Analysts forecast that California Resources Corp (NYSE:CRC) will announce $528.55 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for California Resources’ earnings, with estimates ranging from $511.10 million to $546.00 million. California Resources reported sales of $590.00 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.4%. The company is scheduled to report its next earnings report on Thursday, May 3rd.

On average, analysts expect that California Resources will report full year sales of $528.55 million for the current financial year, with estimates ranging from $2.21 billion to $2.24 billion. For the next year, analysts expect that the business will post sales of $2.29 billion per share, with estimates ranging from $2.12 billion to $2.45 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for California Resources.

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California Resources (NYSE:CRC) last released its earnings results on Monday, February 26th. The oil and gas producer reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.21. The firm had revenue of $455.00 million during the quarter, compared to the consensus estimate of $540.57 million. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.76) EPS.

A number of analysts recently weighed in on CRC shares. Societe Generale upgraded California Resources from a “hold” rating to a “buy” rating and boosted their target price for the stock from $17.91 to $25.00 in a research report on Friday, February 9th. Bank of America upgraded California Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th. Zacks Investment Research upgraded California Resources from a “sell” rating to a “hold” rating in a research report on Tuesday. Goldman Sachs Group upgraded California Resources from a “sell” rating to a “neutral” rating and set a $27.50 target price for the company in a research report on Thursday, February 1st. Finally, Imperial Capital upgraded California Resources from an “in-line” rating to an “outperform” rating and set a $26.00 target price for the company in a research report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $23.42.

In related news, Director Harry T. Mcmahon acquired 35,530 shares of the stock in a transaction on Thursday, March 1st. The stock was purchased at an average price of $14.18 per share, for a total transaction of $503,815.40. Following the completion of the transaction, the director now owns 48,773 shares of the company’s stock, valued at approximately $691,601.14. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.91% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CRC. Elephas Investment Management Ltd bought a new stake in California Resources in the fourth quarter valued at approximately $26,082,000. Masters Capital Management LLC bought a new stake in California Resources in the fourth quarter valued at approximately $19,440,000. State Street Corp lifted its position in California Resources by 23.1% in 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 during the last quarter. Key Square Capital Management LLC bought a new stake in California Resources in the fourth quarter valued at approximately $10,471,000. Finally, Restructuring Capital Associates LP lifted its position in California Resources by 39.5% in the third quarter. Restructuring Capital Associates LP now owns 1,730,838 shares of the oil and gas producer’s stock valued at $18,105,000 after purchasing an additional 490,408 shares during the last quarter. Hedge funds and other institutional investors own 75.11% of the company’s stock.

California Resources (CRC) traded up $0.40 during trading hours on Friday, reaching $14.71. The company had a trading volume of 752,213 shares, compared to its average volume of 1,850,000. The company has a market cap of $630.59, a P/E ratio of -2.35 and a beta of 6.34. California Resources has a one year low of $6.47 and a one year high of $25.06. The company has a quick ratio of 0.58, a current ratio of 0.66 and a debt-to-equity ratio of -7.37.

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About California Resources

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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