California Resources (CRC) to Release Quarterly Earnings on Tuesday

California Resources (NYSE:CRC - Get Free Report) will be posting its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect California Resources to post earnings of $0.61 per share for the quarter. Individual interested in listening to the company's earnings conference call can do so using this link.

California Resources (NYSE:CRC - Get Free Report) last announced its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.08). The business had revenue of $726.00 million for the quarter, compared to analysts' expectations of $553.47 million. California Resources had a return on equity of 17.57% and a net margin of 20.14%. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.24 earnings per share. On average, analysts expect California Resources to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

California Resources Stock Down 4.8 %

NYSE CRC traded down $2.68 during trading on Tuesday, hitting $52.86. The company's stock had a trading volume of 481,069 shares, compared to its average volume of 871,725. California Resources has a fifty-two week low of $37.21 and a fifty-two week high of $58.44. The company has a market cap of $3.63 billion, a PE ratio of 6.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.51 and a quick ratio of 1.39. The business's 50 day simple moving average is $54.14 and its 200-day simple moving average is $52.70.

California Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Wednesday, March 6th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Tuesday, March 5th. California Resources's dividend payout ratio (DPR) is presently 16.06%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of California Resources from $68.00 to $69.00 and gave the company a "buy" rating in a research note on Tuesday, April 23rd. Bank of America lowered California Resources from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $64.00 to $60.00 in a research note on Friday, January 5th. Barclays started coverage on California Resources in a research report on Wednesday, April 10th. They set an "equal weight" rating and a $62.00 price target for the company. Mizuho cut their price objective on California Resources from $69.00 to $63.00 and set a "buy" rating on the stock in a report on Friday, March 22nd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $70.00 target price on shares of California Resources in a report on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.57.

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.