California Resources Corporation [CRC] stock prices are up 0.91% to $54.18 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The CRC shares have lost -1.37% over the last week, with a monthly amount glided 1.71%, and seem to be holding up well over a long-time horizon.
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On 19, March 2024, California Resources Corporation Announces the Nomination of Christian S. Kendall to Its Board of Directors. In a post published today on Yahoo Finance, California Resources Corporation (NYSE: CRC) announced today that the Board of Directors has nominated Christian S. (Chris) Kendall to stand for election as a director at CRC’s 2024 Annual Meeting of Stockholders. Mr. Kendall is the former President and Chief Executive Officer of Denbury.
From an analyst’s perspective:
California Resources Corporation [NYSE: CRC] stock has seen the most recent analyst activity on January 05, 2024, when BofA Securities downgraded its rating to a Neutral and also revised its price target to $60 from $64. Previously, BofA Securities upgraded its rating to Buy on February 24, 2023, and elevated its price target to $60. On January 10, 2023, Mizuho initiated with a Buy rating and assigned a price target of $60 on the stock. BofA Securities upgraded its rating to a Neutral and increased its price target to $58 on November 15, 2022. Stifel initiated its recommendation with a Buy and recommended $63 as its price target on October 20, 2022. In a note dated July 19, 2022, BofA Securities downgraded an Underperform rating on this stock and revised its target price from $74 to $49.
The stock price of California Resources Corporation [CRC] has been fluctuating between $37.21 and $58.44 over the past year. Currently, Wall Street analysts expect the stock to reach $59.5 within the next 12 months. California Resources Corporation [NYSE: CRC] shares were valued at $54.18 at the most recent close of the market. An investor can expect a potential return of 9.82% based on the average CRC price forecast.
Analyzing the CRC fundamentals
The California Resources Corporation [NYSE:CRC] reported sales of 2.81B for trailing twelve months, representing a drop of -25.43%. Gross Profit Margin for this corporation currently stands at 0.48% with Operating Profit Margin at 0.21%, Pretax Profit Margin comes in at 0.27%, and Net Profit Margin reading is 0.2%. To continue investigating profitability, this company’s Return on Assets is posted at 0.14, Equity is 0.27 and Total Capital is 0.18. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.25.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 53.64 points at the first support level, and at 53.09 for the second support level. However, for the 1st resistance point, the stock is sitting at 54.77, and for the 2nd resistance point, it is at 55.36.
California Resources Corporation [CRC] reported earnings per share of $0.93 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.91/share, meaning a difference of $0.02 and a surprise factor of 2.20%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.02 per share as compared to estimates of $0.81 per share, a difference of $0.21 representing a surprise of 25.90%.
Ratios To Look Out For
It’s worth pointing out that California Resources Corporation [NYSE:CRC]’s Current Ratio is 1.51. On the other hand, the Quick Ratio is 1.39, and the Cash Ratio is 0.81. Considering the valuation of this stock, the price to sales ratio is 1.32, the price to book ratio is 1.68 and price to earnings (TTM) ratio is 7.01.
