Analysts predict that California Resources Corp (NYSE:CRC) will post sales of $671.25 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for California Resources’ earnings. The highest sales estimate is $703.00 million and the lowest is $639.50 million. California Resources reported sales of $1.08 billion in the same quarter last year, which would suggest a negative year over year growth rate of 37.8%. The firm is expected to issue its next earnings report on Wednesday, February 26th.

On average, analysts expect that California Resources will report full-year sales of $2.75 billion for the current financial year, with estimates ranging from $2.66 billion to $2.83 billion. For the next year, analysts expect that the firm will report sales of $2.47 billion, with estimates ranging from $2.24 billion to $2.71 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover California Resources.

California Resources (NYSE:CRC) last posted its earnings results on Thursday, October 31st. The oil and gas producer reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.72. California Resources had a negative return on equity of 23.46% and a net margin of 12.41%. The firm had revenue of $681.00 million during the quarter, compared to analysts’ expectations of $620.31 million. During the same period in the previous year, the firm earned $0.81 earnings per share. The company’s revenue was down 17.8% on a year-over-year basis.

A number of research analysts have issued reports on CRC shares. Imperial Capital reissued a “buy” rating and issued a $11.00 target price on shares of California Resources in a research note on Wednesday, November 27th. Zacks Investment Research cut California Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, ValuEngine cut California Resources from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. California Resources presently has a consensus rating of “Hold” and a consensus price target of $21.83.

NYSE:CRC traded up $0.19 on Monday, reaching $8.79. The company’s stock had a trading volume of 2,173,188 shares, compared to its average volume of 3,229,005. California Resources has a 1-year low of $4.68 and a 1-year high of $30.18. The firm has a market cap of $398.84 million, a PE ratio of 6.66 and a beta of 4.40. The business’s 50-day moving average price is $7.63 and its two-hundred day moving average price is $11.86.

Institutional investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of California Resources in the third quarter valued at about $589,000. Gabelli Funds LLC lifted its holdings in shares of California Resources by 14.7% in the second quarter. Gabelli Funds LLC now owns 97,558 shares of the oil and gas producer’s stock valued at $1,920,000 after purchasing an additional 12,500 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of California Resources by 1,590.0% in the second quarter. Cubist Systematic Strategies LLC now owns 141,705 shares of the oil and gas producer’s stock valued at $2,789,000 after purchasing an additional 133,320 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of California Resources by 272.5% in the second quarter. First Trust Advisors LP now owns 154,698 shares of the oil and gas producer’s stock valued at $3,044,000 after purchasing an additional 113,173 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of California Resources by 2.3% in the second quarter. Swiss National Bank now owns 85,989 shares of the oil and gas producer’s stock valued at $1,692,000 after purchasing an additional 1,900 shares in the last quarter. Institutional investors own 72.92% of the company’s stock.

California Resources Company Profile

California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. The company sells crude oil, natural gas, and natural gas liquids to marketers, California refineries, and other purchasers that have access to transportation and storage facilities.

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