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
Industry (SIC)
SEC CIK
Corporate docs
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
News

5 Value Stocks In The Energy Sector
11 Aug 22
Overview Of Value Stocks In The Energy Sector
4 Aug 22
California Resources Q2 EPS $1.13, Same YoY
3 Aug 22
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
California Resources Corporation Releases 2021 Sustainability Report Detailing ESG Performance and Progress on Sustainability Initiatives
10 Aug 22
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 Pledges $2.5 Million to Fund Kern County Community Initiatives to Advance the Energy Transition
2 Aug 22
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
Investment data
Securities sold
Number of investors
Calendar
4 Aug 22
12 Aug 22
31 Dec 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
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Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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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 |
Recent insider trades
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 |
Institutional ownership, Q1 2022
13F holders | Current |
---|---|
Total holders | 216 |
Opened positions | 58 |
Closed positions | 16 |
Increased positions | 75 |
Reduced positions | 61 |
13F shares | Current |
---|---|
Total value | 3.57B |
Total shares | 92.22M |
Total puts | 85.9K |
Total calls | 1.56M |
Total put/call ratio | 0.1 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 8.41M | $376.14M |
FMR | 7.86M | $351.72M |
Goldentree Asset Management | 7.73M | $345.68M |
JB Investors | 7.53M | $185.94M |
Vanguard | 7.49M | $335.02M |
Gimbel Daniel Scott | 6.24M | $279.07M |
Solar Projects | 6.15M | $0 |
ARES Ares Management | 5.97M | $266.82M |
STT State Street | 3.3M | $147.53M |
CVX Chevron | 2.85M | $0 |
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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New words:
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Removed:
back, curve, diligence, January, lender, made, making, notional, relating, represent, sequestration, spend
Financial reports
Current reports
8-K
Results of Operations and Financial Condition
3 Aug 22
8-K
Material Modifications to Rights of Security Holders
6 May 22
8-K
Results of Operations and Financial Condition
5 May 22
8-K
Results of Operations and Financial Condition
24 Feb 22
8-K
Entry into a Material Definitive Agreement
16 Feb 22
8-K
Departure of Directors or Certain Officers
15 Dec 21
8-K
Regulation FD Disclosure
9 Dec 21
8-K
Results of Operations and Financial Condition
12 Nov 21
8-K
Regulation FD Disclosure
6 Oct 21
8-K
Regulation FD Disclosure
5 Oct 21
Registration and prospectus
S-8
Registration of securities for employees
6 May 22
S-3ASR
Automatic shelf registration
11 Mar 21
S-8
Registration of securities for employees
4 Feb 21
424B3
Prospectus supplement
22 Jan 21
424B3
Prospectus supplement
21 Jan 21
424B3
Prospectus supplement
13 Jan 21
424B3
Prospectus supplement
23 Dec 20
S-1
IPO registration
3 Dec 20
POS AM
Prospectus update (post-effective amendment)
27 Oct 20
POS AM
Prospectus update (post-effective amendment)
27 Oct 20
Proxies
DEFA14A
Additional proxy soliciting materials
22 Apr 22
DEFA14A
Additional proxy soliciting materials
22 Mar 22
PRE 14A
Preliminary proxy
7 Mar 22
DEFA14A
Additional proxy soliciting materials
2 May 21
DEFA14A
Additional proxy soliciting materials
16 Apr 21
DEFA14A
Additional proxy soliciting materials
30 Mar 21
DEF 14A
Definitive proxy
30 Mar 21
DEFA14A
Additional proxy soliciting materials
8 Apr 20
DEFA14A
Additional proxy soliciting materials
24 Mar 20
Other
EFFECT
Notice of effectiveness
28 Dec 20
CORRESP
Correspondence with SEC
20 Dec 20
UPLOAD
Letter from SEC
9 Dec 20
EFFECT
Notice of effectiveness
4 Nov 20
EFFECT
Notice of effectiveness
4 Nov 20
EFFECT
Notice of effectiveness
4 Nov 20
CERT
Certification of approval for exchange listing
27 Oct 20
CORRESP
Correspondence with SEC
26 Mar 20
CORRESP
Correspondence with SEC
26 Mar 20
UPLOAD
Letter from SEC
24 Mar 20
Ownership
SC 13D/A
California Resources / ARES MANAGEMENT ownership change
17 Jun 22
4
California Resources / Christopher D. Gould ownership change
16 Jun 22
SC 13D/A
California Resources / ARES MANAGEMENT ownership change
7 Jun 22
4
California Resources / Andrew B. Bremner ownership change
4 May 22
4
California Resources / Brady Nicole Elana Neeman ownership change
4 May 22
4
California Resources / Alejandra Veltmann ownership change
4 May 22
SC 13D/A
California Resources / ARES MANAGEMENT ownership change
14 Apr 22
4
California Resources / Steven A. Tananbaum ownership change
7 Apr 22
4
California Resources / Steven A. Tananbaum ownership change
31 Mar 22
SC 13D/A
California Resources / GOLDENTREE ASSET MANAGEMENT ownership change
30 Mar 22
Transcripts
2022 Q2
Earnings call transcript
7 Aug 22
2022 Q1
Earnings call transcript
9 May 22
2021 Q4
Earnings call transcript
24 Feb 22
2021 Q3
Earnings call transcript
11 Nov 21
2021 Q2
Earnings call transcript
8 Aug 21
2021 Q1
Earnings call transcript
14 May 21
2019 Q4
Earnings call transcript
26 Feb 20
2019 Q3
Earnings call transcript
4 Nov 19
2019 Q2
Earnings call transcript
2 Aug 19
2019 Q1
Earnings call transcript
4 May 19
Reddit threads
Daily Discussion Thread - August 3rd, 2022
3 Aug 22
What companies have the most trustworthy, consistent, and successful management in your view and why? And which have the worst?
1 Aug 22
Daily Discussion - Wednesday June 22 2022
22 Jun 22
Daily Discussion Thread - May 31st, 2022
31 May 22
Daily Discussion Thread - May 30th, 2022
30 May 22
Daily Discussion Thread - May 5th, 2022
5 May 22
Daily Discussion Thread - May 4th, 2022
4 May 22
US HRC: Prices edge down, spot demand limited | Argus Media
26 Apr 22
Steelgang Update: Q1 STLD NUE CLF
23 Apr 22
Ex-China CRC prices increase following HRC and local gains
23 Mar 22