In the past week, CRC stock has gone down by -14.86%, with a monthly decline of -13.68% and a quarterly plunge of -14.48%. The volatility ratio for the week is 4.87%, and the volatility levels for the last 30 days are 3.99% for California Resources Corporation The simple moving average for the last 20 days is -12.67% for CRC stock, with a simple moving average of -16.77% for the last 200 days.
Is It Worth Investing in California Resources Corporation (NYSE: CRC) Right Now?
California Resources Corporation (NYSE: CRC) has a higher price-to-earnings ratio of 5.24x compared to its average ratio. Analysts have mixed views on the stock, with 7 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The average price point forecasted by analysts for California Resources Corporation (CRC) is $56.86, which is $24.96 above the current market price. The public float for CRC is 71.13M, and currently, short sellers hold a 6.10% ratio of that float. The average trading volume of CRC on March 16, 2023 was 767.94K shares.
CRC) stock’s latest price update
California Resources Corporation (NYSE: CRC)’s stock price has decreased by -5.51 compared to its previous closing price of 38.14. but the company has seen a -14.86% decline in its stock price over the last five trading sessions.
Analysts’ Opinion of CRC
In the past week, CRC stock has gone down by -14.86%, with a monthly decline of -13.68% and a quarterly plunge of -14.48%. The volatility ratio for the week is 4.87%, and the volatility levels for the last 30 days are 3.99% for California Resources Corporation The simple moving average for the last 20 days is -12.67% for CRC stock, with a simple moving average of -16.77% for the last 200 days.
Analysts’ Opinion of CRC
Many brokerage firms have already submitted their reports for CRC stocks, with BofA Securities repeating the rating for CRC by listing it as a “Buy.” The predicted price for CRC in the upcoming period, according to BofA Securities is $60 based on the research report published on February 24th of the current year 2023.
Mizuho, on the other hand, stated in their research note that they expect to see CRC reach a price target of $60. The rating they have provided for CRC stocks is “Buy” according to the report published on January 10th, 2023.
BofA Securities gave a rating of “Neutral” to CRC, setting the target price at $58 in the report published on November 15th of the previous year.
CRC Trading at -15.35% 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 -29.97% of loss for the given period.
Volatility was left at 3.99%, however, over the last 30 days, the volatility rate increased by 4.87%, as shares sank -12.95% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -17.17% lower at present.
During the last 5 trading sessions, CRC fell by -14.86%, which changed the moving average for the period of 200-days by -18.99% in comparison to the 20-day moving average, which settled at $41.00. In addition, California Resources Corporation saw -17.17% 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 Roby William B, who purchase 103 shares at the price of $45.23 back on Sep 06. After this action, Roby William B now owns 41,892 shares of California Resources Corporation, valued at $4,659 using the latest closing price.
GOLDENTREE ASSET MANAGEMENT LP, the 10% Owner of California Resources Corporation, sale 29,302 shares at $44.07 during a trade that took place back on Apr 06, which means that GOLDENTREE ASSET MANAGEMENT LP is holding 7,498,085 shares at $1,291,339 based on the most recent closing price.
Stock Fundamentals for CRC
Current profitability levels for the company are sitting at:
- +41.56 for the present operating margin
- +53.35 for the gross margin
The net margin for California Resources Corporation stands at +16.08. Equity return is now at value 31.40, with 13.10 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 0.97.
Conclusion
To put it simply, California Resources Corporation (CRC) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
