Capital One Financial Has Negative View of CRC Q1 Earnings

California Resources Co. (NYSE:CRC) – Equities researchers at Capital One Financial dropped their Q1 2025 earnings estimates for California Resources in a note issued to investors on Tuesday, March 4th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will earn $0.74 per share for the quarter, down from their previous estimate of $0.82. Capital One Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for California Resources’ current full-year earnings is $3.85 per share.

California Resources (NYSE:CRC) last released its quarterly earnings data on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.05). The firm had revenue of $877.00 million during the quarter, compared to the consensus estimate of $901.36 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%.

CRC has been the subject of a number of other research reports. JPMorgan Chase & Co. started coverage on California Resources in a research note on Friday, December 20th. They issued a “neutral” rating and a $63.00 target price for the company. TD Cowen increased their price target on shares of California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial assumed coverage on shares of California Resources in a research report on Monday, January 13th. They set a “buy” rating and a $75.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of California Resources in a report on Tuesday, January 14th. Finally, Barclays cut their price objective on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.08.

California Resources Stock Performance

Shares of CRC opened at $40.37 on Wednesday. California Resources has a 12 month low of $38.02 and a 12 month high of $60.41. The firm has a market cap of $3.69 billion, a PE ratio of 6.36, a P/E/G ratio of 1.02 and a beta of 1.06. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $49.55 and a 200-day moving average price of $52.04.

California Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Monday, March 10th. California Resources’s dividend payout ratio (DPR) is 24.41%.

Insider Buying and Selling

In other California Resources news, EVP Omar Hayat sold 16,016 shares of the 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 sale, the executive vice president now owns 30,940 shares in the company, valued at approximately $1,707,269.20. This represents a 34.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.03% of the stock is owned by insiders.

Hedge Funds Weigh In On California Resources

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of California Resources by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 9,345,789 shares of the oil and gas producer’s stock worth $484,953,000 after buying an additional 225,620 shares during the period. First Trust Advisors LP increased its stake in California Resources by 14.2% during the fourth quarter. First Trust Advisors LP now owns 6,818,266 shares of the oil and gas producer’s stock worth $353,800,000 after acquiring an additional 845,694 shares during the last quarter. State Street Corp raised its holdings 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 purchasing an additional 168,278 shares during the period. American Century Companies Inc. grew its holdings in shares of California Resources by 14.2% during the 4th quarter. American Century Companies Inc. now owns 2,327,712 shares of the oil and gas producer’s stock worth $120,785,000 after purchasing an additional 290,263 shares during the period. Finally, Geode Capital Management LLC raised its holdings in California Resources by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,605,779 shares of the oil and gas producer’s stock valued at $83,344,000 after buying an additional 13,116 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.