CRC Stock Recent News

Although the revenue and EPS for California Resources Corporation (CRC) give a sense of how its business performed in the quarter ended September 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

California Resources operates in an environment of limited new drilling due to regulatory and permitting challenges, forcing it to return money to shareholders and diversify its portfolio. CRC owns valuable land in California and has drilling expertise, which could potentially boost its value through royalty securitizations and deep geothermal energy projects. The company is managing its oil and gas assets for cash flow, and developing carbon capture initiatives and renewable-driven electrical generating programs to meet California's climate goals.

California Resources Corporation is an oil and natural gas company facing regulatory challenges in California but still appealing due to rising share prices and potential earnings growth. CRC focuses on providing affordable and dependable energy while embracing cleaner and more sustainable solutions, including investing in renewables. The company's solid earnings performance, stable production, and potential for strong return on investment make it an attractive investment option.

California Resources Corporation (OTCPK:CRCQW) Q2 2023 Earnings Conference Call August 1, 2023 1:00 PM ET Company Participants Joanna Park - Vice President, Investor Relations and Treasurer Francisco Leon - President and Chief Executive Officer Manuela Molina - Executive Vice President and Chief Financial Officer Chris Gould - Executive Vice President and Chief Sustainability Officer, and Managing Director, CTV Holdings Conference Call Participants Scott Hanold - RBC Capital Markets Kalei Akamine - Bank of America Nate Pendleton - Stifel Nitin Kumar - Mizuho Leo Mariani - ROTH MKM Noel Parks - Tuohy Brothers Investment Research Operator Good day and welcome to the California Resources Corporation Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.

California Resources Corporation (CRC) came out with quarterly earnings of $0.53 per share, missing the Zacks Consensus Estimate of $0.86 per share. This compares to earnings of $1.13 per share a year ago.

Having ended 2022 on a low note, U.S. market indexes have overall shown stronger performances so far in 2023.

LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) plans to release its second-quarter 2023 financial results on July 31st after market close. The Company will hold a conference call on Tuesday, August 1st at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time). We encourage participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10179237/f985ba358a. Callers who pre-register will be given a conference passcode and uni.

California Resources Corporation is a strong buy due to its record cash flows, share buybacks, and potential for growth in carbon capture and solar projects. CRC's solid financials, with a growing cash position and manageable long-term debts, support its ability to invest in renewable energy projects and maintain shareholder returns. Despite regulatory challenges in California, CRC's market position and push towards renewables make it an attractive investment with an estimated 20% upside.

Investors need to pay close attention to California Resources (CRC) stock based on the movements in the options market lately.

LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) announced today that it will host its first quarter 2023 financial results conference call on Tuesday, May 2nd at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time). The Company's earnings will be released the day before the conference call following the market close. We encourage participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10177066/f8cf780338.