in California Resources by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 488,053 shares of the oil and gas producer’s stock valued at $8,316,000 after purchasing an additional 3,037 shares in the last quarter. 74.74% of the stock is currently owned by institutional investors and hedge funds.

California Resources Company Profile

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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Analyst Recommendations for California Resources (NYSE:CRC)

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