| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 0/6 |
| Past Performance | 2/6 |
| Financial Health | 4/6 |
| Dividends | 2/6 |
CRC Stock Overview
California Resources Corporation operates as an independent oil and natural gas company.
California Resources Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$46.18 |
| 52 Week High | US$50.44 |
| 52 Week Low | US$27.31 |
| Beta | 0 |
| 1 Month Change | 12.61% |
| 3 Month Change | 13.44% |
| 1 Year Change | 56.33% |
| 3 Year Change | n/a |
| 5 Year Change | n/a |
| Change since IPO | 207.87% |
Recent News & Updates
California Resources GAAP EPS of $0.16, revenue of $220.6M
California Resources press release (NYSE:CRC): Q2 GAAP EPS of €0.16. Revenue of €220.6M (+23.8% Y/Y).
California Resources: Hedging Strategy To Change
CRC was spun off from OXY in late 2014 and saddled with $6.4 billion of debt. Oil prices collapsed in 2015/16 and again in 2020, pushing CRC into bankruptcy because its oil hedges did not protect against very low prices. CRC emerged from Chapter 11 with oil hedges that limited CRC's potential upside. CRC amassed large hedge losses during the oil price spike this year. The company has indicated that its hedging strategy will change.
Shareholder Returns
| CRC | US Oil and Gas | US Market | |
|---|---|---|---|
| 7D | 4.1% | 4.8% | 3.6% |
| 1Y | 56.3% | 58.5% | -9.6% |
Return vs Industry: CRC underperformed the US Oil and Gas industry which returned 58.5% over the past year.
Return vs Market: CRC exceeded the US Market which returned -9.6% over the past year.
Price Volatility
| CRC volatility | |
|---|---|
| CRC Average Weekly Movement | 6.6% |
| Oil and Gas Industry Average Movement | 8.8% |
| Market Average Movement | 7.7% |
| 10% most volatile stocks in US Market | 16.9% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: CRC is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: CRC's weekly volatility (7%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2014 | 970 | Mac McFarland | https://www.crc.com |
California Resources Corporation operates as an independent oil and natural gas company. The company explores for, produces, gathers, processes, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities. As of December 31, 2021, it had interests in approximately 1.9 million net mineral acres with proved reserves totaled an estimated 480 million barrels of oil equivalent.
California Resources Fundamentals Summary
| CRC fundamental statistics | |
|---|---|
| Market Cap | US$3.48b |
| Earnings (TTM) | US$832.00m |
| Revenue (TTM) | US$2.98b |
4.2x
P/E Ratio1.2x
P/S RatioIs CRC overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| CRC income statement (TTM) | |
|---|---|
| Revenue | US$2.98b |
| Cost of Revenue | US$1.10b |
| Gross Profit | US$1.88b |
| Other Expenses | US$1.05b |
| Earnings | US$832.00m |
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | 11.04 |
| Gross Margin | 63.18% |
| Net Profit Margin | 27.90% |
| Debt/Equity Ratio | 39.0% |
How did CRC perform over the long term?
See historical performance and comparisonDividends
1.5%
Current Dividend Yield5%
Payout RatioDoes CRC pay a reliable dividends?
See CRC dividend history and benchmarks| California Resources dividend dates | |
|---|---|
| Ex Dividend Date | Aug 31 2022 |
| Dividend Pay Date | Sep 16 2022 |
| Days until Ex dividend | 14 days |
| Days until Dividend pay date | 30 days |
Does CRC pay a reliable dividends?
See CRC dividend history and benchmarksValuation
Is CRC undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
5/6Valuation Score 5/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast
Key Valuation Metric
Which metric is best to use when looking at relative valuation for CRC?
Other financial metrics that can be useful for relative valuation.
| What is CRC's n/a Ratio? | |
|---|---|
| n/a Ratio | 0x |
| n/a | n/a |
| Market Cap | US$3.48b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 1.3x |
| Enterprise Value/EBITDA | 7.7x |
| PEG Ratio | -3.4x |
Price to Earnings Ratio vs Peers
How does CRC's PE Ratio compare to its peers?
| CRC PE Ratio vs Peers |
|---|
| Company | PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 9.6x | ||
BSM Black Stone Minerals | 12.2x | 25.0% | US$3.1b |
DEN Denbury | 11x | 9.3% | US$3.9b |
CRGY Crescent Energy | 0.9x | -13.4% | US$2.7b |
KOS Kosmos Energy | 14.5x | 1.8% | US$2.7b |
CRC California Resources | 4.2x | -1.2% | US$3.5b |
Price-To-Earnings vs Peers: CRC is good value based on its Price-To-Earnings Ratio (4.2x) compared to the peer average (9.6x).
Price to Earnings Ratio vs Industry
How does CRC's PE Ratio compare vs other companies in the US Oil and Gas Industry?
