California Resources (CRC) Set to Announce Earnings on Tuesday

California Resources (NYSE:CRC) is set to issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.61 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

California Resources (NYSE:CRC) last issued its quarterly earnings results on Tuesday, February 27th. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.08). The business had revenue of $726.00 million for the quarter, compared to analyst estimates of $553.47 million. California Resources had a return on equity of 17.57% and a net margin of 20.14%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. 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 Up 0.3 %

California Resources stock opened at $51.68 on Monday. The business has a fifty day moving average price of $53.95 and a 200-day moving average price of $52.62. California Resources has a 1-year low of $37.21 and a 1-year high of $58.44. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 6.69 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.51 and a quick ratio of 1.39.

California Resources Dividend Announcement

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

Analyst Ratings Changes

CRC has been the subject of several research reports. Stifel Nicolaus lifted their price objective on shares of California Resources from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Mizuho dropped their price target 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. Barclays initiated coverage on California Resources in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $62.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 target price on shares of California Resources in a report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.57.

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.