What is Roth Capital's Forecast for CRC Q3 Earnings?

California Resources Co. (NYSE:CRC - Free Report) - Equities researchers at Roth Capital reduced their Q3 2026 earnings estimates for California Resources in a research report issued on Monday, April 14th. Roth Capital analyst L. Mariani now expects that the oil and gas producer will earn $1.01 per share for the quarter, down from their previous estimate of $1.22. The consensus estimate for California Resources' current full-year earnings is $3.85 per share. Roth Capital also issued estimates for California Resources' Q4 2026 earnings at $0.59 EPS.

California Resources (NYSE:CRC - Get Free Report) last issued its earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.05). California Resources had a return on equity of 12.16% and a net margin of 17.43%. The firm had revenue of $877.00 million during the quarter, compared to analysts' expectations of $901.36 million.

CRC has been the subject of several other reports. Royal Bank of Canada decreased their price objective on shares of California Resources from $68.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Citigroup downgraded California Resources from a "buy" rating to a "neutral" rating and lowered their price target for the company from $62.00 to $36.00 in a report on Monday, April 7th. Truist Financial assumed coverage on California Resources in a research note on Monday, January 13th. They set a "buy" rating and a $75.00 price objective on the stock. Barclays decreased their target price on California Resources from $57.00 to $55.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. initiated coverage on California Resources in a report on Friday, December 20th. They set a "neutral" rating and a $63.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $63.83.

California Resources Trading Up 3.0 %

Shares of NYSE CRC traded up $1.02 during midday trading on Wednesday, hitting $35.65. The stock had a trading volume of 528,667 shares, compared to its average volume of 852,241. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. California Resources has a 1-year low of $30.97 and a 1-year high of $60.41. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 1.02 and a beta of 1.03. The company has a fifty day moving average price of $41.75 and a 200 day moving average price of $49.42.

California Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date was Monday, March 10th. California Resources's payout ratio is currently 37.71%.

Insider Activity

In related news, Director James N. Chapman bought 2,000 shares of California Resources stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $39.42 per share, with a total value of $78,840.00. Following the completion of the acquisition, the director now directly owns 43,445 shares in the company, valued at approximately $1,712,601.90. This trade represents a 4.83 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.03% of the stock is owned by insiders.

Institutional Investors Weigh In On California Resources

Several hedge funds have recently made changes to their positions in the company. R Squared Ltd acquired a new stake in California Resources during the 4th quarter valued at $31,000. Harbor Capital Advisors Inc. increased its holdings in California Resources by 68.8% in the first quarter. Harbor Capital Advisors Inc. now owns 775 shares of the oil and gas producer's stock worth $34,000 after buying an additional 316 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of California Resources by 331.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer's stock worth $53,000 after purchasing an additional 812 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in California Resources by 71.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer's stock valued at $56,000 after buying an additional 454 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in California Resources by 22.8% in the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer's stock worth $62,000 after purchasing an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 97.79% 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.