The stock of California Resources Corp (NYSE:CRC) is a huge mover today! About 4.74 million shares traded hands or 91.13% up from the average. California Resources Corp (NYSE:CRC) has declined 50.00% since April 27, 2016 and is downtrending. It has underperformed by 55.23% the S&P500.
The move comes after 7 months positive chart setup for the $602.09 million company. It was reported on Nov, 30 by Barchart.com. We have $16.61 PT which if reached, will make NYSE:CRC worth $30.10M more.
Analysts await California Resources Corp (NYSE:CRC) to report earnings on March, 6. They expect $-0.96 earnings per share, up 52.00% or $1.04 from last year’s $-2 per share. After $-1.75 actual earnings per share reported by California Resources Corp for the previous quarter, Wall Street now forecasts -45.14% EPS growth.
California Resources Corp (NYSE:CRC) Ratings Coverage
Out of 6 analysts covering California Resources Corporation (NYSE:CRC), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. California Resources Corporation has been the topic of 11 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The stock of California Resources Corp (NYSE:CRC) earned “Buy” rating by Ladenburg Thalmann on Monday, November 23. The rating was initiated by Johnson Rice with “Accumulate” on Friday, September 25. The company was downgraded on Tuesday, February 23 by Bank of America. The rating was downgraded by Societe Generale to “Hold” on Wednesday, March 2. The firm has “Neutral” rating by Susquehanna given on Friday, October 30. The rating was upgraded by Morgan Stanley to “Equal-Weight” on Tuesday, November 22. Susquehanna maintained California Resources Corp (NYSE:CRC) on Tuesday, January 26 with “Neutral” 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 increased to 0.12 in Q2 2016. Its up 0.11, from 0.01 in 2016Q1. The ratio improved, 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.
Jnba Fincl Advsrs holds 0% of its portfolio in California Resources Corp (NYSE:CRC) for 31 shares. Lenox Wealth Mngmt last reported 2 shares in the company. Tradewinds Cap Mngmt Limited has 1 shares for 0% of their US portfolio. Hanson Doremus Management holds 8 shares or 0% of its portfolio. Mercer Advisers has 0% invested in the company for 102 shares. Moreover, Skba Mgmt Limited Liability Com has 0% invested in California Resources Corp (NYSE:CRC) for 39,624 shares. Dreman Value Management L L C holds 185 shares or 0% of its portfolio. Great West Life Assurance Can reported 95,452 shares or 0% of all its holdings. Moreover, Firefly Value Prns Ltd Partnership has 0.08% invested in California Resources Corp (NYSE:CRC) for 40,000 shares. The Ohio-based Fort Washington Invest Oh has invested 0% in California Resources Corp (NYSE:CRC). Central Secs holds 0% of its portfolio in California Resources Corp (NYSE:CRC) for 1,170 shares. Adams Asset Advisors Ltd Com holds 159,685 shares or 0.33% of its portfolio. Messner & Smith Theme Value Inv Mngmt Ca accumulated 0% or 2 shares. Burt Wealth Advsr owns 27 shares or 0% of their US portfolio. America First Invest Advsrs Limited Liability accumulated 8 shares or 0% of the stock.
More news for California Resources Corp (NYSE:CRC) were recently published by: Fool.com, which released: “Shares of California Resources Corporation are Surging Today; Here’s Why” on November 15, 2016. Businesswire.com‘s article titled: “California Resources Corporation to Participate at Upcoming Industry Conferences” and published on November 22, 2016 is yet another important article.
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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