Q1 EPS Estimates for CRC Decreased by Capital One Financial

California Resources Co. (NYSE:CRC) – Stock analysts at Capital One Financial lowered their Q1 2025 earnings estimates for California Resources in a report issued on Wednesday, April 16th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will earn $0.65 per share for the quarter, down from their prior forecast of $0.78. The consensus estimate for California Resources’ current full-year earnings is $3.85 per share. Capital One Financial also issued estimates for California Resources’ FY2025 earnings at $2.96 EPS.

Other research analysts also recently issued reports about the company. Citigroup downgraded California Resources from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $62.00 to $36.00 in a research note on Monday, April 7th. Truist Financial started coverage on shares of California Resources in a research report on Monday, January 13th. They set a “buy” rating and a $75.00 target price for the company. Barclays reduced their price target on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. assumed coverage on shares of California Resources in a report on Friday, December 20th. They set a “neutral” rating and a $63.00 price objective for the company. Finally, Royal Bank of Canada reduced their target price on California Resources from $68.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong 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 $63.83.

California Resources Stock Performance

NYSE CRC opened at $35.65 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. California Resources has a twelve month low of $30.97 and a twelve month high of $60.41. The business has a 50-day moving average price of $41.75 and a 200-day moving average price of $49.42. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 5.61, a price-to-earnings-growth ratio of 1.02 and a beta of 1.03.

California Resources (NYSE:CRC) last issued its earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.05). The firm had revenue of $877.00 million during the quarter, compared to the consensus estimate of $901.36 million. California Resources had a return on equity of 12.16% and a net margin of 17.43%.

Institutional Investors Weigh In On California Resources

A number of institutional investors and hedge funds have recently modified their holdings of CRC. R Squared Ltd bought a new position in California Resources in the 4th quarter valued at $31,000. Harbor Capital Advisors Inc. boosted its stake in shares of California Resources by 68.8% during the first quarter. Harbor Capital Advisors Inc. now owns 775 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 316 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of California Resources by 331.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 812 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in California Resources by 71.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer’s stock worth $56,000 after buying an additional 454 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in California Resources by 22.8% during the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer’s stock valued at $62,000 after buying an additional 222 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Insider Buying and Selling at California Resources

In other California Resources news, Director James N. Chapman bought 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $39.42 per share, for a total transaction of $78,840.00. Following the completion of the transaction, the director now directly owns 43,445 shares of the company’s stock, valued at approximately $1,712,601.90. This represents a 4.83 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.03% of the company’s stock.

California Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Monday, March 10th. California Resources’s payout ratio is 37.71%.

About California Resources

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.