California Resources Corporation (NYSE:CRC) – Investment analysts at Imperial Capital issued their Q3 2017 earnings per share (EPS) estimates for shares of California Resources Corporation in a research note issued on Tuesday. Imperial Capital analyst J. Wangler anticipates that the oil and gas producer will post earnings of ($1.72) per share for the quarter. Imperial Capital currently has a “In-Line” rating and a $12.00 target price on the stock. Imperial Capital also issued estimates for California Resources Corporation’s Q4 2017 earnings at ($1.69) EPS, FY2017 earnings at ($6.26) EPS and FY2018 earnings at ($4.20) EPS.

California Resources Corporation (NYSE:CRC) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported ($1.83) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.63) by ($0.20). The business had revenue of $516.00 million during the quarter, compared to analysts’ expectations of $450.17 million. During the same period in the previous year, the business earned ($1.80) earnings per share. The business’s revenue for the quarter was up 62.8% on a year-over-year basis.

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Several other research analysts have also issued reports on CRC. ValuEngine raised California Resources Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th. Zacks Investment Research raised California Resources Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub lowered California Resources Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. Morgan Stanley reissued an “equal weight” rating on shares of California Resources Corporation in a research report on Saturday, September 16th. Finally, Bank of America Corporation lowered California Resources Corporation from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $22.00 to $10.00 in a research report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.33.

Shares of California Resources Corporation (NYSE:CRC) opened at 10.41 on Thursday. The firm has a market cap of $445.26 million, a PE ratio of 0.94 and a beta of 6.35. The firm has a 50-day moving average price of $8.50 and a 200-day moving average price of $10.18. California Resources Corporation has a 52 week low of $6.47 and a 52 week high of $23.42.

Several large investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of California Resources Corporation by 23.1% in the 2nd quarter. State Street Corp now owns 3,588,170 shares of the oil and gas producer’s stock worth $30,673,000 after acquiring an additional 672,825 shares in the last quarter. Vanguard Group Inc. raised its position in shares of California Resources Corporation by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,848,193 shares of the oil and gas producer’s stock worth $15,803,000 after acquiring an additional 84,072 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of California Resources Corporation by 193.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,103,278 shares of the oil and gas producer’s stock worth $9,434,000 after acquiring an additional 727,264 shares in the last quarter. Crescent Park Management L.P. raised its position in shares of California Resources Corporation by 37.3% in the 2nd quarter. Crescent Park Management L.P. now owns 1,013,766 shares of the oil and gas producer’s stock worth $8,668,000 after acquiring an additional 275,318 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of California Resources Corporation by 6.4% in the 1st quarter. Bank of America Corp DE now owns 815,237 shares of the oil and gas producer’s stock worth $12,262,000 after acquiring an additional 48,767 shares in the last quarter. 74.80% of the stock is owned by hedge funds and other institutional investors.

California Resources Corporation Company Profile

California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produced approximately 140 thousand barrels of oil equivalent per day (MBoe/d), as of December 31, 2016. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe).

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