California Resources Corporation (CRC) To Go Ex-Dividend on September 4th

California Resources Corporation (NYSE:CRC) declared a quarterly dividend on Monday, August 10th. Investors of record on Friday, September 4th will be paid a dividend of 0.405 per share by the oil and gas producer on Friday, September 18th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 4th.

California Resources has a dividend payout ratio of 45.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect California Resources to earn $3.34 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 48.5%.

California Resources Trading Up 1.4%

Shares of CRC stock opened at $53.79 on Wednesday. California Resources has a 52-week low of $43.24 and a 52-week high of $71.98. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of -39.55 and a beta of 0.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.56 and a current ratio of 0.66. The firm has a fifty day moving average of $52.57 and a 200-day moving average of $58.70.

California Resources (NYSE:CRC) last issued its earnings results on Monday, August 10th. The oil and gas producer reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.37). California Resources had a negative net margin of 3.79% and a positive return on equity of 9.82%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $960.20 million. During the same quarter last year, the firm posted $1.10 earnings per share. California Resources’s revenue was up 33.0% on a year-over-year basis. On average, equities research analysts forecast that California Resources will post 3.63 earnings per share for the current fiscal year.

About California Resources

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.