California Resources (CRC) to Release Earnings on Tuesday

California Resources (NYSE:CRC) is set to release its earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.61 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

California Resources (NYSE:CRC) last announced its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.08). California Resources had a return on equity of 17.57% and a net margin of 20.14%. The firm had revenue of $726.00 million during the quarter, compared to analysts’ expectations of $553.47 million. During the same quarter in the previous year, the business earned $1.24 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts expect California Resources to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

California Resources Price Performance

Shares of NYSE:CRC opened at $51.68 on Friday. California Resources has a twelve month low of $37.21 and a twelve month high of $58.44. The company has a current ratio of 1.51, a quick ratio of 1.39 and a debt-to-equity ratio of 0.24. The company has a market cap of $3.55 billion, a PE ratio of 6.69 and a beta of 1.03. The company’s 50 day moving average is $53.95 and its 200 day moving average is $52.66.

California Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Wednesday, March 6th were paid a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.40%. California Resources’s payout ratio is currently 16.06%.

Wall Street Analyst Weigh In

CRC has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of California Resources in a report on Wednesday, March 6th. Barclays assumed coverage on California Resources in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $62.00 target price on the stock. Stifel Nicolaus lifted their price target on California Resources from $68.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, Mizuho lowered their price objective on California Resources from $69.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.57.

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.