CRC

California Resources Corporation (CRC) is expected to report a 35.6% year-over-year decline in quarterly earnings to $0.94 per share, though revenues are projected to rise 10.9% to $947.97 million. With an Earnings ESP of 0% and Zacks Rank #3, the stock is not considered a compelling earnings-beat candidate. The company has a mixed track record, beating consensus estimates in only 2 of the last 4 quarters.

Chevron will divest its interests in Hess Midstream and DJ Basin assets for $200 million while securing improved commercial terms. The deal is expected to reduce Bakken unit midstream costs by approximately 50%, extend agreements through 2045, and deconsolidate $3.7 billion in debt.

However, Chevron will record a one-time after-tax loss of $3-4 billion at closing. The transaction aims to improve capital efficiency and upstream returns.