CRC FY2025 EPS Forecast Reduced by Capital One Financial

California Resources Co. (NYSE:CRC) – Equities researchers at Capital One Financial cut their FY2025 earnings per share estimates for shares of California Resources in a report issued on Tuesday, January 14th. Capital One Financial analyst P. Johnston now expects that the oil and gas producer will earn $3.47 per share for the year, down from their prior estimate of $3.62. Capital One Financial has a “Strong-Buy” rating on the stock. The consensus estimate for California Resources’ current full-year earnings is $3.66 per share. Capital One Financial also issued estimates for California Resources’ FY2026 earnings at $3.35 EPS.

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

A number of other brokerages also recently issued reports on CRC. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of California Resources in a research report on Tuesday. 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 report on Thursday, October 3rd. UBS Group assumed coverage on shares of California Resources in a research report on Wednesday, October 16th. They issued a “buy” rating and a $68.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of California Resources in a research note on Thursday, October 24th. They issued a “buy” rating and a $64.00 target price on the stock. Finally, TD Cowen boosted their price target on shares of California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.25.

California Resources Stock Down 0.6 %

Shares of NYSE:CRC opened at $53.65 on Friday. The firm has a fifty day moving average price of $54.81 and a two-hundred day moving average price of $52.52. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 8.45, a PEG ratio of 1.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. California Resources has a one year low of $43.09 and a one year high of $60.41.

California Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Monday, December 2nd. California Resources’s payout ratio is presently 24.41%.

Insiders Place Their Bets

In other news, VP Noelle M. Repetti sold 8,770 shares of the firm’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 value of $488,927.50. Following the transaction, the vice president now owns 8,531 shares in the company, valued at approximately $475,603.25. This trade represents a 50.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Omar Hayat sold 16,016 shares of California Resources stock in a transaction on Thursday, December 12th. The stock was 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. The trade was a 34.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On California Resources

Large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of California Resources during the third quarter valued at about $682,000. Swiss National Bank increased its holdings in California Resources by 12.7% during the 3rd quarter. Swiss National Bank now owns 121,900 shares of the oil and gas producer’s stock valued at $6,396,000 after purchasing an additional 13,700 shares during the period. Natixis Advisors LLC bought a new position in California Resources during the 3rd quarter valued at approximately $579,000. Geode Capital Management LLC lifted its holdings in California Resources by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,592,663 shares of the oil and gas producer’s stock worth $83,583,000 after buying an additional 55,815 shares during the period. Finally, State Street Corp grew its position in shares of California Resources by 5.1% in the 3rd quarter. State Street Corp now owns 3,449,988 shares of the oil and gas producer’s stock worth $181,021,000 after buying an additional 168,278 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

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.