Ahead of California Resources (CRC) Q4 Earnings: Get Ready With Wall Street Estimates for Key Metrics

In its upcoming report, California Resources Corporation (CRC) is predicted by Wall Street analysts to post quarterly earnings of $0.96 per share, reflecting an increase of 3.2% compared to the same period last year. Revenues are forecasted to be $907.09 million, representing a year-over-year increase of 24.9%.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.That said, let's delve into the average estimates of some California Resources metrics that Wall Street analysts commonly model and monitor.Analysts' assessment points toward 'Total Production Per Day' reaching 141.99 millions of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 98 MBoe/d.The consensus estimate for 'Production Per Day - Oil' stands at 111.51 millions of barrels of oil. Compared to the present estimate, the company reported 61 MBbl/d in the same quarter last year.The collective assessment of analysts points to an estimated 'Production per day - Natural Gas' of 119.54 millions of cubic feet. Compared to the present estimate, the company reported 155 MMcf/d in the same quarter last year.Based on the collective assessment of analysts, 'Production Per Day - NGL' should arrive at 10.92 millions of barrels of oil. The estimate compares to the year-ago value of 11 MBbl/d.Analysts predict that the 'Average realized prices with derivative settlements - Oil' will reach $70.80. Compared to the current estimate, the company reported $71.34 in the same quarter of the previous year.Analysts expect 'Average realized prices with derivative settlements - Natural gas' to come in at $3.15. Compared to the present estimate, the company reported $4.66 in the same quarter last year.View all Key Company Metrics for California Resources here>>>California Resources shares have witnessed a change of -11.4% in the past month, in contrast to the Zacks S&P 500 composite's -2.2% move. With a Zacks Rank #3 (Hold), CRC is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report California Resources Corporation (CRC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks