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

California Resources (NYSE:CRC) will be posting its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect California Resources to post earnings of $0.61 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

California Resources (NYSE:CRC) last announced its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.08). The business had revenue of $726.00 million during the quarter, compared to analysts’ expectations of $553.47 million. California Resources had a return on equity of 17.57% and a net margin of 20.14%. California Resources’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 EPS. On average, analysts expect California Resources to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

California Resources Stock Performance

Shares of California Resources stock opened at $51.68 on Monday. The firm has a market capitalization of $3.55 billion, a P/E ratio of 6.69 and a beta of 1.03. The company has a current ratio of 1.51, a quick ratio of 1.39 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $53.95 and its 200 day simple moving average is $52.62. California Resources has a 12 month low of $37.21 and a 12 month high of $58.44.

California Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Tuesday, March 5th. California Resources’s payout ratio is 16.06%.

Analyst Upgrades and Downgrades

CRC has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price objective on shares of California Resources from $68.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Barclays started coverage on shares of California Resources in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $62.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of California Resources in a report on Wednesday, March 6th. Finally, Mizuho lowered their target price on California Resources from $69.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.57.

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.