California Resources (NYSE:CRC – Get Free Report) released its quarterly earnings results on Tuesday. The oil and gas producer reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.36), Briefing.com reports. California Resources had a return on equity of 11.00% and a net margin of 11.34%. The business had revenue of $514.00 million during the quarter, compared to analyst estimates of $477.07 million. During the same period in the previous year, the company posted $0.53 EPS. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year.
California Resources Stock Up 6.1 %
NYSE CRC traded up $2.62 on Wednesday, hitting $45.91. 764,821 shares of the stock traded hands, compared to its average volume of 907,226. The company has a current ratio of 1.41, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3.15 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 0.83 and a beta of 0.98. California Resources has a twelve month low of $43.09 and a twelve month high of $58.44. The stock has a 50-day moving average of $49.81 and a 200 day moving average of $51.46.
Insider Activity at California Resources
In other California Resources news, Director Mark Allen Mcfarland sold 37,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $48.10, for a total value of $1,779,700.00. Following the transaction, the director now owns 104,939 shares of the company’s stock, valued at $5,047,565.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.03% of the company’s stock.
Analyst Ratings Changes
View Our Latest Analysis on CRC
About California Resources
California Resources Corporation operates as an independent oil and natural gas exploration and production, and carbon management company in the United States. The company explores, produces, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities.
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