California Resources (CRC) Set to Announce Quarterly Earnings on Tuesday

California Resources (NYSE:CRC) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, November 5th. Analysts expect the company to announce earnings of $0.88 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

California Resources (NYSE:CRC) last posted its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.60 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.36). The firm had revenue of $514.00 million during the quarter, compared to the consensus estimate of $477.07 million. California Resources had a return on equity of 11.27% and a net margin of 7.61%. California Resources’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. On average, analysts expect California Resources to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

California Resources Stock Performance

Shares of CRC stock opened at $52.41 on Tuesday. California Resources has a 12-month low of $43.09 and a 12-month high of $57.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.43 and a quick ratio of 2.33. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The business has a 50 day simple moving average of $51.66 and a 200 day simple moving average of $50.77.

California Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.3875 per share. This is a boost from California Resources’s previous quarterly dividend of $0.31. This represents a $1.55 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Friday, August 30th. California Resources’s payout ratio is currently 44.41%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays raised their target price on shares of California Resources from $55.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. Stephens assumed coverage on shares of California Resources in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price objective on the stock. UBS Group assumed coverage on California Resources in a research report on Wednesday, October 16th. They issued a “buy” rating and a $68.00 target price for the company. TD Cowen began coverage on California Resources in a research report on Friday, August 2nd. They set a “buy” rating and a $65.00 price target on the stock. Finally, Bank of America upgraded California Resources from a “neutral” rating to a “buy” rating and upped their price objective for the company from $57.00 to $65.00 in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, California Resources currently has an average rating of “Moderate Buy” and a consensus price target of $65.50.

Insider Activity

In other news, Director Christian S. Kendall bought 20,895 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $47.97 per share, for a total transaction of $1,002,333.15. Following the completion of the acquisition, the director now directly owns 24,600 shares in the company, valued at $1,180,062. This represents a 500.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Francisco Leon sold 7,500 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $49.18, for a total transaction of $368,850.00. Following the transaction, the chief executive officer now directly owns 166,357 shares of the company’s stock, valued at approximately $8,181,437.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christian S. Kendall acquired 20,895 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $47.97 per share, with a total value of $1,002,333.15. Following the completion of the transaction, the director now directly owns 24,600 shares in the company, valued at approximately $1,180,062. This trade represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. 0.03% of the stock is currently owned by company insiders.

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.