California Resources Corporation (NYSE:CRC) price on Friday, February 28, fall -0.13% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $44.62.
A look at the stock’s price movement, the close in the last trading session was $44.68. The PE ratio in trailing twelve months stood at 7.02. Turning to its 52-week performance, $60.41 and $43.09 were the 52-week high and 52-week low respectively. Overall, CRC moved -12.51% over the past month.
California Resources Corporation’s market cap currently stands at around $4.08 billion, with investors looking forward to this quarter’s earnings report slated for in April. The company has a Forward Dividend ratio of 1.40, with its dividend yield at 3.13%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 901.36M for the company’s revenue for the quarter, with a low and high estimate of 836M and 932.81M respectively. The average forecast suggests up to a 24.15% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 2.98B, representing a 6.30% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CRC is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 4 recommend CRC as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CRC’s current price about -5.67% and -11.27% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 29.88, while 7-day volatility ratio is 2.55% and 2.81% in the 30-day chart. Further, California Resources Corporation (CRC) has a beta value of 1.49, and an average true range (ATR) of 1.36. Analysts have given the company’s stock an average 52-week price target of $65, forecast between a low of $64 and high of $73. Looking at the price targets, the low is -43.43% off current price level while to achieve the yearly target high, price needs to move -63.6%. Nonetheless, investors will most likely welcome a -45.67% jump to $65 which is the analysts’ median price.
If we refocus on California Resources Corporation (NYSE:CRC), historical trading data shows that trading volumes averaged 704.23K over the past 3 months. The company’s latest data on shares outstanding shows there are 89.46 million shares.
The 17.45% of California Resources Corporation’s shares are in the hands of company insiders while institutional holders own 86.84% of the company’s shares. Current price change has pushed the stock -14.01% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CRC stock continues to rise going into the next quarter.
