California Resources Co. (NYSE:CRC - Free Report) - Stock analysts at Roth Capital dropped their Q4 2024 earnings per share estimates for California Resources in a research report issued to clients and investors on Tuesday, February 18th. Roth Capital analyst L. Mariani now expects that the oil and gas producer will post earnings per share of $0.85 for the quarter, down from their prior forecast of $0.89. The consensus estimate for California Resources' current full-year earnings is $3.85 per share. Roth Capital also issued estimates for California Resources' Q1 2025 earnings at $0.71 EPS, Q2 2025 earnings at $0.62 EPS, Q3 2025 earnings at $1.36 EPS, Q4 2025 earnings at $0.82 EPS and FY2025 earnings at $3.51 EPS.
A number of other analysts have also commented on the company. TD Cowen lifted their price objective on California Resources from $65.00 to $74.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Truist Financial began coverage on California Resources in a research report on Monday, January 13th. They issued a "buy" rating and a $75.00 price objective for the company. Royal Bank of Canada restated an "outperform" rating and set a $70.00 target price on shares of California Resources in a research report on Tuesday, January 14th. Jefferies Financial Group began 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, Capital One Financial upgraded California Resources to a "strong-buy" rating in a research report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $67.25.
Check Out Our Latest Stock Report on CRC
California Resources Trading Down 3.0 %
CRC stock traded down $1.47 during midday trading on Wednesday, reaching $47.32. The stock had a trading volume of 725,221 shares, compared to its average volume of 703,027. The business has a fifty day simple moving average of $50.90 and a two-hundred day simple moving average of $52.27. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 1.01 and a beta of 1.04. California Resources has a twelve month low of $43.09 and a twelve month high of $60.41.
Insider Activity
In other California Resources news, EVP Omar Hayat sold 16,016 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now owns 30,940 shares in the company, valued at approximately $1,707,269.20. The trade was a 34.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.03% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On California Resources
Several institutional investors have recently bought and sold shares of CRC. First Trust Advisors LP lifted its stake in California Resources by 14.2% in the 4th quarter. First Trust Advisors LP now owns 6,818,266 shares of the oil and gas producer's stock valued at $353,800,000 after acquiring an additional 845,694 shares in the last quarter. Weiss Asset Management LP bought a new stake in California Resources in the 3rd quarter valued at approximately $28,043,000. Palo Duro Investment Partners LP bought a new stake in California Resources in the 4th quarter valued at approximately $20,752,000. American Century Companies Inc. lifted its stake in California Resources by 14.2% in the 4th quarter. American Century Companies Inc. now owns 2,327,712 shares of the oil and gas producer's stock valued at $120,785,000 after acquiring an additional 290,263 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in California Resources by 285.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 318,593 shares of the oil and gas producer's stock valued at $16,532,000 after acquiring an additional 235,955 shares in the last quarter. Institutional investors own 97.79% of the company's stock.
California Resources Company Profile
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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.
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