Research Analysts Set Expectations for CRC FY2025 Earnings

California Resources Co. (NYSE:CRC) – Stock analysts at Capital One Financial lifted their FY2025 earnings per share (EPS) estimates for shares of California Resources in a research note issued to investors on Wednesday, January 8th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will earn $3.62 per share for the year, up from their prior estimate of $2.78. Capital One Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for California Resources’ current full-year earnings is $3.58 per share.

A number of other analysts have also recently commented on the company. Truist Financial began coverage on California Resources in a research report on Monday. They set a “buy” rating and a $75.00 target price on the stock. UBS Group began coverage on California Resources in a research note on Wednesday, October 16th. They issued a “buy” rating and a $68.00 price objective for the company. StockNews.com upgraded shares of California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Barclays increased their price target on shares of California Resources from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Finally, TD Cowen lifted their price objective on shares of California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, California Resources presently has an average rating of “Moderate Buy” and an average target price of $67.25.

California Resources Price Performance

Shares of NYSE:CRC opened at $53.83 on Monday. California Resources has a 12 month low of $43.09 and a 12 month high of $60.41. The firm has a market capitalization of $4.92 billion, a P/E ratio of 8.48, a P/E/G ratio of 1.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. The company’s fifty day moving average price is $54.92 and its 200 day moving average price is $52.49.

California Resources (NYSE:CRC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.62. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $973.13 million. During the same quarter last year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was up 194.1% on a year-over-year basis.

California Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Monday, December 2nd. California Resources’s dividend payout ratio (DPR) is 24.41%.

Insider Activity at California Resources

In other California Resources news, VP Noelle M. Repetti sold 8,770 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total value of $488,927.50. Following the completion of the transaction, the vice president now directly owns 8,531 shares of the company’s stock, valued at approximately $475,603.25. This trade represents a 50.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Omar Hayat sold 16,016 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 30,940 shares in the company, valued at $1,707,269.20. This trade represents a 34.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.

Hedge Funds Weigh In On California Resources

Several hedge funds and other institutional investors have recently bought and sold shares of CRC. GSA Capital Partners LLP purchased a new position in shares of California Resources in the third quarter valued at $682,000. Swiss National Bank increased its holdings in California Resources by 12.7% during the 3rd quarter. Swiss National Bank now owns 121,900 shares of the oil and gas producer’s stock valued at $6,396,000 after acquiring an additional 13,700 shares in the last quarter. Natixis Advisors LLC acquired a new position in California Resources during the third quarter worth about $579,000. Geode Capital Management LLC lifted its holdings in shares of California Resources by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer’s stock valued at $83,583,000 after purchasing an additional 55,815 shares in the last quarter. Finally, State Street Corp grew its position in shares of California Resources by 5.1% in the third quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock valued at $181,021,000 after purchasing an additional 168,278 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

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.