California Resources (NYSE:CRC) Announces Earnings Results, Misses Estimates By $0.05 EPS

California Resources (NYSE:CRC) announced its quarterly earnings data on Monday. The oil and gas producer reported $0.91 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.05), Zacks reports. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm had revenue of $877.00 million for the quarter, compared to analysts’ expectations of $901.36 million.

California Resources Stock Performance

NYSE:CRC opened at $39.86 on Tuesday. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 6.28, a PEG ratio of 1.02 and a beta of 1.06. California Resources has a 1 year low of $39.17 and a 1 year high of $60.41. The stock’s 50 day simple moving average is $50.02 and its two-hundred day simple moving average is $52.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89.

Insider Activity

In other news, EVP Omar Hayat sold 16,016 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $55.18, for a total transaction of $883,762.88. Following the sale, the executive vice president now directly 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 the SEC website. Corporate insiders own 0.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CRC shares. StockNews.com raised shares of California Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Truist Financial began coverage on California Resources in a research report on Monday, January 13th. They issued a “buy” rating and a $75.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of California Resources in a research note on Tuesday, January 14th. JPMorgan Chase & Co. assumed coverage on shares of California Resources in a research report on Friday, December 20th. They set a “neutral” rating and a $63.00 target price for the company. Finally, Capital One Financial raised shares of California Resources to a “strong-buy” rating in a research report on Monday, December 9th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, California Resources has an average rating of “Moderate Buy” and a consensus target price of $67.25.

California Resources Company Profile

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.