California Resources (NYSE:CRC) released its quarterly earnings data on Thursday. The oil and gas producer reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.57), Briefing.com reports. California Resources had a net margin of 8.36% and a negative return on equity of 18.81%. The firm had revenue of $653.00 million during the quarter, compared to analyst estimates of $674.43 million. During the same period in the prior year, the company earned ($0.29) EPS. The business’s quarterly revenue was up 18.9% compared to the same quarter last year.
Shares of California Resources stock traded down $1.22 on Friday, hitting $11.89. The stock had a trading volume of 4,169,200 shares, compared to its average volume of 2,191,820. The stock has a market capitalization of $639.77 million, a price-to-earnings ratio of 9.36 and a beta of 4.40. The company has a 50 day moving average of $17.43. California Resources has a twelve month low of $11.60 and a twelve month high of $50.34.
In other California Resources news, Director William E. Albrecht sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the director now owns 102,883 shares of the company’s stock, valued at approximately $2,057,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laurie Siegel bought 3,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were purchased at an average cost of $16.78 per share, with a total value of $50,340.00. Following the transaction, the director now directly owns 15,196 shares in the company, valued at approximately $254,988.88. The disclosure for this purchase can be found here. Insiders have sold a total of 30,000 shares of company stock valued at $600,000 in the last three months. Insiders own 3.50% of the company’s stock.
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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