The price-to-earnings ratio for California Resources Corporation (NYSE: CRC) is above average at 23.85x, Company’s 36-month beta value is 1.42.Analysts have differing opinions 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 7.48% ratio of that floaft. The average trading volume of CRC on October 04, 2024 was 751.34K shares.
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CRC) stock’s latest price update
California Resources Corporation (NYSE: CRC)’s stock price has plunge by 1.82relation to previous closing price of 52.68. Nevertheless, the company has seen a 7.80% surge in its stock price over the last five trading sessions. businesswire.com reported 2024-09-24 that LONG BEACH, Calif. & HOUSTON–(BUSINESS WIRE)– #CRC–Sage Geosystems, Inc. (Sage) and California Resources Corporation (NYSE: CRC) today announced the signing of a Memorandum of Understanding (MOU) to establish a collaborative framework for pursuing commercial projects and joint funding opportunities related to subsurface energy storage and geothermal power generation in California. This strategic partnership between Sage and CRC will focus on developing clean and reliable energy solutions in the Sta.
CRC’s Market Performance
CRC’s stock has risen by 7.80% in the past week, with a monthly rise of 9.65% and a quarterly rise of 4.52%. The volatility ratio for the week is 3.37% while the volatility levels for the last 30 days are 3.07% for California Resources Corporation The simple moving average for the past 20 days is 5.23% for CRC’s stock, with a 4.31% simple moving average for the past 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 $65 based on the research report published on August 21, 2024 of the current year 2024.
TD Cowen, on the other hand, stated in their research note that they expect to see CRC reach a price target of $65. The rating they have provided for CRC stocks is “Buy” according to the report published on August 02nd, 2024.
Citigroup gave a rating of “Buy” to CRC, setting the target price at $63 in the report published on July 19th of the current year.
CRC Trading at 6.84% 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 -7.33% of loss for the given period.
Volatility was left at 3.07%, however, over the last 30 days, the volatility rate increased by 3.37%, as shares surge +8.87% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.67% upper at present.
During the last 5 trading sessions, CRC rose by +7.80%, which changed the moving average for the period of 200-days by +3.21% in comparison to the 20-day moving average, which settled at $51.19. In addition, California Resources Corporation saw -1.90% 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 Repetti Noelle M., who sale 10,000 shares at the price of $53.00 back on Sep 17 ’24. After this action, Repetti Noelle M. now owns 17,301 shares of California Resources Corporation, valued at $530,000 using the latest closing price.
Repetti Noelle M., the Officer of California Resources Corporation, proposed sale 10,000 shares at $53.00 during a trade that took place back on Sep 17 ’24, which means that Repetti Noelle M. is holding shares at $530,000 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 4.69.
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 2.18. 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
In a nutshell, California Resources Corporation (CRC) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
