California Resources (NYSE:CRC) issued its earnings results on Thursday. The oil and gas producer reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.89, Briefing.com reports. The business had revenue of $828.00 million for the quarter, compared to the consensus estimate of $689.83 million. California Resources’s revenue for the quarter was up 86.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.22) EPS.
CRC stock opened at $29.84 on Friday. California Resources has a 12 month low of $11.19 and a 12 month high of $50.34. The company has a market capitalization of $1.52 billion, a PE ratio of -6.78 and a beta of 5.49.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of California Resources from a “sell” rating to a “hold” rating and set a $52.00 target price for the company in a research report on Wednesday, October 3rd. ValuEngine upgraded shares of California Resources from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 19th. Societe Generale upgraded shares of California Resources from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, Evercore ISI started coverage on shares of California Resources in a research report on Friday, September 21st. They issued an “outperform” rating and a $55.00 price objective for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $35.79.
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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