Price Target Update on California Resources Corporation (NYSE:CRC)

California Resources Corporation (NYSE:CRC) : The consensus price target for California Resources Corporation (NYSE:CRC) is $21.67 for the short term with a standard deviation of $2.89. The most optimist securities analyst among the 3 who monitor the stock believes that the stock can reach $25, however, the pessimist price target for the company is $20.

Other Equity analysts have also commented 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.

California Resources Corporation (NYSE:CRC): stock turned positive on Thursday. Though the stock opened at $14.75, the bulls momentum made the stock top out at $14.98 level for the day. The stock recorded a low of $14.2 and closed the trading day at $14.52, in the green by 1.89%. The total traded volume for the day was 2,760,156. The stock had closed at $14.25 in the previous days trading.

The company shares have dropped -80.10% 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 $15.81 and the 200 Day Moving Average price is recorded at $15.20. 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.

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.

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