California Resources (NYSE:CRC) released its earnings results on Monday. The oil and gas producer reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.39, Bloomberg Earnings reports. The business had revenue of $455.00 million for the quarter, compared to analyst estimates of $540.57 million. During the same quarter in the previous year, the company posted ($1.76) earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis.
California Resources (CRC) opened at $20.11 on Tuesday. The company has a debt-to-equity ratio of -8.78, a current ratio of 0.61 and a quick ratio of 0.53. California Resources has a 52-week low of $6.47 and a 52-week high of $25.06.
A number of research analysts have issued reports on the stock. Societe Generale downgraded shares of California Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of California Resources from a “sell” rating to a “hold” rating and set a $26.00 target price on the stock in a research report on Thursday, January 18th. Bank of America upgraded shares of California Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th. Morgan Stanley upgraded shares of California Resources from an “equal weight” rating to an “overweight” rating and set a $12.00 target price on the stock in a research report on Tuesday, November 7th. Finally, Goldman Sachs Group upgraded shares of California Resources from a “sell” rating to a “neutral” rating and set a $27.50 target price on the stock in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. California Resources presently has a consensus rating of “Hold” and a consensus target price of $23.42.
California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produced approximately 140 thousand barrels of oil equivalent per day (MBoe/d), as of December 31, 2016. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe).
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