Roth Capital Issues Optimistic Estimate for CRC Earnings

California Resources Co. (NYSE:CRC - Free Report) - Equities researchers at Roth Capital lifted their Q1 2025 earnings estimates for California Resources in a report released on Monday, March 3rd. Roth Capital analyst L. Mariani now expects that the oil and gas producer will post earnings per share of $0.80 for the quarter, up from their previous forecast of $0.71. The consensus estimate for California Resources' current full-year earnings is $3.85 per share. Roth Capital also issued estimates for California Resources' Q2 2025 earnings at $0.70 EPS, Q3 2025 earnings at $1.42 EPS, Q4 2025 earnings at $0.91 EPS, FY2025 earnings at $3.83 EPS, Q1 2026 earnings at $0.63 EPS, Q2 2026 earnings at $0.63 EPS, Q3 2026 earnings at $1.22 EPS and Q4 2026 earnings at $0.72 EPS.

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

Several other brokerages have also recently issued reports on CRC. Royal Bank of Canada reissued an "outperform" rating and issued a $70.00 price objective on shares of California Resources in a report on Tuesday, January 14th. Capital One Financial raised shares of California Resources to a "strong-buy" rating in a report on Monday, December 9th. Truist Financial started coverage on shares of California Resources in a research report on Monday, January 13th. They set a "buy" rating and a $75.00 price target on the stock. Barclays decreased their price objective on shares of 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, TD Cowen raised their target price on California Resources from $65.00 to $74.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $67.08.

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California Resources Stock Performance

Shares of NYSE:CRC traded up $0.09 during trading on Thursday, hitting $41.58. The stock had a trading volume of 980,203 shares, compared to its average volume of 790,231. The stock has a 50-day simple moving average of $49.17 and a two-hundred day simple moving average of $51.92. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 6.55, a price-to-earnings-growth ratio of 1.02 and a beta of 1.06. 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 12-month low of $38.02 and a 12-month high of $60.41.

Institutional Investors Weigh In On California Resources

A number of institutional investors have recently made changes to their positions in the stock. R Squared Ltd purchased a new position in shares of California Resources during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC grew its stake in shares of California Resources by 331.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer's stock valued at $53,000 after buying an additional 812 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of California Resources by 71.6% in the 4th 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 during the period. GAMMA Investing LLC lifted its stake in California Resources by 22.8% during the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer's stock worth $62,000 after acquiring an additional 222 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in California Resources during the 3rd quarter valued at about $70,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other California Resources news, Director James N. Chapman bought 2,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $39.42 per share, with a total value of $78,840.00. Following the completion of the purchase, the director now directly owns 43,445 shares in the company, valued at $1,712,601.90. The trade was a 4.83 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Omar Hayat sold 16,016 shares of the company's stock in a transaction on Thursday, December 12th. The shares were 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 trade represents a 34.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.03% of the company's stock.

California Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Monday, March 10th. California Resources's payout ratio is 37.71%.

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.