California Resources Corporation (CRC) Earns Daily Coverage Optimism Rating of 0.08
Headlines about California Resources Corporation (NYSE:CRC) have been trending somewhat positive on Thursday, Accern reports. Accern ranks the sentiment of media coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. California Resources Corporation earned a media sentiment score of 0.08 on Accern’s scale. Accern also gave headlines about the oil and gas producer an impact score of 45.5375768761856 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the news headlines that may have effected Accern’s analysis:
- California Resources Corporation (CRC) stock is Likely to be considered risky? – Street Observer (press release) (streetobserver.com)
- Short Interest Falls 14.8% For CRC (thestreet.com)
- CSE New Listing – Calaveras Resource Corp Commences Trading on the Canadian Securities Exchange – Video News Alert on InvestmentPitch.com (finance.yahoo.com)
- California Resources Corporation (CRC) Rating Lowered to Strong Sell at ValuEngine (americanbankingnews.com)
CRC has been the subject of a number of research reports. Bank of America Corporation cut California Resources Corporation from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $22.00 to $10.00 in a research note on Friday, June 30th. Zacks Investment Research cut California Resources Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Morgan Stanley reissued an “equal weight” rating on shares of California Resources Corporation in a research note on Saturday, September 16th. BidaskClub cut California Resources Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th. Finally, ValuEngine raised California Resources Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. California Resources Corporation has an average rating of “Hold” and an average price target of $14.33.
California Resources Corporation (NYSE:CRC) traded down 2.48% during mid-day trading on Thursday, reaching $10.22. The company had a trading volume of 875,681 shares. The firm’s 50-day moving average is $9.04 and its 200-day moving average is $10.07. California Resources Corporation has a one year low of $6.47 and a one year high of $23.42. The firm has a market capitalization of $437.13 million, a P/E ratio of 0.92 and a beta of 6.35.
California Resources Corporation (NYSE:CRC) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported ($1.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.63) by ($0.20). The business had revenue of $516.00 million during the quarter, compared to analysts’ expectations of $450.17 million. During the same quarter in the previous year, the business posted ($1.80) earnings per share. The business’s revenue for the quarter was up 62.8% on a year-over-year basis. On average, equities research analysts anticipate that California Resources Corporation will post ($5.85) earnings per share for the current fiscal year.
About California Resources Corporation
California Resources Corporation 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).
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