California Resources (CRC) to Release Earnings on Tuesday

California Resources (NYSE:CRC) will issue its quarterly 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. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

California Resources (NYSE:CRC) last announced its quarterly earnings results on Tuesday, February 27th. The oil and gas producer reported $0.93 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 company had revenue of $726.00 million for the quarter, compared to analyst estimates of $553.47 million. During the same quarter in the prior year, the business earned $1.24 earnings per share. California Resources’s revenue 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 Stock Performance

NYSE CRC opened at $51.68 on Friday. The company has a fifty day moving average of $53.95 and a two-hundred day moving average of $52.66. The company has a market capitalization of $3.55 billion, a PE ratio of 6.69 and a beta of 1.03. California Resources has a 1 year low of $37.21 and a 1 year high of $58.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.51 and a quick ratio of 1.39.

California Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Wednesday, March 6th were given a $0.31 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.40%. California Resources’s dividend payout ratio (DPR) is presently 16.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CRC. Mizuho reduced their price objective on California Resources from $69.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Barclays started coverage on shares of California Resources in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $62.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price objective on shares of California Resources in a research note on Wednesday, March 6th. Finally, Stifel Nicolaus increased their target price on shares of California Resources from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.