The stock of California Resources Corporation (CRC) has seen a -1.96% decrease in the past week, with a -11.60% drop in the past month, and a -5.88% decrease in the past quarter. The volatility ratio for the week is 3.53%, and the volatility levels for the past 30 days are at 2.93% for CRC. The simple moving average for the last 20 days is -7.70% for CRC’s stock, with a simple moving average of -6.09% 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 14.38x compared to its average ratio, The 36-month beta value for CRC is at 1.47. Analysts have varying views on the stock, with 2 analysts rating it as a “buy,” 0 rating it as “overweight,” 4 as “hold,” and 2 as “sell.”
The public float for CRC is 57.68M, and currently, shorts hold a 11.02% of that float. The average trading volume for CRC on May 09, 2024 was 944.47K shares.
CRC) stock’s latest price update
California Resources Corporation (NYSE: CRC)’s stock price has dropped by -5.38 in relation to previous closing price of 52.94. Nevertheless, the company has seen a loss of -1.96% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-30 that California Resources (CRC) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Analysts’ Opinion of CRC
Many brokerage firms have already submitted their reports for CRC stocks, with Barclays repeating the rating for CRC by listing it as a “Equal Weight.” The predicted price for CRC in the upcoming period, according to Barclays is $62 based on the research report published on April 10, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see CRC reach a price target of $60, previously predicting the price at $64. The rating they have provided for CRC stocks is “Neutral” according to the report published on January 05th, 2024.
BofA Securities gave a rating of “Buy” to CRC, setting the target price at $60 in the report published on February 24th of the previous year.
CRC Trading at -7.04% 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 -14.29% of loss for the given period.
Volatility was left at 2.93%, however, over the last 30 days, the volatility rate increased by 3.53%, as shares sank -12.03% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.93% lower at present.
During the last 5 trading sessions, CRC fell by -1.96%, which changed the moving average for the period of 200-days by -1.16% in comparison to the 20-day moving average, which settled at $53.93. In addition, California Resources Corporation saw -8.39% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for CRC
Current profitability levels for the company are sitting at:
- 0.21 for the present operating margin
- 0.48 for the gross margin
The net margin for California Resources Corporation stands at 0.2. The total capital return value is set at 0.18. Equity return is now at value 12.09, with 14.16 for asset returns.
Based on California Resources Corporation (CRC), the company’s capital structure generated 0.2 points at debt to capital in total, while cash flow to debt ratio is standing at 1.16. The debt to equity ratio resting at 0.25. The interest coverage ratio of the stock is 10.68.
Currently, EBITDA for the company is 1.17 billion with net debt to EBITDA at 0.13. When we switch over and look at the enterprise to sales, we see a ratio of 1.26. The receivables turnover for the company is 10.12for trailing twelve months and the total asset turnover is 0.7. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.41.
Conclusion
In conclusion, California Resources Corporation (CRC) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others 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.
