27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
California Resources (NYSE:CRC) is set to give its latest quarterly earnings report on Monday, 2023-05-01. Here's what investors need to know before the announcement.
Analysts estimate that California Resources will report an earnings per share (EPS) of $1.96.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
California Resources bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Past Earnings Performance
Last quarter the company missed EPS by $0.31, which was followed by a 7.8% increase in the share price the next day.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Here's a look at California Resources's past performance and the resulting price change:
| Quarter | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|
| EPS Estimate | 1.55 | 1.44 | 1.98 | 1.26 |
| EPS Actual | 1.24 | 1.45 | 1.13 | 1.13 |
| Price Change % | 7.8% | 4.85% | -3.29% | -0.05% |
Stock Performance
Shares of California Resources were trading at $39.3 as of April 27. Over the last 52-week period, shares are up 2.73%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.
To track all earnings releases for California Resources visit their earnings calendar on our site.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.