While California Resources Corporation has underperformed by -3.10%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CRC fell by -11.62%, with highs and lows ranging from $58.44 to $43.09, whereas the simple moving average fell by -3.16% in the last 200 days.
On August 21, 2024, BofA Securities Upgraded California Resources Corporation (NYSE: CRC) to Buy. A report published by TD Cowen on August 02, 2024, Initiated its previous ‘Buy’ rating for CRC. Citigroup also rated CRC shares as ‘Buy’, setting a target price of $63 on the company’s shares in an initiating report dated July 19, 2024. Barclays Initiated an Equal Weight rating on April 10, 2024, and assigned a price target of $62. BofA Securities January 05, 2024d its ‘Buy’ rating to ‘Neutral’ for CRC, as published in its report on January 05, 2024. BofA Securities’s report from February 24, 2023 suggests a price prediction of $60 for CRC shares, giving the stock a ‘Buy’ rating. Mizuho also rated the stock as ‘Buy’.
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Analysis of California Resources Corporation (CRC)
Investors in California Resources Corporation will get a return regardless of how the company performs over the next quarter since the company’s dividend stands at $1.32 per share. Further, the quarter-over-quarter decrease in sales is -9.11%, showing a negative trend in the upcoming months.
One of the most important indicators of California Resources Corporation’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of 7.88% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.33, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and CRC is recording 764.25K average volume. On a monthly basis, the volatility of the stock is set at 2.91%, whereas on a weekly basis, it is put at 3.42%, with a loss of -5.69% over the past seven days. Furthermore, long-term investors anticipate a median target price of $61.75, showing growth from the present price of $49.76, which can serve as yet another indication of whether CRC is worth investing in or should be passed over.
How Do You Analyze California Resources Corporation Shares?
The Oil & Gas E&P market is dominated by California Resources Corporation (CRC) based in the USA. When comparing California Resources Corporation shares with other companies under Energy, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 22.12, there is a growth in quarterly earnings of -91.53%.
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 17.93%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 86.72% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
CRC shares are owned by institutional investors to the tune of 86.72% at present.
