Roth Capital Has Pessimistic Outlook of CRC Q4 Earnings

California Resources Co. (NYSE:CRC) – Analysts at Roth Capital reduced their Q4 2024 earnings per share estimates for shares of California Resources in a research report issued to clients and investors on Tuesday, February 18th. Roth Capital analyst L. Mariani now expects that the oil and gas producer will earn $0.85 per share for the quarter, down from their prior estimate of $0.89. The consensus estimate for California Resources’ current full-year earnings is $3.85 per share. Roth Capital also issued estimates for California Resources’ Q1 2025 earnings at $0.71 EPS, Q2 2025 earnings at $0.62 EPS, Q3 2025 earnings at $1.36 EPS, Q4 2025 earnings at $0.82 EPS and FY2025 earnings at $3.51 EPS.

A number of other equities analysts have also weighed in on CRC. StockNews.com raised California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 target price on shares of California Resources in a research report on Tuesday, January 14th. Stephens assumed coverage on California Resources in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 target price on the stock. TD Cowen upped their target price on California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. began coverage on California Resources in a research report on Friday, December 20th. They set a “neutral” rating and a $63.00 target price on the stock. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, California Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.25.

California Resources Price Performance

Shares of NYSE:CRC opened at $48.20 on Wednesday. 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 $43.09 and a twelve month high of $60.41. The stock’s 50 day moving average is $51.35 and its 200-day moving average is $52.30. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 0.98 and a beta of 1.04.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. R Squared Ltd bought a new position in shares of California Resources during the 4th quarter worth $31,000. Smartleaf Asset Management LLC grew its stake in shares of California Resources by 331.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer’s stock worth $53,000 after acquiring an additional 812 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of California Resources by 71.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer’s stock worth $56,000 after acquiring an additional 454 shares during the period. GAMMA Investing LLC grew its stake in shares of 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 worth $62,000 after acquiring an additional 222 shares during the period. Finally, Point72 DIFC Ltd bought a new position in shares of California Resources during the 3rd quarter worth $70,000. Institutional investors own 97.79% of the company’s stock.

Insider Buying and Selling at California Resources

In other California Resources news, EVP Omar Hayat sold 16,016 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $55.18, for a total value of $883,762.88. Following the completion of the transaction, the executive vice president now owns 30,940 shares in the company, valued at $1,707,269.20. This represents a 34.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.