California Resources Corporation (NYSE: CRC): Reassessing Prospects

California Resources Corporation (CRC) concluded trading on Wednesday at a closing price of $53.22, with 3.41 million shares of worth about $181.6 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -4.06% during that period and on Wednesday February 7 the price saw a gain of about 13.21%. Currently the company’s common shares owned by public are about 71.95M shares, out of which, 57.33M shares are available for trading.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 30 times over the past 12 months. They bought 665,927 shares in 25 of the transactions. In 5 selling transactions, insiders dumped 134,450 shares.

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However, the stock later moved at a day high price of 53.57, or with a gain of 13.21%. Stock saw a price change of 11.62% in past 5 days and over the past one month there was a price change of 2.25%. Year-to-date (YTD), CRC shares are showing a performance of -2.67% which increased to 32.55% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $34.02 but also hit the highest price of $58.44 during that period. The average intraday trading volume for California Resources Corporation shares is 562.54K. The stock is currently trading 6.61% above its 20-day simple moving average (SMA20), while that difference is up 3.68% for SMA50 and it goes to 7.24% higher than SMA200.

California Resources Corporation (NYSE: CRC) currently have 71.95M outstanding shares and institutions hold larger chunk of about 92.84% of that.

The stock has a current market capitalization of $3.65B and its 3Y-monthly beta is at 1.48. PE ratio of stock for trailing 12 months is 8.54, while it has posted earnings per share of $6.23 in the same period. Its PEG reads 1.22 and has Quick Ratio of 1.24 while making debt-to-equity ratio of 0.32. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CRC, volatility over the week remained 4.53% while standing at 2.81% over the month.

Analysts are in expectations that California Resources Corporation (CRC) stock would likely to be making an EPS of $Canopy Growth Corporation in the current quarter, while forecast for next quarter EPS is $4.32 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Cerence Inc. which is $CRC/USD at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $CRC/GBP in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 6.53% while it is estimated to increase by 9.67% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on January 05, 2024 offering a Neutral rating for the stock and assigned a target price range of between $64 and $60 to it.

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