California Resources (CRC) Set to Announce Quarterly Earnings on Tuesday

California Resources (NYSE:CRC - Get Free Report) will announce its earnings results after the market closes on Tuesday, November 5th. Analysts expect the company to announce earnings of $0.88 per share for the quarter. Investors that wish to listen to the company's conference call can do so using this link.

California Resources (NYSE:CRC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.36). California Resources had a net margin of 7.61% and a return on equity of 11.27%. The company had revenue of $514.00 million for the quarter, compared to the consensus estimate of $477.07 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. California Resources's revenue was down 13.0% compared to the same quarter last year. On average, analysts expect California Resources to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

California Resources Stock Performance

NYSE CRC traded down $0.31 during trading hours on Tuesday, hitting $52.09. The company's stock had a trading volume of 360,687 shares, compared to its average volume of 857,707. California Resources has a 12 month low of $43.09 and a 12 month high of $57.88. The company's 50 day simple moving average is $51.72 and its two-hundred day simple moving average is $50.74. The company has a market cap of $3.57 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.43 and a quick ratio of 2.33.

California Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 2.98%. This is an increase from California Resources's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, August 30th. California Resources's dividend payout ratio is presently 44.41%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRC. Barclays upped their price target on California Resources from $55.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 3rd. Stephens assumed coverage on California Resources in a research report on Tuesday, October 22nd. They set an "overweight" rating and a $73.00 target price for the company. UBS Group assumed coverage on California Resources in a research report on Wednesday, October 16th. They set a "buy" rating and a $68.00 target price for the company. Jefferies Financial Group assumed coverage on California Resources in a research report on Thursday, October 24th. They set a "buy" rating and a $64.00 target price for the company. Finally, Royal Bank of Canada restated an "outperform" rating and set a $65.00 price target on shares of California Resources in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.50.

Insiders Place Their Bets

In other news, VP Noelle M. Repetti sold 10,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.00, for a total transaction of $530,000.00. Following the transaction, the vice president now owns 17,301 shares of the company's stock, valued at approximately $916,953. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Noelle M. Repetti sold 10,000 shares of the firm's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.00, for a total transaction of $530,000.00. Following the sale, the vice president now owns 17,301 shares of the company's stock, valued at $916,953. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christian S. Kendall purchased 20,895 shares of the stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of $47.97 per share, with a total value of $1,002,333.15. Following the acquisition, the director now owns 24,600 shares of the company's stock, valued at approximately $1,180,062. This represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.03% 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.