Equities research analysts expect that California Resources Corp (NYSE:CRC) will post earnings per share (EPS) of $0.58 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for California Resources’ earnings, with estimates ranging from $0.28 to $0.80. California Resources reported earnings of $0.53 per share in the same quarter last year, which would suggest a positive year over year growth rate of 9.4%. The business is scheduled to announce its next earnings results on Wednesday, February 26th.

According to Zacks, analysts expect that California Resources will report full year earnings of $1.27 per share for the current year, with EPS estimates ranging from $0.97 to $1.50. For the next financial year, analysts expect that the firm will report earnings of ($0.67) per share, with EPS estimates ranging from ($4.39) to $2.53. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for California Resources.

California Resources (NYSE:CRC) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.72. California Resources had a negative return on equity of 23.46% and a net margin of 12.41%. The firm had revenue of $681.00 million during the quarter, compared to the consensus estimate of $620.31 million. During the same period in the prior year, the firm earned $0.81 EPS. The firm’s quarterly revenue was down 17.8% compared to the same quarter last year.

CRC has been the subject of several recent research reports. ValuEngine upgraded California Resources from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Imperial Capital reiterated a “buy” rating and issued a $11.00 price target on shares of California Resources in a report on Wednesday, November 27th. Finally, Zacks Investment Research upgraded California Resources from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.67.

NYSE CRC traded down $0.02 during trading hours on Tuesday, hitting $8.47. The company had a trading volume of 1,716,941 shares, compared to its average volume of 2,930,866. California Resources has a fifty-two week low of $4.68 and a fifty-two week high of $30.18. The company has a market capitalization of $417.02 million, a price-to-earnings ratio of 1.09 and a beta of 4.48. The firm’s 50 day moving average is $8.89 and its 200 day moving average is $10.20.

A number of hedge funds and other institutional investors have recently made changes to their positions in CRC. Squarepoint Ops LLC grew its stake in shares of California Resources by 100.0% during the third quarter. Squarepoint Ops LLC now owns 130,827 shares of the oil and gas producer’s stock valued at $1,334,000 after acquiring an additional 65,427 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of California Resources during the third quarter valued at about $589,000. Voloridge Investment Management LLC grew its stake in shares of California Resources by 26.9% during the third quarter. Voloridge Investment Management LLC now owns 154,128 shares of the oil and gas producer’s stock valued at $1,572,000 after acquiring an additional 32,641 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of California Resources by 21.6% during the third quarter. Gabelli Funds LLC now owns 118,658 shares of the oil and gas producer’s stock valued at $1,210,000 after acquiring an additional 21,100 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of California Resources by 1,590.0% during the second quarter. Cubist Systematic Strategies LLC now owns 141,705 shares of the oil and gas producer’s stock valued at $2,789,000 after acquiring an additional 133,320 shares in the last quarter. Hedge funds and other institutional investors own 72.91% of the company’s stock.

California Resources Company Profile

California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. The company sells crude oil, natural gas, and natural gas liquids to marketers, California refineries, and other purchasers that have access to transportation and storage facilities.

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