Capital One Financial Comments on CRC FY2025 Earnings

California Resources Co. (NYSE:CRC - Free Report) - Equities researchers at Capital One Financial raised their FY2025 earnings per share estimates for shares of California Resources in a research note issued on Wednesday, January 8th. Capital One Financial analyst P. Johnston now forecasts that the oil and gas producer will post earnings of $3.62 per share for the year, up from their previous forecast of $2.78. Capital One Financial has a "Strong-Buy" rating on the stock. The consensus estimate for California Resources' current full-year earnings is $3.58 per share.

California Resources (NYSE:CRC - Get Free Report) last released its earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.62. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $973.13 million. During the same quarter in the previous year, the business posted $1.02 EPS. The business's revenue for the quarter was up 194.1% on a year-over-year basis.

Several other equities research analysts have also recently commented on CRC. Stephens assumed coverage on California Resources in a research note on Tuesday, October 22nd. They issued an "overweight" rating and a $73.00 price target for the company. Truist Financial assumed coverage on California Resources in a report on Monday. They issued a "buy" rating and a $75.00 price objective on the stock. TD Cowen increased their price objective on California Resources from $65.00 to $74.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. StockNews.com upgraded California Resources from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Finally, Jefferies Financial Group assumed coverage on California Resources in a report on Thursday, October 24th. They issued a "buy" rating and a $64.00 price objective on the stock. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, California Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.83.

California Resources Stock Up 1.7 %

NYSE:CRC traded up $0.89 on Monday, hitting $53.62. 177,426 shares of the company's stock traded hands, compared to its average volume of 826,823. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. California Resources has a 1 year low of $43.09 and a 1 year high of $60.41. The firm has a 50-day moving average price of $54.89 and a 200-day moving average price of $52.48. The company has a market cap of $4.90 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 1.35 and a beta of 1.05.

California Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.3875 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.55 annualized dividend and a dividend yield of 2.89%. California Resources's dividend payout ratio is 24.41%.

Insider Activity

In related 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 directly owns 30,940 shares in the company, valued at approximately $1,707,269.20. This represents a 34.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Noelle M. Repetti sold 8,770 shares of the company's stock in a transaction on 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 owns 8,531 shares of the company's stock, valued at $475,603.25. The trade was a 50.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Point72 Asset Management L.P. raised its stake in California Resources by 2,615.2% during the second quarter. Point72 Asset Management L.P. now owns 843,011 shares of the oil and gas producer's stock worth $44,865,000 after acquiring an additional 811,963 shares in the last quarter. Samlyn Capital LLC acquired a new position in California Resources during the second quarter worth $28,566,000. Weiss Asset Management LP acquired a new position in California Resources during the third quarter worth $28,043,000. American Century Companies Inc. raised its stake in California Resources by 18.1% during the second quarter. American Century Companies Inc. now owns 1,631,432 shares of the oil and gas producer's stock worth $86,825,000 after acquiring an additional 250,367 shares in the last quarter. Finally, State Street Corp raised its stake in California Resources by 5.1% during the third quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer's stock worth $181,021,000 after acquiring an additional 168,278 shares in the last quarter. 97.79% of the stock is currently 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.