Loading...
Docoh

California Resources (CRC)

alifornia Resources Corporation is the largest oil and natural gas exploration and production company in California. The Company operates exclusively within the State of California, applying complementary and integrated infrastructure to gather, process and market its production. Using advanced technology, the Company focuses on safely and responsibly supplying affordable energy for California by Californians.

Company profile

Ticker
CRC, CRCQW
Exchange
Website
CEO
Todd Stevens
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
California Heavy Oil, Inc. • California Resources Coles Levee, LLC • California Resources Coles Levee, L.P. • California Resources Elk Hills, LLC • California Resources Long Beach, Inc. • California Resources Petroleum Corporation • California Resources Production Corporation • California Resources Real Estate Ventures, LLC • California Resources Royalty Holdings, LLC • California Resources Tidelands, Inc. ...

CRC stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 324M 324M 324M 324M 324M 324M
Cash burn (monthly) 1.33M (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 1.94M n/a n/a n/a n/a n/a
Cash remaining 322.06M n/a n/a n/a n/a n/a
Runway (months of cash) 241.5 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
14 Jun 22 Christopher D. Gould Common Stock Payment of exercise Dispose F No No 44.44 796 35.37K 37,784
4 May 22 Andrew B. Bremner Common Stock Grant Acquire A No No 0 4,587 0 13,459
4 May 22 Brady Nicole Elana Neeman Common Stock Grant Acquire A No No 0 4,587 0 9,543
4 May 22 Alejandra Veltmann Common Stock Grant Acquire A No No 0 4,587 0 6,499
6 Apr 22 Goldentree Asset Management Common Stock Sell Dispose S Yes No 44.07 29,302 1.29M 7,498,085
5 Apr 22 Goldentree Asset Management Common Stock Sell Dispose S Yes No 44.69 110,000 4.92M 7,527,387
5 Apr 22 Goldentree Asset Management Common Stock Sell Dispose S Yes No 43.99 90,000 3.96M 7,637,387
13F holders Current Prev Q Change
Total holders 216 174 +24.1%
Opened positions 58 41 +41.5%
Closed positions 16 18 -11.1%
Increased positions 75 56 +33.9%
Reduced positions 61 55 +10.9%
13F shares Current Prev Q Change
Total value 3.57B 3.51B +1.6%
Total shares 92.22M 94.48M -2.4%
Total puts 85.9K 107.5K -20.1%
Total calls 1.56M 1.14M +36.8%
Total put/call ratio 0.1 0.1 -41.6%
Largest owners Shares Value Change
BLK Blackrock 8.41M $376.14M -6.6%
FMR 7.86M $351.72M -14.3%
Goldentree Asset Management 7.73M $345.68M -18.9%
JB Investors 7.53M $185.94M 0.0%
Vanguard 7.49M $335.02M +1.1%
Gimbel Daniel Scott 6.24M $279.07M +0.0%
Solar Projects 6.15M $0 0.0%
ARES Ares Management 5.97M $266.82M -44.9%
STT State Street 3.3M $147.53M +21.2%
CVX Chevron 2.85M $0 0.0%
Largest transactions Shares Bought/sold Change
ARES Ares Management 5.97M -4.87M -44.9%
Goldentree Asset Management 7.73M -1.8M -18.9%
FMR 7.86M -1.31M -14.3%
Southpoint Capital Advisors 1M +1M NEW
BAC Bank Of America 248.3K -779.14K -75.8%
PFG Principal Financial Group Inc - Registered Shares 792.39K +692.93K +696.7%
Corvex Management 678.38K +678.38K NEW
Renaissance Technologies 853.14K +635.7K +292.4%
BLK Blackrock 8.41M -591.94K -6.6%
STT State Street 3.3M +576.04K +21.2%

Financial report summary

?
Management Discussion
  • Oil, natural gas and NGL sales — Oil, natural gas and NGL sales, excluding the effects of cash settlements on our commodity derivative contracts, were $718 million for the three months ended June 30, 2022, which is an increase of $90 million compared to $628 million for the three months ended March 31, 2022. This increase was primarily due to higher realized prices and higher NGL production after we resumed operation at one of our cryogenic gas processing facilities following planned maintenance in the first quarter of 2022. These increases were partially offset by lower oil production as a result of asset divestitures and natural decline.
  • Note: See Production for volumes by commodity type and Prices and Realizations for index and realized prices for comparative periods.
  • The effect of cash settlements on our commodity derivative contracts is not included in the table above. Payments on commodity derivatives were $241 million for the three months ended June 30, 2022 compared to payments of $181 million for the three months ended March 31, 2022. Including the effect of settlement payments for commodity derivatives, our oil, natural gas and NGL sales increased by $30 million, or 7% compared to the three months ended March 31, 2022.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore V good
New words: Appellate, BGTF, Brookfield, Buena, cease, CEQA, certified, chain, circulated, comparison, construction, costly, County, coverage, cyclical, decarbonization, decertify, delivered, EIR, exemption, experience, factor, frequently, front, fully, hearing, high, highly, inclusive, inflationary, inject, install, installment, inventory, jointly, Kern, lease, liquefied, liquified, litigation, LLC, meaningful, metric, mineral, ongoing, ordinance, outbreak, outpace, outpaced, oversight, partnership, pipe, Plaza, prolonged, raw, recession, recirculated, reimburse, reinstated, remedied, repair, resolution, resumed, resurgence, rose, run, Sacramento, scheduled, shareholder, Sierra, slightly, SoCal, specific, steel, strip, Supplemental, tight, trial, tubing, Vista, wholly, widespread, workover, world, worldwide, write, Zoning
Removed: back, curve, diligence, January, lender, made, making, notional, relating, represent, sequestration, spend