Price-To-Earnings vs Industry: CRC is good value based on its Price-To-Earnings Ratio (4.2x) compared to the US Oil and Gas industry average (9.7x)
Price to Earnings Ratio vs Fair Ratio
What is CRC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 4.2x |
| Fair PE Ratio | 14.2x |
Price-To-Earnings vs Fair Ratio: CRC is good value based on its Price-To-Earnings Ratio (4.2x) compared to the estimated Fair Price-To-Earnings Ratio (14.2x).
Share Price vs Fair Value
What is the Fair Price of CRC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: CRC ($46.18) is trading below our estimate of fair value ($175.05)
Significantly Below Fair Value: CRC is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.
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Future Growth
How is California Resources forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Future Growth Score
0/6Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
-1.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CRC's earnings are forecast to decline over the next 3 years (-1.2% per year).
Earnings vs Market: CRC's earnings are forecast to decline over the next 3 years (-1.2% per year).
High Growth Earnings: CRC's earnings are forecast to decline over the next 3 years.
Revenue vs Market: CRC's revenue is expected to decline over the next 3 years (-4.9% per year).
High Growth Revenue: CRC's revenue is forecast to decline over the next 3 years (-4.9% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CRC's Return on Equity is forecast to be low in 3 years time (12.1%).
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Past Performance
How has California Resources performed over the past 5 years?
Past Performance Score
2/6Past Performance Score 2/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
36.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CRC has a high level of non-cash earnings.
Growing Profit Margin: CRC's current net profit margins (27.9%) are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: CRC has become profitable over the past 5 years, growing earnings by 36.9% per year.
Accelerating Growth: CRC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CRC had negative earnings growth (-77.1%) over the past year, making it difficult to compare to the Oil and Gas industry average (188.3%).
Return on Equity
High ROE: CRC's Return on Equity (55.1%) is considered outstanding.
Discover strong past performing companies
Financial Health
How is California Resources's financial position?
Financial Health Score
4/6Financial Health Score 4/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: CRC's short term assets ($851.0M) do not cover its short term liabilities ($1.2B).
Long Term Liabilities: CRC's short term assets ($851.0M) do not cover its long term liabilities ($1.3B).
Debt to Equity History and Analysis
Debt Level: CRC's net debt to equity ratio (17.6%) is considered satisfactory.
Reducing Debt: CRC had negative shareholder equity 5 years ago, but is now positive and has therefore improved.
Debt Coverage: CRC's debt is well covered by operating cash flow (123%).
Interest Coverage: CRC's interest payments on its debt are well covered by EBIT (5.3x coverage).
Balance Sheet
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Dividend
What is California Resources's current dividend yield, its reliability and sustainability?
Dividend Score
2/6Dividend Score 2/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage
1.47%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: CRC's dividend (1.47%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.47%).
High Dividend: CRC's dividend (1.47%) is low compared to the top 25% of dividend payers in the US market (3.96%).
Stability and Growth of Payments
Stable Dividend: Too early to tell whether CRC's dividend payments have been stable as they only just started paying a dividend.
Growing Dividend: Too early to tell if CRC's dividend payments are increasing as they only just started paying a dividend.
Earnings Payout to Shareholders
Earnings Coverage: With its low payout ratio (4.9%), CRC's dividend payments are thoroughly covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its low cash payout ratio (12.4%), CRC's dividend payments are thoroughly covered by cash flows.
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Management
How experienced are the management team and are they aligned to shareholders interests?
1.6yrs
Average management tenure
CEO
Mac McFarland (53 yo)
1.67yrs
Tenure
US$17,583,281
Compensation
Mr. Mark Allen McFarland, also known as Mac, served as Chairman of the Board at California Resources Corporation since October 27, 2020 until April 2021 and serves as its Chief Executive Officer and Presid...
CEO Compensation Analysis
Compensation vs Market: Mac's total compensation ($USD17.58M) is above average for companies of similar size in the US market ($USD6.57M).
Compensation vs Earnings: Mac's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
Experienced Management: CRC's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.
Board Members
Experienced Board: CRC's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
California Resources Corporation's employee growth, exchange listings and data sources
Key Information
- Name: California Resources Corporation
- Ticker: CRC
- Exchange: NYSE
- Founded: 2014
- Industry: Oil and Gas Exploration and Production
- Sector: Energy
- Implied Market Cap: US$3.481b
- Shares outstanding: 75.38m
- Website: https://www.crc.com
Number of Employees
Location
- California Resources Corporation
- 27200 Tourney Road
- Suite 200
- Santa Clarita
- California
- 91355
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/08/16 00:00 |
| End of Day Share Price | 2022/08/16 00:00 |
| Earnings | 2022/06/30 |
| Annual Earnings | 2021/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.