Q3 2018 EPS Estimates for California Resources Corp (CRC) Increased by Imperial Capital

California Resources Corp (NYSE:CRC) – Investment analysts at Imperial Capital increased their Q3 2018 earnings per share estimates for California Resources in a research report issued to clients and investors on Thursday, October 4th. Imperial Capital analyst J. Wangler now forecasts that the oil and gas producer will earn $0.02 per share for the quarter, up from their prior forecast of ($0.17). Imperial Capital also issued estimates for California Resources’ Q4 2018 earnings at ($0.27) EPS, FY2018 earnings at ($0.36) EPS and FY2019 earnings at $4.21 EPS.

CRC has been the subject of several other research reports. Zacks Investment Research upgraded California Resources from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Friday, July 20th. Evercore ISI assumed coverage on California Resources in a research note on Friday, September 21st. They issued an “outperform” rating and a $55.00 price target for the company. Finally, ValuEngine lowered California Resources from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 11th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $35.79.

Shares of California Resources stock opened at $44.55 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of -7.87. California Resources has a twelve month low of $8.84 and a twelve month high of $50.34. The stock has a market capitalization of $2.35 billion, a P/E ratio of -10.16 and a beta of 5.55.

California Resources (NYSE:CRC) last announced its quarterly earnings results on Thursday, August 2nd. The oil and gas producer reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.34). The company had revenue of $549.00 million during the quarter, compared to analysts’ expectations of $649.01 million. During the same period in the previous year, the company posted ($1.83) EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year.

A number of hedge funds have recently bought and sold shares of CRC. Point72 Asia Hong Kong Ltd acquired a new stake in California Resources in the 1st quarter worth about $119,000. Guidant Wealth Advisors boosted its holdings in California Resources by 7,327.0% in the 2nd quarter. Guidant Wealth Advisors now owns 4,679 shares of the oil and gas producer’s stock worth $129,000 after buying an additional 4,616 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in California Resources by 1,469.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 7,692 shares of the oil and gas producer’s stock worth $132,000 after buying an additional 7,202 shares during the last quarter. BlueMountain Capital Management LLC acquired a new stake in California Resources in the 2nd quarter worth about $185,000. Finally, SG Americas Securities LLC acquired a new stake in California Resources in the 2nd quarter worth about $216,000. Institutional investors own 72.26% 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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Earnings History and Estimates for California Resources (NYSE:CRC)

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