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

NYSE

Website

crc.com

CEO

Todd Stevens

Incorporated

Delaware

Location

California

Fiscal year end

Dec 31

Sector

Mining, Quarrying, and Oil and Gas Extraction > Crude Petroleum and Natural Gas Extraction

Industry (SIC)

Crude Petroleum & Natural Gas

Petroleo Brasileiro S.A. Petrobras • Occidental Petroleum • Anadarko Petroleum • Apache • Chesapeake Energy • Devon Energy • Marathon Oil • EOG Resources • Pressburg • Ovintiv ...

SEC CIK

0001609253

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

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

1M 1Y 5Y

News

From Benzinga Pro

5 Value Stocks In The Energy Sector

11 Aug 22

What is a Value Stock? A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock.

Overview Of Value Stocks In The Energy Sector

4 Aug 22

The Meaning Behind Value Stocks A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock.

California Resources Q2 EPS $1.13, Same YoY

3 Aug 22

California Resources (NYSE:CRC) reported quarterly earnings of $1.13 per share. This is unchanged from the same period last year.

TechnipFMC plc (FTI) Q2 Earnings Lag Estimates, Sales Beat

2 Aug 22

MKM Partners Assumes California Resources at Buy, Announces Price Target of $48

20 Jul 22

Press releases

From Benzinga Pro

California Resources Corporation Releases 2021 Sustainability Report Detailing ESG Performance and Progress on Sustainability Initiatives

10 Aug 22

California Resources Corporation (NYSE:CRC) today announced the publication of its 2021 Sustainability Report. The report provides an overview of CRC's continuous progress on its sustainability efforts in environmental,

California Resources Corporation Announces the Formation of a California Carbon Management Partnership with Brookfield Renewable, Reports Strong Second Quarter 2022 Results and Increases Full Year 2022 Free Cash Flow1 Guidance

3 Aug 22

California Resources Corporation (NYSE:CRC), an independent oil and natural gas company committed to energy transition in the sector, today announced the formation of a joint venture (the "JV") with Brookfield

California Resources Corporation Pledges $2.5 Million to Fund Kern County Community Initiatives to Advance the Energy Transition

2 Aug 22

California Resources Corporation (NYSE:CRC) is pleased to announce it has pledged $2.5 million to fund several Kern County initiatives with Kern Community College District (Kern CCD) and California State University,

California Resources Corporation Announces Amendments to Consent Solicitation

15 Jun 22

California Resources Corporation Announces Extension of Consent Solicitation

13 Jun 22

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

Financial summary

Financial statements Chart CRC financial data

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

Financial data from company earnings reports.

Recent insider trades

CRC insider ownership history Insider history

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

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

CRC institutional ownership history Ownership history

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%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

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

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