Director Gannon Justin A. acquired 1,000 shares in California Resources Corporation (NYSE:CRC) for $33,871 in transaction occurred on 2018/11/21. After making this transaction, the Director owns a direct stake of 22,750 shares, worth $713,662, as per the last closing price. On 2018/11/20 Korell Harold M, Director at CRC, purchased 4,736 shares at an average price of $21.11 per share. The new stake is valued at $936,667.
Separately, it had been reported that some other CRC insiders also took part of the insider trading activity. Director, Korell Harold M had invested in 1,848 shares for $39,719 through a trade on 2018/11/06. Following this activity, the insider holds 53,906 shares worth $836,879 as of recent close. Wall Street’s most bullish California Resources Corporation (NYSE:CRC) analysts are predicting the share price to blow past $66 per share during the next 12 months. The current median share price forecast by them is $46.5, suggesting that the stock could increase 120.69% in that time frame. The average price target of $44.75 calls for a nearly 112.39% increase in the stock price.
California Resources Corporation (CRC) trading activity significantly improved as the volume at ready counter increased to 3,422,727 shares versus 2,690,765 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 1,989,194 shares. The share price dropped -10.68% in recent trade and currently has a stock-market value of $1.04B. The shares finished at $21.07, after trading as low as $20 earlier in the session. It hit an intraday high Thursday at $21.99. The stock is now 58.9% above against its bear-market low of $13.26 on March 01, 2018. It has retreated -138.92% since it’s 52-week high of $50.34 reached in October. Now the market price is up 14.26% on the year and up 8.38% YTD.
CRC’s 50 day simple moving average (SMA 50) price is $32.83 and its 200-day simple moving average (SMA 200) price is $31.8. The company’s stock currently has a total float of 44.63M shares. Its weekly volatility is hovering around 7.74% and felt 8.63% volatility in price over a month. On the upside, the share price will test short term resistance at around $22.04. On a downside, the stock is likely to find some support, which begins at $20.05. The failure to get near-term support could push it to $19.03.
It had seen a new analyst call from Evercore ISI, which initiated the stock at Outperform on September 21. Analysts at Imperial Capital, maintained the company shares at Outperform on May 17 but switched target price from $35 to $41. Brokerage firm Imperial Capital, looks cautious as they stick to prior recommendation of Outperform, in a call on May 07. However, they did change the target price from $30 to $35. Societe Generale analysts came out with bearish views on April 27 when the call was made. They think the stock is now Hold compared to to their prior call for Buy.
Moreover, it trades for 4.84 times the next 12 months of expected earnings. Compared to others, California Resources Corporation is in a different league with regards to profitability, having net margins of -6.4%. To put some perspective around this, the industry’s average net margin is 17.86%. CRC’s ROE is 20.2%, which is also considerably better than the industry’s ROE of 18.53%. It’s also not liquid in the near term, with a current ratio of 0.6. The stock has a debt/capital of 0.
Shares of California Resources Corporation (CRC) have dropped -24.9% since the company’s last earnings report. Over the past 12 fiscal quarters, California Resources Corporation (NYSE:CRC) has topped consensus earnings estimates in 7 quarters (58%), missed earnings in 5 quarters (41%), whereas at 0 occasion EPS met analyst expectations. CRC last reported earnings on November 01, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $0.81 per share, -99.35% change on the same period last year. That was better than consensus for $0.36. Revenue for the recent quarter stood at $828 million, up 86% on last year and above the $648.48 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $630.1 million to $733 million, which should be compared with $565.65 million generated last year. EPS is seen in a range of -$0.46 to $1.33, against the -$0.98 reported a year ago.