As of close of business last night, California Resources Corporation’s stock clocked out at $56.08, down -0.14% from its previous closing price of $56.16. In other words, the price has decreased by -$0.08 from its previous closing price. On the day, 681539 shares were traded.
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Ratios:
To gain a deeper understanding of CRC’s stock, we examine its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 7.83 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 8.44. For the most recent quarter (mrq), Quick Ratio is recorded 1.39 and its Current Ratio is at 1.51. In the meantime, Its Debt-to-Equity ratio is 0.27 whereas as Long-Term Debt/Eq ratio is at 0.27.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, BofA Securities on January 05, 2024, Downgraded its rating to Neutral and sets its target price to $60 from $64 previously.
On February 24, 2023, BofA Securities Upgraded its rating to Buy which previously was Neutral and also upped its target price recommendation from $51 to $60.
On January 10, 2023, Mizuho started tracking the stock assigning a Buy rating and target price of $60.Mizuho initiated its Buy rating on January 10, 2023, with a $60 target price.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, CRC now has a Market Capitalization of 3.89B and an Enterprise Value of 4.00B. As of this moment, California’s Price-to-Earnings (P/E) ratio for their current fiscal year is 7.26, and their Forward P/E ratio for the next fiscal year is 7.26. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.04. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.38 while its Price-to-Book (P/B) ratio in mrq is 1.74. Its current Enterprise Value per Revenue stands at 1.42 whereas that against EBITDA is 3.89.
Stock Price History:
Over the past 52 weeks, CRC has reached a high of $58.44, while it has fallen to a 52-week low of $35.19. The 50-Day Moving Average of the stock is 51.99, while the 200-Day Moving Average is calculated to be 51.78.
Shares Statistics:
It appears that CRC traded 961.28K shares on average per day over the past three months and 2.23M shares per day over the past ten days. A total of 68.69M shares are outstanding, with a floating share count of 57.89M. Insiders hold about 16.43% of the company’s shares, while institutions hold 89.36% stake in the company. Shares short for CRC as of Feb 29, 2024 were 5.16M with a Short Ratio of 5.36, compared to 5.02M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 7.44% and a Short% of Float of 8.32%.
Dividends & Splits
With its trailing 12-month dividend rate of 1.16, CRC has a forward annual dividend rate of 1.19. Against a Trailing Annual Dividend Yield of 2.06%, it implies a Forward Annual Dividend Yield of 2.21%. The current Payout Ratio is 14.88% for CRC, which recently paid a dividend on Mar 18, 2024 with an ex-dividend date of Mar 05, 2024. Stock splits for the company last occurred on Jun 01, 2016 when the company split stock in a 1:10 ratio.
Earnings Estimates
As of right now, 3 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of $0.84 for the current quarter, with a high estimate of $1.28 and a low estimate of $0.52, while EPS last year was $2.63. The consensus estimate for the next quarter is $1, with high estimates of $1.36 and low estimates of $0.72.
Analysts are recommending an EPS of between $7.87 and $4.22 for the fiscal current year, implying an average EPS of $5.99. EPS for the following year is $7.73, with 4 analysts recommending between $11.38 and $5.27.
Revenue Estimates
In the current quarter, 3 analysts expect revenue to total $645.71M. It ranges from a high estimate of $922.34M to a low estimate of $467M. As of the current estimate, California Resources Corporation’s year-ago sales were $702.47M, an estimated decrease of -8.10% from the year-ago figure. For the next quarter, 3 analysts are estimating revenue of $656.99M, an increase of 22.40% over than the figure of -$8.10% in the same quarter last year. There is a high estimate of $959.47M for the next quarter, whereas the lowest estimate is $477M.
A total of 3 analysts have provided revenue estimates for CRC’s current fiscal year. The highest revenue estimate was $3.76B, while the lowest revenue estimate was $2.81B, resulting in an average revenue estimate of $3.22B. In the same quarter a year ago, actual revenue was $2.81B, up 14.40% from the average estimate. Based on 3 analysts’ estimates, the company’s revenue will be $3.73B in the next fiscal year. The high estimate is $3.97B and the low estimate is $3.52B. The average revenue growth estimate for next year is up 15.90% from the average revenue estimate for this year.
