Company shares last traded at $7.83 which is marginally lower than the 50 day moving average which is $10.89 and slightly below the 200 day moving average of $15.52. The 50 day moving average went down $-3.13 or -28.6831% and the 200 day average went down $-7.75 or -49.9307%. (NYSE:CRC) shares saw light trading volume with 2,069K shares changing hands by the end of trading on Wednesday. Overall, volume was down 89.34% under the stocks normal daily volume.
The following firms have also recently changed their position in CRC. Vantage Investment Advisors, LLC trimmed its investment by selling 5 shares a decrease of 22.7%. Vantage Investment Advisors, LLC owns 17 shares with a value of $0. The total value of its holdings decreased 0.0%. Norges Bank downsized its holdings by shedding 4,335,709 shares a decrease of 56.7% in the quarter. Norges Bank currently owns 3,310,612 shares worth $3,409,000. The value of the position overall is down by 82.9%.
As of quarter end American Research & Management Co. had disposed of a total of 8 shares trimming its stake by 72.7%. The value of the company’s investment in California Resources Corporatio decreased from $0 to $0 a change of 0.0% quarter over quarter. As of the end of the quarter Advantage Investment Management, LLC had sold 180 shares trimming its position 41.6%. The value of the investment in (CRC) went from $3,000 to $0 a change of $3,000 quarter to quarter.
On June 30, 2017 the stock rating was rated “Underperform” by Bank of America a cut from the previous “Neutral” rating. On November 22 the company was set at “Equal-Weight” in a report from Morgan Stanley up from the previous “” rating.
On March 2 the company was downgraded from “Buy” to “Hold” in a report from Societe Generale. On February 23 the stock rating was downgraded to “Neutral” from “Buy” in an announcement from Bank of America.
On January 26 Susquehanna held the stock rating at “Neutral” but moved down the price target from $2.00 to $1.50. On October 30, 2015 Susquehanna began coverage by announcing an initial rating of “Neutral”.
In the market the company is trading up from yesterday’s close of $7.46. California Resources Corporatio’s P/E ratio is 0.8580 and market capitalization is 330.94M. In the latest earnings report the EPS was $9.06 and is expected to be $-4.16 for the current year with 42,592,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $-1.18 and the next full year EPS is anticipated to be $-4.13.
California Resources Corporation, launched on April 23, 2014, is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produced approximately 140 thousand barrels of oil equivalent per day (MBoe/d), as of December 31, 2016. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe). As of December 31, 2016, it drilled 42 development wells with 37 wells in the San Joaquin basin and five in the Los Angeles basin, which included over 30 steamflood and eight waterflood wells. As of December 31, 2016, the Company produced 36 billion barrels of oil equivalent (BBoe), including approximately 20 BBoe in the San Joaquin basin, 11 BBoe in the Los Angeles basin, three BBoe in the Ventura basin and 10 trillion cubic feet (Tcf) of natural gas in the Sacramento basin. Its operations included 135 fields with 8,837 gross active wellbores, as of December 31, 2016. The Company sells its crude oil, natural gas and natural gas liquids (NGLs) production to marketers, California refineries and other purchasers..