California Resources (CRC) Set to Announce Earnings on Tuesday

California Resources (NYSE:CRC) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, August 6th. Analysts expect the company to announce earnings of $0.96 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

California Resources (NYSE:CRC) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.17. California Resources had a net margin of 11.34% and a return on equity of 11.00%. The firm had revenue of $454.00 million for the quarter, compared to the consensus estimate of $490.21 million. During the same period last year, the firm posted $2.63 EPS. California Resources’s quarterly revenue was down 55.7% compared to the same quarter last year. 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

NYSE CRC opened at $47.40 on Monday. The company has a 50-day moving average price of $49.97 and a two-hundred day moving average price of $51.55. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 0.83 and a beta of 0.98. The company has a current ratio of 1.41, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. California Resources has a 52 week low of $43.30 and a 52 week high of $58.44.

California Resources Dividend Announcement

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

Insider Activity

In other California Resources news, Director Mark Allen Mcfarland sold 37,000 shares of the 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 sale, the director now owns 104,939 shares in the company, valued at approximately $5,047,565.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CRC has been the topic of several research analyst reports. Citigroup began coverage on shares of California Resources in a research note on Friday, July 19th. They set a “buy” rating and a $63.00 target price on the stock. Stifel Nicolaus raised their price objective on shares of California Resources from $68.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 target price on shares of California Resources in a research report on Wednesday, June 12th. Mizuho boosted their price objective on California Resources from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, TD Cowen started coverage on California Resources in a report on Friday. They issued a “buy” rating and a $65.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.