Analysts Anticipate California Resources Corp (CRC) to Post -$0.47 EPS
Analysts expect that California Resources Corp (NYSE:CRC) will report ($0.47) earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for California Resources’ earnings. The highest EPS estimate is ($0.30) and the lowest is ($0.70). California Resources posted earnings per share of ($1.76) during the same quarter last year, which indicates a positive year over year growth rate of 73.3%. The company is scheduled to issue its next earnings results after the market closes on Monday, February 26th.
According to Zacks, analysts expect that California Resources will report full-year earnings of ($4.65) per share for the current fiscal year, with EPS estimates ranging from ($5.00) to ($4.36). For the next financial year, analysts anticipate that the business will report earnings of ($2.49) per share, with EPS estimates ranging from ($4.05) to $0.01. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for California Resources.
California Resources (NYSE:CRC) last issued its quarterly earnings results on Monday, November 6th. The oil and gas producer reported ($1.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.61) by $0.39. The company had revenue of $455.00 million during the quarter, compared to analyst estimates of $476.87 million. The business’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm earned ($1.75) EPS.
CRC has been the topic of several recent research reports. ValuEngine upgraded California Resources from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th. Imperial Capital started coverage on California Resources in a report on Tuesday, October 3rd. They issued an “in-line” rating and a $12.00 price objective on the stock. Morgan Stanley lifted their price objective on California Resources from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Zacks Investment Research raised California Resources from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective on the stock in a report on Wednesday, October 18th. Finally, Societe Generale raised California Resources from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.75.
California Resources (NYSE CRC) opened at $23.67 on Thursday. The stock has a market capitalization of $1,010.00, a PE ratio of -4.73 and a beta of 6.63. California Resources has a 52-week low of $6.47 and a 52-week high of $23.81. The company has a debt-to-equity ratio of -8.78, a current ratio of 0.61 and a quick ratio of 0.53.
Large investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of California Resources during the 3rd quarter worth approximately $117,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of California Resources by 5.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,620 shares of the oil and gas producer’s stock worth $116,000 after acquiring an additional 743 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of California Resources during the 3rd quarter worth approximately $164,000. Bayesian Capital Management LP purchased a new stake in shares of California Resources during the 2nd quarter worth approximately $141,000. Finally, BlueCrest Capital Management Ltd boosted its stake in shares of California Resources by 17.5% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 16,808 shares of the oil and gas producer’s stock worth $144,000 after acquiring an additional 2,509 shares in the last quarter. 75.22% of the stock is currently owned by institutional investors and hedge funds.
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California Resources Company Profile
California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produced approximately 140 thousand barrels of oil equivalent per day (MBoe/d), as of December 31, 2016. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe).
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