California Resources (NYSE:CRC – Get Free Report) released its quarterly earnings results on Tuesday. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.17, Briefing.com reports. California Resources had a net margin of 20.14% and a return on equity of 17.57%. The business had revenue of $454.00 million for the quarter, compared to analyst estimates of $490.21 million. During the same quarter in the previous year, the business earned $2.63 earnings per share. The firm’s revenue was down 55.7% compared to the same quarter last year.
California Resources Stock Performance
Shares of NYSE CRC traded up $0.48 during trading hours on Thursday, hitting $50.57. 90,326 shares of the stock were exchanged, compared to its average volume of 846,133. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.51 and a quick ratio of 1.39. The company’s 50 day moving average is $53.83 and its 200 day moving average is $52.58. The firm has a market capitalization of $3.48 billion, a P/E ratio of 6.49 and a beta of 1.03. California Resources has a one year low of $37.21 and a one year high of $58.44.
California Resources Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Wednesday, March 6th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Tuesday, March 5th. California Resources’s dividend payout ratio is currently 16.06%.
Analyst Upgrades and Downgrades
Read 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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