California Resources (CRC) Set to Announce Earnings on Tuesday

California Resources (NYSE:CRC) will 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 released its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.36). California Resources had a net margin of 7.61% and a return on equity of 11.27%. The company had revenue of $514.00 million for the quarter, compared to the consensus estimate of $477.07 million. During the same period in the prior year, the firm posted $0.53 EPS. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. 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 Trading Down 0.1 %

Shares of CRC opened at $51.93 on Monday. The company’s fifty day simple moving average is $51.75 and its 200-day simple moving average is $50.69. The company has a market cap of $3.53 billion, a P/E ratio of 23.08, a P/E/G ratio of 1.28 and a beta of 0.98. The company has a current ratio of 2.43, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. California Resources has a twelve month low of $43.09 and a twelve month high of $57.88.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRC. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price target on shares of California Resources in a research note on Monday, August 12th. UBS Group started coverage on shares of California Resources in a research report on Wednesday, October 16th. They issued a “buy” rating and a $68.00 price objective for the company. Citigroup raised their target price on shares of California Resources from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Jefferies Financial Group assumed coverage on California Resources in a research note on Thursday, October 24th. They issued a “buy” rating and a $64.00 price objective on the stock. Finally, Stephens began coverage on California Resources in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 target price for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, California Resources presently has an average rating of “Moderate Buy” and an average target price of $65.50.

Insiders Place Their Bets

In related news, Director Christian S. Kendall bought 20,895 shares of the stock in a transaction that occurred 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 purchase, the director now directly owns 24,600 shares of the company’s stock, valued at approximately $1,180,062. This trade represents a 500.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Francisco Leon sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $49.18, for a total value of $368,850.00. Following the sale, the chief executive officer now owns 166,357 shares in the company, valued at $8,181,437.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 purchase, the director now 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. Corporate insiders own 0.03% of the company’s stock.

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.