FY2025 EPS Estimates for CRC Raised by Capital One Financial

California Resources Co. (NYSE:CRC) – Equities researchers at Capital One Financial increased their FY2025 earnings per share (EPS) estimates for shares of California Resources in a note issued to investors on Wednesday, January 8th. Capital One Financial analyst P. Johnston now forecasts that the oil and gas producer will post earnings of $3.62 per share for the year, up from their previous estimate of $2.78. Capital One Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for California Resources’ current full-year earnings is $3.58 per share.

California Resources (NYSE:CRC) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.62. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $973.13 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The company’s revenue for the quarter was up 194.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 EPS.

Several other brokerages also recently weighed in on CRC. StockNews.com upgraded shares of California Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. JPMorgan Chase & Co. started coverage on California Resources in a report on Friday, December 20th. They issued a “neutral” rating and a $63.00 price objective on the stock. Stephens began coverage on California Resources in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 target price on the stock. Barclays lifted their price target on California Resources from $55.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. Finally, UBS Group initiated coverage on shares of California Resources in a research note on Wednesday, October 16th. They issued a “buy” rating and a $68.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, California Resources currently has a consensus rating of “Moderate Buy” and an average target price of $66.09.

California Resources Stock Performance

Shares of CRC stock opened at $52.78 on Monday. California Resources has a 1 year low of $43.09 and a 1 year high of $60.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.97. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 1.35 and a beta of 1.05. The stock’s 50-day moving average is $54.89 and its two-hundred day moving average is $52.48.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of California Resources by 61.5% during the third quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 371 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in California Resources during the 3rd quarter valued at approximately $70,000. KBC Group NV increased its holdings in California Resources by 29.1% during the 3rd quarter. KBC Group NV now owns 1,910 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 431 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of California Resources by 9.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock valued at $169,000 after purchasing an additional 276 shares in the last quarter. Finally, Atria Investments Inc purchased a new position in shares of California Resources during the 3rd quarter valued at approximately $209,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Buying and Selling at California Resources

In other California Resources news, VP Noelle M. Repetti sold 8,770 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.75, for a total transaction of $488,927.50. Following the completion of the sale, the vice president now directly owns 8,531 shares in the company, valued at $475,603.25. The trade was a 50.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Omar Hayat sold 16,016 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $55.18, for a total transaction 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. This represents a 34.11 % decrease in their position. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.

California Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.3875 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.55 annualized dividend and a yield of 2.94%. California Resources’s payout ratio is currently 24.41%.

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.