California Resources Corporation (NYSE: CRC) has a higher price-to-earnings ratio of 22.21x compared to its average ratio. CRC has 36-month beta value of 1.44. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 0 as “overweight,” 4 as “hold,” and 2 as “sell.”
The public float for CRC is 73.52M, and currently, short sellers hold a 8.26% ratio of that float. The average trading volume of CRC on August 15, 2024 was 981.60K shares.
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CRC) stock’s latest price update
California Resources Corporation (NYSE: CRC)’s stock price has soared by 2.02 in relation to previous closing price of 48.96. Nevertheless, the company has seen a gain of 3.16% in its stock price over the last five trading days. businesswire.com reported 2024-08-08 that LONG BEACH, Calif.–(BUSINESS WIRE)–California Resources Corporation (NYSE: CRC) (the “Company”) previously announced the commencement of a cash tender offer (the “Tender Offer”) to purchase up to $200 million aggregate principal amount of its outstanding 7.125% senior notes due 2026 (the “2026 Notes”). The Company hereby amends the Tender Offer to purchase for cash up to $300 million aggregate principal amount of the 2026 Notes (as such aggregate principal amount may be increased or decreased.
CRC’s Market Performance
California Resources Corporation (CRC) has experienced a 3.16% rise in stock performance for the past week, with a -3.85% drop in the past month, and a 2.74% rise in the past quarter. The volatility ratio for the week is 3.47%, and the volatility levels for the past 30 days are at 3.26% for CRC. The simple moving average for the last 20 days is 1.85% for CRC’s stock, with a simple moving average of -2.89% for the last 200 days.
Analysts’ Opinion of CRC
Many brokerage firms have already submitted their reports for CRC stocks, with TD Cowen repeating the rating for CRC by listing it as a “Buy.” The predicted price for CRC in the upcoming period, according to TD Cowen is $65 based on the research report published on August 02, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see CRC reach a price target of $63. The rating they have provided for CRC stocks is “Buy” according to the report published on July 19th, 2024.
Barclays gave a rating of “Equal Weight” to CRC, setting the target price at $62 in the report published on April 10th of the current year.
CRC Trading at 0.38% 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 -14.53% of loss for the given period.
Volatility was left at 3.26%, however, over the last 30 days, the volatility rate increased by 3.47%, as shares sank -4.80% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +13.32% upper at present.
During the last 5 trading sessions, CRC rose by +2.77%, which changed the moving average for the period of 200-days by -4.38% in comparison to the 20-day moving average, which settled at $48.92. In addition, California Resources Corporation saw -8.65% 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 Kendall Christian S, who purchase 20,895 shares at the price of $47.97 back on Aug 13 ’24. After this action, Kendall Christian S now owns 24,600 shares of California Resources Corporation, valued at $1,002,291 using the latest closing price.
McFarland Mark Allen, the Director of California Resources Corporation, sale 37,000 shares at $48.10 during a trade that took place back on May 28 ’24, which means that McFarland Mark Allen is holding 104,939 shares at $1,779,710 based on the most recent closing price.
Stock Fundamentals for CRC
Current profitability levels for the company are sitting at:
- 0.12 for the present operating margin
- 0.46 for the gross margin
The net margin for California Resources Corporation stands at 0.07. The total capital return value is set at 0.07. Equity return is now at value 7.88, with 3.91 for asset returns.
Based on California Resources Corporation (CRC), the company’s capital structure generated 0.37 points at debt to capital in total, while cash flow to debt ratio is standing at 0.35. The debt to equity ratio resting at 0.58. The interest coverage ratio of the stock is 11.33.
Currently, EBITDA for the company is 1.17 billion with net debt to EBITDA at 0.28. When we switch over and look at the enterprise to sales, we see a ratio of 2.04. The receivables turnover for the company is 7.87for trailing twelve months and the total asset turnover is 0.51. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.43.
Conclusion
To put it simply, California Resources Corporation (CRC) has had a mixed performance in recent times. Analysts have a mixed 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.
