California Resources (NYSE:CRC) Releases Earnings Results, Beats Expectations By $1.55 EPS

California Resources (NYSE:CRC) announced its earnings results on Thursday. The oil and gas producer reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.71) by $1.55, Fidelity Earnings reports. The firm had revenue of $573.00 million for the quarter, compared to analyst estimates of $505.75 million. California Resources had a negative net margin of 69.81% and a negative return on equity of 11.88%.

Shares of NYSE CRC opened at $1.28 on Friday. The firm’s 50 day moving average price is $1.63 and its 200-day moving average price is $4.70. The company has a market cap of $63.18 million, a PE ratio of -0.04 and a beta of 5.73. California Resources has a 52-week low of $0.85 and a 52-week high of $20.78.

A number of equities research analysts have recently weighed in on the stock. Bank of America lowered shares of California Resources from a “neutral” rating to an “underperform” rating in a research note on Monday, March 9th. Zacks Investment Research raised shares of California Resources from a “sell” rating to a “hold” rating in a research note on Monday, June 22nd. Raymond James lowered shares of California Resources from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 17th. Finally, ValuEngine raised shares of California Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. California Resources has a consensus rating of “Hold” and a consensus target price of $15.00.

About California Resources

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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Earnings History for California Resources (NYSE:CRC)

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