California Resources Corporation (NYSE:CRC) Declares Quarterly Dividend of $0.41

Key Points

• California Resources declared a quarterly dividend of $0.405 per share, payable September 18 to shareholders of record September 4. The annualized payout is approximately $1.62 per share, implying a yield near 3% and a payout ratio supported by earnings.
• Second-quarter revenue rose 33% year over year to approximately $1.30 billion, exceeding estimates, while the company generated $263 million in operating cash flow and maintained $1.322 billion in liquidity.
• Adjusted earnings of $0.99 per share fell short of analyst expectations of roughly $1.31–$1.36 and declined from $1.10 a year earlier, despite stronger revenue. CRC also agreed to acquire Crimson Midstream Holdings for $63 million to expand its California energy infrastructure platform.

California Resources Corporation (NYSE:CRC - Get Free Report) declared a quarterly dividend on Monday, August 10th. Investors of record on Friday, September 4th will be paid a dividend of 0.405 per share by the oil and gas producer on Friday, September 18th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, September 4th.

California Resources has a payout ratio of 45.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect California Resources to earn $2.72 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 59.6%.

California Resources Price Performance

NYSE CRC traded up $1.77 during trading hours on Monday, reaching $53.85. The company's stock had a trading volume of 1,764,884 shares, compared to its average volume of 896,249. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of -10.36 and a beta of 0.93. The company's 50-day moving average is $54.18 and its two-hundred day moving average is $58.62. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.55 and a quick ratio of 0.47. California Resources has a 1-year low of $43.24 and a 1-year high of $71.98.

California Resources (NYSE:CRC - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The oil and gas producer reported $0.99 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.37). The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $960.20 million. California Resources had a negative net margin of 16.10% and a positive return on equity of 10.12%. The firm's revenue for the quarter was up 33.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 earnings per share. On average, equities analysts predict that California Resources will post 4.02 EPS for the current year.

California Resources News Summary

Here are the key news stories impacting California Resources this week:

• Positive Sentiment: CRC reported second-quarter revenue of approximately $1.30 billion, up 33% year over year and well above the roughly $960 million analyst estimate. The company also generated $263 million in operating cash flow and ended the quarter with $1.322 billion in liquidity. California Resources Corporation Reports Second Quarter 2026 Financial and Operating Results
• Positive Sentiment: The oil and gas producer agreed to acquire Crimson Midstream Holdings for $63 million in cash. The deal is intended to expand CRC’s integrated California energy infrastructure platform and could support operational integration over time. California Resources Corporation Expands Integrated California Energy Infrastructure Platform Through Strategic Midstream Acquisition
• Positive Sentiment: CRC declared a quarterly dividend of $0.405 per share, payable September 18 to shareholders of record September 4. The dividend implies an annualized payout of approximately $1.62 per share and a yield near 3%, providing shareholder income.
• Neutral Sentiment: Management reaffirmed full-year 2026 capital spending guidance of $520 million to $560 million while reducing expected drilling, completion and workover spending to $370 million to $390 million. Average production was 149 thousand barrels of oil equivalent per day, with oil comprising 81% of output.
• Neutral Sentiment: Reported net income was $514 million, or $5.76 per diluted share, but included a non-cash gain from changes in commodity-derivative fair values. This makes the headline profit less indicative of recurring operating performance.
• Negative Sentiment: Adjusted quarterly earnings of $0.99 per share missed analyst estimates ranging from $1.31 to $1.36 and declined from $1.10 a year earlier. The earnings shortfall is the main factor limiting the stock’s upside despite stronger-than-expected sales.
• Negative Sentiment: Reported insider activity showed selling and no purchases over the past six months, including a large sale by the Canada Pension Plan Investment Board. Such transactions may weigh on investor sentiment, although they do not necessarily reflect CRC’s operating outlook.

About California Resources

California Resources Corporation NYSE: CRC is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC's operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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