California Resources (NYSE:CRC) Stock Price Crosses Above 50 Day Moving Average - What's Next?

Key Points

• Price action: CRC stock crossed above its 50‑day moving average (50‑day = $63.52) and last traded around $64.76, rising as high as $65.53 on volume of about 343,202 shares, signaling short‑term bullish momentum.
• Analyst sentiment: The consensus rating is a Buy with an average target of $71.20 after recent raises (RBC $70, Barclays $72, Citi $74), backed by a mix of Strong Buy/Buy/Hold recommendations.
• Fundamentals & shareholder returns: Q1 results showed a slight EPS miss ($0.47 vs. $0.49 estimate) but revenue beat ($924M, +5.4% YoY), and the company pays a quarterly dividend of $0.405 (annualized $1.62, ~2.5% yield; DPR ~39.7%).

California Resources Corporation (NYSE:CRC - Get Free Report)'s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $63.52 and traded as high as $65.53. California Resources shares last traded at $64.7640, with a volume of 343,202 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank Of Canada set a $70.00 price objective on California Resources in a research note on Monday, January 5th. Wall Street Zen upgraded California Resources from a "sell" rating to a "hold" rating in a research note on Monday, April 6th. Barclays raised their price target on California Resources from $67.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, March 16th. Citigroup lifted their price objective on shares of California Resources from $67.00 to $74.00 and gave the stock a "neutral" rating in a research report on Monday, March 30th. Finally, Pickering Energy Partners lowered shares of California Resources from an "outperform" rating to a "neutral" rating in a research report on Friday, January 9th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $71.20.

California Resources Stock Down 0.8%

The firm has a 50-day moving average price of $63.52 and a 200 day moving average price of $53.48. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.89 and a quick ratio of 0.79. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 15.87 and a beta of 1.04.

California Resources (NYSE:CRC - Get Free Report) last announced its earnings results on Monday, March 2nd. The oil and gas producer reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02). The firm had revenue of $924.00 million for the quarter, compared to the consensus estimate of $789.67 million. California Resources had a return on equity of 10.23% and a net margin of 9.89%.California Resources's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. Sell-side analysts predict that California Resources Corporation will post 4.71 EPS for the current year.

California Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 13th were given a dividend of $0.405 per share. The ex-dividend date was Friday, March 13th. This represents a $1.62 annualized dividend and a yield of 2.5%. California Resources's dividend payout ratio (DPR) is presently 39.71%.

Insider Transactions at California Resources

In other news, EVP Christopher D. Gould sold 24,347 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $62.21, for a total value of $1,514,626.87. Following the completion of the sale, the executive vice president owned 131,537 shares of the company's stock, valued at approximately $8,182,916.77. The trade was a 15.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Noelle M. Repetti sold 8,564 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $63.71, for a total transaction of $545,612.44. Following the completion of the transaction, the vice president owned 7,684 shares in the company, valued at $489,547.64. This trade represents a 52.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 72,283 shares of company stock worth $4,636,646 over the last ninety days. Corporate insiders own 0.53% of the company's stock.

Institutional Trading of California Resources

A number of institutional investors have recently bought and sold shares of CRC. Federated Hermes Inc. grew its holdings in California Resources by 4.3% during the 4th quarter. Federated Hermes Inc. now owns 4,683 shares of the oil and gas producer's stock worth $209,000 after acquiring an additional 195 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of California Resources by 14.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,677 shares of the oil and gas producer's stock valued at $75,000 after purchasing an additional 214 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of California Resources by 29.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 956 shares of the oil and gas producer's stock valued at $51,000 after purchasing an additional 219 shares in the last quarter. Clearstead Advisors LLC boosted its position in shares of California Resources by 82.5% during the 3rd quarter. Clearstead Advisors LLC now owns 500 shares of the oil and gas producer's stock valued at $27,000 after purchasing an additional 226 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its stake in California Resources by 4.4% during the fourth quarter. iA Global Asset Management Inc. now owns 5,440 shares of the oil and gas producer's stock worth $243,000 after purchasing an additional 230 shares during the period. Institutional investors own 97.79% of the company's stock.

California Resources Company Profile

California Resources Corporation NYSE: CRC is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC's operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.