California Resources (NYSE:CRC) Announces Earnings Results

California Resources (NYSE:CRC) posted its quarterly 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. California Resources had a negative net margin of 1.06% and a negative return on equity of 26.12%.

California Resources stock opened at $1.33 on Friday. California Resources has a 52-week low of $0.85 and a 52-week high of $20.78. The firm has a 50 day moving average price of $1.65 and a two-hundred day moving average price of $4.73. The firm has a market cap of $69.10 million, a price-to-earnings ratio of -2.18 and a beta of 5.73.

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

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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Earnings History for California Resources (NYSE:CRC)

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