California Resources Corporation (NYSE:CRC) has tumbled 6.73% during the past week and has dropped 16.12% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 5.61%. California Resources Corporation (NYSE:CRC) has underperformed the index by 16.88% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
California Resources Corporation (NYSE:CRC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $12.84 and $12.61 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.95. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.17, notching a gain of 7.69% for the day. The total traded volume was 5,962,947 . The stock had closed at $12.23 on the previous day.
The company shares have dropped -81.32% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $73.48 and the one year low was seen on Feb 25, 2016. The 50-Day Moving Average price is $16.29 and the 200 Day Moving Average price is recorded at $15.83.
On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of California Resources Corp, Stevens Todd A. had purchased shares worth of $9,775 in a transaction dated on March 3, 2016. A total of 11,500 shares were purchased at a price of $0.85 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Societe Generale, downgrades their rating on the shares of California Resources Corporation (NYSE:CRC). Societe Generale has a Hold rating on the shares. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on March 2, 2016. Currently the company Insiders own 1.08% of California Resources Corporation shares according to the proxy statements. During last six month period, the net percent change held by insiders has seen a change of 2.54%.
California Resources Corporation (CRC) is an independent oil and natural gas exploration and production company, operating properties exclusively within the State of California. The Company has a mineral acreage consisting of approximately 2.4 million net acres spanning the states four oil and gas basins. The Companys four oil and gas basins include San Joaquin Basin, Los Angeles Basin, Ventura Basin and Sacramento Basin. It operates an average of approximately 26 drilling rigs across the state. It drilled approximately 1,048 development wells with approximately 847 wells in the San Joaquin basin, approximately 177 in the Los Angeles basin, approximately 21 in the Ventura basin and approximately 3 in the Sacramento basin. It also drilled approximately 9 exploration wells in the San Joaquin basin, approximately 4 in the Ventura basin and 1 in the Sacramento basin.