Wall Street analysts expect that California Resources Corp (NYSE:CRC) will post $646.10 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for California Resources’ earnings, with estimates ranging from $641.00 million to $651.20 million. California Resources reported sales of $516.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 25.2%. The business is scheduled to issue its next earnings results on Monday, November 5th.

On average, analysts expect that California Resources will report full-year sales of $2.57 billion for the current year, with estimates ranging from $2.49 billion to $2.65 billion. For the next financial year, analysts expect that the business will post sales of $2.98 billion per share, with estimates ranging from $2.84 billion to $3.13 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for California Resources.

California Resources (NYSE:CRC) last released its quarterly earnings results on Thursday, August 2nd. The oil and gas producer reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.34). The company had revenue of $549.00 million for the quarter, compared to analyst estimates of $649.01 million. During the same quarter in the previous year, the business earned ($1.83) EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year.

CRC has been the topic of several research reports. ValuEngine upgraded shares of California Resources from a “hold” rating to a “buy” rating in a research note on Thursday, April 26th. Zacks Investment Research upgraded shares of California Resources from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Friday, July 20th. Bank of America set a $38.00 price target on shares of California Resources and gave the company a “buy” rating in a research note on Friday, May 4th. Societe Generale downgraded shares of California Resources from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. Finally, Imperial Capital set a $41.00 price target on shares of California Resources and gave the company an “outperform” rating in a research note on Thursday, May 17th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. California Resources has a consensus rating of “Buy” and a consensus price target of $31.25.

Shares of CRC stock traded up $0.31 on Tuesday, hitting $29.27. The company’s stock had a trading volume of 1,605,687 shares, compared to its average volume of 1,980,928. The company has a debt-to-equity ratio of -7.87, a quick ratio of 0.56 and a current ratio of 0.63. California Resources has a fifty-two week low of $6.47 and a fifty-two week high of $48.85. The company has a market capitalization of $1.69 billion, a PE ratio of -6.65 and a beta of 5.59.

Institutional investors have recently made changes to their positions in the business. Graham Capital Management L.P. acquired a new stake in California Resources during the first quarter worth about $5,092,000. Deprince Race & Zollo Inc. acquired a new stake in California Resources during the second quarter worth about $750,000. Elephas Investment Management Ltd grew its stake in California Resources by 15.1% during the first quarter. Elephas Investment Management Ltd now owns 1,544,668 shares of the oil and gas producer’s stock worth $26,491,000 after buying an additional 203,000 shares in the last quarter. Wells Fargo & Company MN grew its stake in California Resources by 37.1% during the fourth quarter. Wells Fargo & Company MN now owns 67,670 shares of the oil and gas producer’s stock worth $1,316,000 after buying an additional 18,299 shares in the last quarter. Finally, KBC Group NV acquired a new stake in California Resources during the first quarter worth about $746,000. Hedge funds and other institutional investors own 75.37% of the company’s stock.

About California Resources

California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. The company sells crude oil, natural gas, and natural gas liquids to marketers, California refineries, and other purchasers that have access to transportation and storage facilities.

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Earnings History and Estimates for California Resources (NYSE:CRC)

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