By otakuyassine3@gmail.com 
California Resources Co. (NYSE:CRC – Free Report) – Equities researchers at Capital One Financial decreased their Q1 2025 EPS estimates for shares of California Resources in a research report issued to clients and investors on Tuesday, March 4th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will post earnings of $0.74 per share for the quarter, down from their previous estimate of $0.82. Capital One Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for California Resources’ current full-year earnings is $3.85 per share.
California Resources (NYSE:CRC – Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.05). The firm had revenue of $877.00 million for the quarter, compared to analysts’ expectations of $901.36 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%.
Several other analysts also recently weighed in on CRC. Truist Financial initiated 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 on the stock. Barclays lowered their price objective on California Resources from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price target on shares of California Resources in a research note on Tuesday, January 14th. StockNews.com upgraded shares of California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, JPMorgan Chase & Co. assumed coverage on California Resources in a research report on Friday, December 20th. They issued a “neutral” rating and a $63.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.08.
Read Our Latest Stock Analysis on CRC
California Resources Stock Up 1.5 %
California Resources stock opened at $40.89 on Wednesday. California Resources has a 1-year low of $38.02 and a 1-year high of $60.41. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 1.02 and a beta of 1.06. 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 business has a fifty day moving average price of $49.34 and a 200-day moving average price of $51.96.
California Resources Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Monday, March 10th. California Resources’s payout ratio is presently 24.41%.
Insider Buying and Selling at California Resources
In other 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 transaction of $883,762.88. Following the sale, the executive vice president now owns 30,940 shares of the company’s stock, valued at approximately $1,707,269.20. This represents a 34.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James N. Chapman purchased 2,000 shares of California Resources stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the transaction, the director now directly owns 43,445 shares in the company, valued at $1,712,601.90. This represents a 4.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.03% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in California Resources by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 9,345,789 shares of the oil and gas producer’s stock worth $484,953,000 after buying an additional 225,620 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of California Resources by 14.2% during the fourth quarter. First Trust Advisors LP now owns 6,818,266 shares of the oil and gas producer’s stock worth $353,800,000 after buying an additional 845,694 shares during the period. State Street Corp increased its position in California Resources by 5.1% in the 3rd quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock valued at $181,021,000 after acquiring an additional 168,278 shares during the period. American Century Companies Inc. lifted its position in California Resources by 14.2% during the 4th quarter. American Century Companies Inc. now owns 2,327,712 shares of the oil and gas producer’s stock worth $120,785,000 after acquiring an additional 290,263 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of California Resources by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,605,779 shares of the oil and gas producer’s stock valued at $83,344,000 after purchasing an additional 13,116 shares during the period. Hedge funds and other institutional investors own 97.79% 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.
Further Reading
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