Q4 EPS Forecast for California Resources Reduced by Analyst

California Resources Co. (NYSE:CRC) – Investment analysts at Roth Capital dropped their Q4 2024 earnings per share estimates for California Resources in a research report issued to clients and investors on Tuesday, February 18th. Roth Capital analyst L. Mariani now forecasts that the oil and gas producer will earn $0.85 per share for the quarter, down from their prior forecast of $0.89. The consensus estimate for California Resources’ current full-year earnings is $3.85 per share. Roth Capital also issued estimates for California Resources’ Q1 2025 earnings at $0.71 EPS, Q2 2025 earnings at $0.62 EPS, Q3 2025 earnings at $1.36 EPS, Q4 2025 earnings at $0.82 EPS and FY2025 earnings at $3.51 EPS.

A number of other brokerages have also weighed in on CRC. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 target price on shares of California Resources in a research report on Tuesday, January 14th. TD Cowen boosted their price target on shares of California Resources from $65.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Jefferies Financial Group assumed coverage on shares of California Resources in a report on Thursday, October 24th. They set a “buy” rating and a $64.00 price objective on the stock. StockNews.com upgraded California Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Capital One Financial raised California Resources to a “strong-buy” rating in a research report on Monday, December 9th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.25.

California Resources Trading Up 1.0 %

CRC stock opened at $48.71 on Wednesday. The firm’s 50-day moving average is $51.19 and its 200 day moving average is $52.27. 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 12 month low of $43.09 and a 12 month high of $60.41. The company has a market capitalization of $4.45 billion, a PE ratio of 7.67, a P/E/G ratio of 0.99 and a beta of 1.04.

Insider Activity at California Resources

In related news, EVP Omar Hayat sold 16,016 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was 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 of the company’s stock, valued at $1,707,269.20. This trade represents a 34.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.63% of the stock is currently owned by insiders.

Institutional Trading of California Resources

Several hedge funds and other institutional investors have recently bought and sold shares of CRC. GSA Capital Partners LLP purchased a new position in shares of California Resources in the 3rd quarter valued at $682,000. Swiss National Bank raised its position in shares of 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 acquiring an additional 13,700 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 valued at $83,583,000 after buying an additional 55,815 shares during the period. Natixis Advisors LLC acquired a new position in California Resources in the third quarter valued at approximately $579,000. Finally, State Street Corp grew its stake in California Resources by 5.1% during 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. 97.79% of the stock is owned by hedge funds and other institutional investors.

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.