California Resources (NYSE:CRC) Releases Earnings Results, Misses Estimates By $0.05 EPS

California Resources (NYSE:CRC) issued its earnings results on Monday. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.05), Zacks reports. California Resources had a return on equity of 12.16% and a net margin of 17.43%.

California Resources Price Performance

Shares of NYSE CRC opened at $44.62 on Monday. The firm has a market capitalization of $4.08 billion, a P/E ratio of 7.03, a P/E/G ratio of 1.02 and a beta of 1.04. 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 stock’s 50-day simple moving average is $50.24 and its two-hundred day simple moving average is $52.28. California Resources has a twelve month low of $43.09 and a twelve month high of $60.41.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRC. TD Cowen raised their price objective on shares of California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Capital One Financial raised shares of California Resources to a “strong-buy” rating in a research report on Monday, December 9th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of California Resources in a report on Tuesday, January 14th. StockNews.com raised California Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, JPMorgan Chase & Co. assumed coverage on California Resources in a research report on Friday, December 20th. They set a “neutral” rating and a $63.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.25.

Insider Transactions at California Resources

In related news, 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. The trade was a 34.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.03% of the stock is owned by insiders.

California Resources Company Profile

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.