Wall Street brokerages expect that California Resources Corp (NYSE:CRC) will announce earnings of $0.37 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for California Resources’ earnings. The highest EPS estimate is $0.41 and the lowest is $0.33. California Resources reported earnings of ($0.29) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 227.6%. The company is scheduled to report its next earnings results after the market closes on Thursday, August 1st.
On average, analysts expect that California Resources will report full-year earnings of $2.67 per share for the current financial year, with EPS estimates ranging from $1.78 to $3.55. For the next year, analysts expect that the business will post earnings of $7.34 per share, with EPS estimates ranging from $3.05 to $11.63. Zacks’ EPS calculations are an average based on a survey of analysts that follow California Resources.
California Resources (NYSE:CRC) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.94. California Resources had a negative return on equity of 18.81% and a net margin of 8.36%. The company had revenue of $690.00 million during the quarter, compared to analysts’ expectations of $635.00 million. During the same period in the prior year, the business posted $0.18 EPS. California Resources’s revenue was up 13.3% on a year-over-year basis.
CRC has been the topic of a number of research analyst reports. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Bank of America increased their price target on California Resources from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday. Goldman Sachs Group cut Encana to a “buy” rating in a research note on Friday, April 12th. Mizuho set a $67.00 price target on Walgreens Boots Alliance and gave the company a “hold” rating in a research note on Thursday, March 28th. Finally, Zacks Investment Research upgraded Falcon Minerals from a “sell” rating to a “hold” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. California Resources currently has a consensus rating of “Hold” and an average target price of $30.00.
NYSE:CRC traded up $0.76 during trading hours on Tuesday, reaching $15.70. 2,536,700 shares of the stock were exchanged, compared to its average volume of 2,160,710. California Resources has a twelve month low of $13.48 and a twelve month high of $50.34. The company’s 50 day simple moving average is $17.81. The stock has a market capitalization of $729.07 million, a PE ratio of 12.36 and a beta of 4.41.
In other news, Director Laurie Siegel acquired 3,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $16.78 per share, for a total transaction of $50,340.00. Following the transaction, the director now directly owns 15,196 shares of the company’s stock, valued at $254,988.88. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William E. Albrecht sold 10,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the transaction, the director now owns 102,883 shares in the company, valued at approximately $2,057,660. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock worth $600,000 in the last quarter. Company insiders own 3.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CRC. Truvestments Capital LLC bought a new position in California Resources during the 1st quarter worth $27,000. State of Alaska Department of Revenue bought a new position in shares of California Resources in the first quarter worth $39,000. Hsbc Holdings PLC boosted its stake in California Resources by 32.8% in the fourth quarter. Hsbc Holdings PLC now owns 11,396 shares of the oil and gas producer’s stock valued at $194,000 after buying an additional 2,815 shares in the last quarter. Teza Capital Management LLC acquired a new stake in California Resources in the first quarter valued at about $202,000. Finally, Virtu Financial LLC acquired a new stake in California Resources in the first quarter valued at about $206,000. Hedge funds and other institutional investors own 62.83% of the company’s stock.
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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