Analysts Set Expectations for CRC FY2025 Earnings

California Resources Co. (NYSE:CRC) – Equities researchers at Capital One Financial upped their FY2025 earnings estimates for California Resources in a report issued on Wednesday, January 8th. Capital One Financial analyst P. Johnston now forecasts that the oil and gas producer will post earnings per share of $3.62 for the year, up from their prior forecast of $2.78. Capital One Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for California Resources’ current full-year earnings is $3.58 per share.

California Resources (NYSE:CRC) last issued its earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 EPS for the quarter, topping the consensus estimate of $0.88 by $0.62. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $973.13 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%. California Resources’s revenue was up 194.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 earnings per share.

Several other research analysts have also weighed in on the company. UBS Group began coverage on California Resources in a research report on Wednesday, October 16th. They issued a “buy” rating and a $68.00 target price on the stock. Barclays raised their price objective on shares of California Resources from $55.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. began coverage on shares of California Resources in a research report on Friday, December 20th. They issued a “neutral” rating and a $63.00 target price for the company. Jefferies Financial Group started coverage on shares of California Resources in a report on Thursday, October 24th. They set a “buy” rating and a $64.00 price target on the stock. Finally, TD Cowen upped their price objective on shares of California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.09.

California Resources Trading Up 0.3 %

Shares of NYSE CRC opened at $52.78 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. California Resources has a one year low of $43.09 and a one year high of $60.41. The business has a 50-day moving average price of $54.89 and a two-hundred day moving average price of $52.48. The firm has a market capitalization of $4.82 billion, a PE ratio of 8.31, a PEG ratio of 1.35 and a beta of 1.05.

California Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.3875 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.55 annualized dividend and a yield of 2.94%. California Resources’s dividend payout ratio (DPR) is 24.41%.

Insiders Place Their Bets

In other California Resources news, EVP Omar Hayat sold 16,016 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $55.18, for a total transaction of $883,762.88. Following the transaction, the executive vice president now directly owns 30,940 shares in the company, valued at approximately $1,707,269.20. This represents a 34.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Noelle M. Repetti sold 8,770 shares of California Resources stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.75, for a total transaction of $488,927.50. Following the sale, the vice president now owns 8,531 shares of the company’s stock, valued at approximately $475,603.25. This represents a 50.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.

Institutional Trading of California Resources

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in shares of California Resources by 22.8% in the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer’s stock worth $62,000 after purchasing an additional 222 shares during the last quarter. Tidal Investments LLC lifted its stake in California Resources by 475.8% in the third quarter. Tidal Investments LLC now owns 30,231 shares of the oil and gas producer’s stock valued at $1,586,000 after buying an additional 24,981 shares during the period. Geode Capital Management LLC boosted its holdings in California Resources by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer’s stock worth $83,583,000 after buying an additional 55,815 shares during the last quarter. MML Investors Services LLC grew its holdings in California Resources by 33.6% during the third quarter. MML Investors Services LLC now owns 7,183 shares of the oil and gas producer’s stock valued at $377,000 after purchasing an additional 1,808 shares during the period. Finally, iA Global Asset Management Inc. increased its stake in California Resources by 30.6% in the third quarter. iA Global Asset Management Inc. now owns 4,870 shares of the oil and gas producer’s stock valued at $256,000 after purchasing an additional 1,140 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.