California Resources (CRC) Stock Price, News & Analysis

Company Overview

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. It also engages in the generation and sale of electricity to the wholesale power market and utility sector; and developing various carbon capture and storage projects in California. The company was incorporated in 2014 and is based in Long Beach, California.

Key Stats

• Today's Range: $58.60 to $59.46
• 50-Day Range: $48.78 to $59.25
• 52-Week Range: $43.09 to $60.41
• Volume: 53,012 shs
• Average Volume: 842,386 shs
• Market Capitalization: $4.03 billion
• P/E Ratio: 9.34
• Dividend Yield: 2.61%
• Price Target: $65.50
• Consensus Rating: Moderate Buy

California Resources Stock Analysis - MarketRank™

California Resources scored higher than 90% of companies evaluated by MarketBeat, and ranked 43rd out of 264 stocks in the oils/energy sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.5 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

California Resources has received a consensus rating of Moderate Buy. The company's average rating score is 2.90, and is based on 9 buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

California Resources has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 14.04%

Earnings Growth

Earnings for California Resources are expected to grow by 14.04% in the coming year, from $3.42 to $3.90 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of California Resources is 9.15, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 123.44.

Price to Earnings Ratio vs. Sector

The P/E ratio of California Resources is 9.15, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 14.91.

Price to Earnings Growth Ratio

California Resources has a PEG Ratio of 1.43. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

California Resources has a P/B Ratio of 1.13. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 4.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

4.48% of the float of California Resources has been sold short.

Short Interest Ratio / Days to Cover

California Resources has a short interest ratio ("days to cover") of 4.7.

Change versus previous month

Short interest in California Resources has recently decreased by 42.00%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

California Resources pays a meaningful dividend of 2.69%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

California Resources does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of California Resources is 24.41%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, California Resources will have a dividend payout ratio of 39.74% next year. This indicates that California Resources will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

4.48% of the float of California Resources has been sold short.

Short Interest Ratio / Days to Cover

California Resources has a short interest ratio ("days to cover") of 4.7.

Change versus previous month

Short interest in California Resources has recently decreased by 42.00%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 3.0 / 5
• News Sentiment: 0.46

News Sentiment

California Resources has a news sentiment score of 0.46. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.66 average news sentiment score of Oils/Energy companies.

News Coverage This Week

MarketBeat has tracked 6 news articles for California Resources this week, compared to 4 articles on an average week.

Search Interest

7 people have searched for CRC on MarketBeat in the last 30 days. This is an increase of 17% compared to the previous 30 days.

MarketBeat Follows

9 people have added California Resources to their MarketBeat watchlist in the last 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, California Resources insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,387,778.00 in company stock.

Percentage Held by Insiders

Only 0.03% of the stock of California Resources is held by insiders.

Percentage Held by Institutions

97.79% of the stock of California Resources is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

CRC Stock Analysis - Frequently Asked Questions

How have CRC shares performed this year?

California Resources' stock was trading at $54.68 on January 1st, 2024. Since then, CRC stock has increased by 6.3% and is now trading at $58.12.
View the best growth stocks for 2024 here.

How were California Resources' earnings last quarter?

California Resources Co. (NYSE:CRC) announced its quarterly earnings data on Tuesday, November, 5th. The oil and gas producer reported $1.50 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.62. The firm's revenue for the quarter was up 194.1% compared to the same quarter last year.

When did California Resources' stock split?

Shares of California Resources reverse split on Wednesday, June 1st 2016. The 1-10 reverse split was announced on Monday, May 9th 2016. The number of shares owned by shareholders was adjusted after the closing bell on Tuesday, May 31st 2016. An investor that had 100 shares of stock prior to the reverse split would have 10 shares after the split.

Who are California Resources' major shareholders?

California Resources' top institutional investors include State Street Corp (5.08%), FMR LLC (3.37%), Geode Capital Management LLC (2.35%) and Victory Capital Management Inc. (1.57%). Insiders that own company stock include Francisco Leon, Mark Allen Mcfarland, William B Roby, Christian S Kendall, Noelle M Repetti, Ares Management Llc and Goldentree Asset Management Lp.
View institutional ownership trends.

How do I buy shares of California Resources?

Shares of CRC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of California Resources own?

Based on aggregate information from My MarketBeat watchlists, some other companies that California Resources investors own include NVIDIA (NVDA), Advanced Micro Devices (AMD), Meta Platforms (META), Netflix (NFLX), Tesla (TSLA), Exxon Mobil (XOM) and Broadcom (AVGO).

Company Calendar

• Ex-Dividend for 9/16 Dividend: 8/30/2024
• Dividend Payable: 9/16/2024
• Last Earnings: 11/05/2024
• Today: 11/21/2024
• Ex-Dividend for 12/16 Dividend: 12/02/2024
• Dividend Payable: 12/16/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/25/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Oils/Energy
• Industry: Crude petroleum & natural gas
• Sub-Industry: Petroleum And Natural Gas
• Current Symbol: NYSE:CRC
• CUSIP: N/A
• CIK: 1609253
• Web: www.crc.com
• Phone: 888-848-4754
• Fax: N/A
• Employees: 1,060
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $65.50
• High Stock Price Target: $73.00
• Low Stock Price Target: $57.00
• Potential Upside/Downside: +12.7%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.90
• Research Coverage: 10 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $6.35
• Trailing P/E Ratio: 9.15
• Forward P/E Ratio: 16.99
• P/E Growth: 1.4
• Net Income: $564 million
• Net Margins: 17.43%
• Pretax Margin: 24.35%
• Return on Equity: 12.16%
• Return on Assets: 6.15%

Debt

• Debt-to-Equity Ratio: 0.32
• Current Ratio: 0.97
• Quick Ratio: 0.89

Sales & Book Value

• Annual Sales: $2.80 billion
• Price / Sales: 1.41
• Cash Flow: $8.94 per share
• Price / Cash Flow: 6.50
• Book Value: $32.34 per share
• Price / Book: 1.80

Miscellaneous

• Outstanding Shares: 67,880,000
• Free Float: 67,449,000
• Market Cap: $3.95 billion
• Optionable: Optionable
• Beta: 0.98