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

California Resources (NYSE:CRC) announced its quarterly earnings data on Thursday. The oil and gas producer reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate 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%.

Shares of California Resources stock opened at $1.33 on Friday. The company’s fifty day simple moving average is $1.65 and its two-hundred day simple moving average is $4.73. The company has a market cap of $69.10 million, a P/E ratio of -2.18 and a beta of 5.73. California Resources has a 12-month low of $0.85 and a 12-month 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 report on Monday, March 9th. Zacks Investment Research upgraded shares of California Resources from a “sell” rating to a “hold” rating in a report on Monday. Raymond James downgraded 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. California Resources currently has a consensus rating of “Hold” and an average 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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