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Is a Correction Looming Ahead for California Resources Corporation (CRC)

California Resources Corporation (NYSE:CRC) went down by -3.02% from its latest closing price compared to the recent 1-year high of $50.44. The company’s stock price has collected -5.38% of loss in the last five trading sessions.

Is It Worth Investing in California Resources Corporation (NYSE :CRC) Right Now?

California Resources Corporation (NYSE:CRC) scored a price-to-earnings ratio above its average ratio, recording 6.82 x from its present earnings ratio. Opinions of the stock are interesting as 3 analysts out of 4 who provided ratings for California Resources Corporation declared the stock was a “buy,” while 0 rated the stock as “overweight,” 0 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $56.25, which is $24.7 above the current price. CRC currently public float of 77.06M and currently shorts hold a 4.89% ratio of that float. Today, the average trading volume of CRC was 839.45K shares.

CRC’s Market Performance

CRC stocks went down by -5.38% for the week, with a monthly jump of 10.95% and a quarterly performance of -5.31%, while its annual performance rate touched 57.14%. The volatility ratio for the week stands at 4.03% while the volatility levels for the past 30 days are set at 4.01% for California Resources Corporation. The simple moving average for the period of the last 20 days is 1.07% for CRC stocks with a simple moving average of -1.79% for the last 200 days.

Analysts’ Opinion of CRC

Many brokerage firms have already submitted their reports for CRC stocks, with MKM Partners repeating the rating for CRC by listing it as a “Buy.” The predicted price for CRC in the upcoming period, according to MKM Partners is $48 based on the research report published on July 20th of the current year 2022.

BofA Securities, on the other hand, stated in their research note that they expect to see CRC reach a price target of $49, previously predicting the price at $74. The rating they have provided for CRC stocks is “Underperform” according to the report published on July 19th, 2022.

Citigroup gave a rating of “Buy” to CRC, setting the target price at $60 in the report published on May 10th of the current year.

CRC Trading at -0.41% from the 50-Day Moving Average

After a stumble in the market that brought CRC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -16.63% of loss for the given period.

Volatility was left at 4.01%, however, over the last 30 days, the volatility rate increased by 4.03%, as shares surge +7.24% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.53% lower at present.

During the last 5 trading sessions, CRC fell by -5.38%, which changed the moving average for the period of 200-days by -1.22% in comparison to the 20-day moving average, which settled at $41.75. In addition, California Resources Corporation saw -1.55% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at CRC starting from GOLDENTREE ASSET MANAGEMENT LP, who sale 29,302 shares at the price of $44.07 back on Apr 06. After this action, GOLDENTREE ASSET MANAGEMENT LP now owns 7,498,085 shares of California Resources Corporation, valued at $1,291,339 using the latest closing price.

GOLDENTREE ASSET MANAGEMENT LP, the 10% Owner of California Resources Corporation, sale 200,000 shares at $44.38 during a trade that took place back on Apr 05, which means that GOLDENTREE ASSET MANAGEMENT LP is holding 7,527,387 shares at $8,875,000 based on the most recent closing price.

Stock Fundamentals for CRC

Current profitability levels for the company are sitting at:

  • +35.17 for the present operating margin
  • +48.62 for the gross margin

The net margin for California Resources Corporation stands at +23.86. Equity return is now at value 41.90, with 14.70 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 0.88.