Wall Street brokerages expect California Resources Corp (NYSE:CRC) to announce ($0.73) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for California Resources’ earnings. The lowest EPS estimate is ($1.11) and the highest is ($0.47). California Resources posted earnings of ($1.02) per share during the same quarter last year, which indicates a positive year over year growth rate of 28.4%. The business is scheduled to announce its next quarterly earnings results on Thursday, May 3rd.
On average, analysts expect that California Resources will report full-year earnings of ($2.59) per share for the current fiscal year, with EPS estimates ranging from ($4.80) to ($0.22). For the next year, analysts anticipate that the firm will post earnings of ($3.53) per share, with EPS estimates ranging from ($3.84) to ($2.98). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow California Resources.
California Resources (NYSE:CRC) last released its quarterly earnings results on Monday, February 26th. The oil and gas producer reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.21. The company had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $540.57 million. During the same quarter in the previous year, the company posted ($1.76) EPS. The business’s quarterly revenue was up .7% on a year-over-year basis.
In related news, Director Harry T. Mcmahon acquired 35,530 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The shares were bought at an average price of $14.18 per share, with a total value of $503,815.40. Following the completion of the transaction, the director now directly owns 48,773 shares in the company, valued at $691,601.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.91% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in California Resources by 23.1% during the second quarter. State Street Corp now owns 3,588,170 shares of the oil and gas producer’s stock valued at $30,673,000 after purchasing an additional 672,825 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in California Resources during the second quarter valued at about $1,285,000. Engineers Gate Manager LP bought a new stake in California Resources during the fourth quarter valued at about $909,000. Vanguard Group Inc. boosted its position in California Resources by 4.8% during the second quarter. Vanguard Group Inc. now owns 1,848,193 shares of the oil and gas producer’s stock valued at $15,803,000 after purchasing an additional 84,072 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in California Resources by 4.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,812,300 shares of the oil and gas producer’s stock valued at $35,231,000 after purchasing an additional 70,300 shares in the last quarter. 75.11% of the stock is currently owned by institutional investors.
Shares of California Resources (NYSE CRC) opened at $14.47 on Friday. California Resources has a twelve month low of $6.47 and a twelve month high of $25.06. The firm has a market capitalization of $620.79, a price-to-earnings ratio of -2.32 and a beta of 6.25. The company has a current ratio of 0.66, a quick ratio of 0.58 and a debt-to-equity ratio of -7.37.
California Resources Company Profile
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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