The stock of California Resources Corp (NYSE:CRC) is a huge mover today! About 696,388 shares traded hands. California Resources Corp (NYSE:CRC) has declined 31.83% since March 16, 2016 and is downtrending. It has underperformed by 37.38% the S&P500.
The move comes after 6 months positive chart setup for the $536.78M company. It was reported on Oct, 19 by Barchart.com. We have $21.08 PT which if reached, will make NYSE:CRC worth $365.01M more.
Analysts await California Resources Corp (NYSE:CRC) to report earnings on November, 3. They expect $-0.53 EPS, up 75.91% or $1.67 from last year’s $-2.2 per share. After $-1.80 actual EPS reported by California Resources Corp for the previous quarter, Wall Street now forecasts -70.56% EPS growth.
California Resources Corp (NYSE:CRC) Ratings Coverage
Out of 5 analysts covering California Resources Corporation (NYSE:CRC), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. California Resources Corporation has been the topic of 10 analyst reports since August 24, 2015 according to StockzIntelligence Inc. On Tuesday, January 26 the stock rating was maintained by Susquehanna with “Neutral”. The company was downgraded on Tuesday, February 23 by Bank of America. Ladenburg Thalmann initiated the shares of CRC in a report on Monday, November 23 with “Buy” rating. The stock of California Resources Corp (NYSE:CRC) earned “Neutral” rating by Susquehanna on Friday, October 30. Johnson Rice initiated the shares of CRC in a report on Friday, September 25 with “Accumulate” rating. Societe Generale downgraded California Resources Corp (NYSE:CRC) on Wednesday, March 2 to “Hold” rating.
According to Zacks Investment Research, “California Resources Corporation is engaged in exploration and production of oil and gas. The Company produces, gathers, processes and markets crude oil, natural gas, natural gas liquids and electricity primarily in the State of California. California Resources Corporation is based in Los Angeles, California.”
Insitutional Activity: The institutional sentiment decreased to 0.01 in Q2 2016. Its down 2.32, from 2.33 in 2016Q1. The ratio is negative, as 417 funds sold all California Resources Corp shares owned while 16 reduced positions. 3 funds bought stakes while 1 increased positions. They now own 1.52 million shares or 99.34% less from 230.03 million shares in 2016Q1.
Great West Life Assurance Communications Can has invested 0% of its portfolio in California Resources Corp (NYSE:CRC). Adams Asset Llc accumulated 0.33% or 159,685 shares. Jnba Fin Advisors has 31 shares for 0% of their US portfolio. Department Mb National Bank & Trust N A last reported 0% of its portfolio in the stock. Tradewinds Capital Ltd has 0% invested in the company for 1 shares. Gemmer Asset Management Ltd Liability Company last reported 0% of its portfolio in the stock. Vantage Advsrs Limited Liability reported 25 shares or 0% of all its holdings. Central Secs accumulated 0% or 1,170 shares. Messner And Smith Theme Value Inv Ca has 0% invested in the company for 2 shares. Nelson Van Denburg Campbell Wealth Group Ltd Liability Co accumulated 1,453 shares or 0% of the stock. Oakworth Capital Inc last reported 183 shares in the company. Hanson & Doremus Invest Mgmt has invested 0% of its portfolio in California Resources Corp (NYSE:CRC). Huntington Bank has 23,488 shares for 0% of their US portfolio. Amer Rech holds 41 shares or 0% of its portfolio. Fort Washington Inv Advisors Oh holds 10,437 shares or 0% of its portfolio.
CRC Company Profile
California Resources Corporation, incorporated on April 23, 2014, is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Firm produces approximately 160 thousand barrels of oil equivalent per day (MBoe/d). It has net proved reserves of approximately 640 million barrels of oil equivalent (MMBoe). The Firm operates approximately three drilling rigs across the state with over two located in the San Joaquin basin (targeting steamflood activities) and approximately one in the Los Angeles basin (targeting waterflood activities). It has drilled approximately 290 gross development wells with over 250 wells in the San Joaquin basin and approximately 30 wells in the Los Angeles basin. It has also drilled approximately three exploration wells in the San Joaquin basin.
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