California Resources Corporation (NYSE: CRC) is -7.54% lower on its value in year-to-date trading and has touched a low of $34.02 and a high of $51.46 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CRC stock was last observed hovering at around $39.59 in the last trading session, with the day’s gains setting it 0.64% off its average median price target of $52.00 for the next 12 months. It is also 32.95% off the consensus price target high of $60.00 offered by 7 analysts, but current levels are 12.54% higher than the price target low of $46.00 for the same period.
Currently trading at $40.23, the stock is 1.89% and 3.28% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.97 million and changing 1.62% at the moment leaves the stock -5.37% off its SMA200. CRC registered -6.75% loss for a year compared to 6-month loss of -9.47%. The firm has a 50-day simple moving average (SMA 50) of $0.91 and a 200-day simple moving average (SMA200) of $2.01.
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The stock witnessed a 3.15% gain in the last 1 month and extending the period to 3 months gives it a 1.57%, and is 2.11% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.38% over the week and 2.82% over the month.
California Resources Corporation (CRC) has around 1060 employees, a market worth around $2.88B and $3.58B in sales. Current P/E ratio is 3.05 and Fwd P/E is 5.01. Profit margin for the company is 27.90%. Distance from 52-week low is 18.25% and -21.82% from its 52-week high. The company has generated returns on investments over the last 12 months (23.40%).
California Resources Corporation (CRC) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for California Resources Corporation (CRC) is a “Buy”. 7 analysts offering their recommendations for the stock have an average rating of 1.50, where 0 rate it as a Hold and 0 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
California Resources Corporation is expected to release its quarterly report on 08/03/2023.The EPS is expected to shrink by -8.40% this year
California Resources Corporation (CRC) Top Institutional Holders
The shares outstanding are 71.30M, and float is at 70.06M with Short Float at 3.83%.
California Resources Corporation (CRC) Insider Activity
A total of 29 insider transactions have happened at California Resources Corporation (CRC) in the last six months, with sales accounting for 8 and purchases happening 21 times. The most recent transaction is an insider purchase by Roby William B, the company’s Director. SEC filings show that Roby William B bought 103 shares of the company’s common stock on Sep 06 at a price of $45.23 per share for a total of $4659.0. Following the purchase, the insider now owns 41892.0 shares.
