California Resources (CRC) to Release Earnings on Tuesday

California Resources (NYSE:CRC) will be announcing its earnings results after the market closes on Tuesday, August 6th. Analysts expect the company to announce earnings of $0.96 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

California Resources (NYSE:CRC) last announced its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.17. The business had revenue of $454.00 million during the quarter, compared to analyst estimates of $490.21 million. California Resources had a net margin of 11.34% and a return on equity of 11.00%. California Resources’s revenue for the quarter was down 55.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.63 earnings per share. On average, analysts expect California Resources to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

California Resources Price Performance

Shares of NYSE:CRC opened at $47.40 on Monday. The company’s fifty day moving average price is $49.97 and its 200-day moving average price is $51.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.41 and a quick ratio of 1.29. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.83 and a beta of 0.98. California Resources has a one year low of $43.30 and a one year high of $58.44.

California Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.24 dividend on an annualized basis and a yield of 2.62%. California Resources’s payout ratio is 35.53%.

Insider Buying and Selling at California Resources

In related news, Director Mark Allen Mcfarland sold 37,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $48.10, for a total value of $1,779,700.00. Following the completion of the transaction, the director now directly owns 104,939 shares in the company, valued at approximately $5,047,565.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRC. Stifel Nicolaus lifted their price target on California Resources from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. TD Cowen began coverage on shares of California Resources in a report on Friday. They set a “buy” rating and a $65.00 price target for the company. Mizuho raised their price target on shares of California Resources from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 price objective on shares of California Resources in a research report on Wednesday, June 12th. Finally, Barclays initiated coverage on shares of California Resources in a report on Wednesday, April 10th. They set an “equal weight” rating and a $62.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

California Resources Company Profile

California Resources Corporation operates as an independent oil and natural gas exploration and production, and carbon management company in the United States. The company explores, produces, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities.