California Resources Corporation (CRC) Earns Coverage Optimism Rating of 0.04
News articles about California Resources Corporation (NYSE:CRC) have been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern identifies positive and negative press coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. California Resources Corporation earned a coverage optimism score of 0.04 on Accern’s scale. Accern also gave media stories about the oil and gas producer an impact score of 46.692992303429 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news articles that may have impacted Accern Sentiment’s analysis:
- Contrasting Antero Resources Corporation (AR) and California Resources Corporation (CRC) (americanbankingnews.com)
- Where Does California Resources Corporation (CRC) Stock Go From Here? – AllStockNews (allstocknews.com)
- California Resources’ Year-to-Date Stock Performance (finance.yahoo.com)
- California Resources’ Losses Increased 8% in 2Q17 (finance.yahoo.com)
- Analyzing California Resources’ 2Q17 Revenues (finance.yahoo.com)
CRC has been the subject of several research reports. BidaskClub downgraded shares of California Resources Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. Bank of America Corporation downgraded shares of California Resources Corporation from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $22.00 to $10.00 in a research report on Friday, June 30th. Finally, Zacks Investment Research upgraded shares of California Resources Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th.
California Resources Corporation (NYSE CRC) traded up 2.87% during mid-day trading on Friday, reaching $6.81. 906,541 shares of the company traded hands. The firm’s 50-day moving average is $7.62 and its 200 day moving average is $12.39. California Resources Corporation has a 52-week low of $6.50 and a 52-week high of $23.42. The stock has a market capitalization of $291.28 million, a PE ratio of 0.61 and a beta of 6.23.
California Resources Corporation (NYSE:CRC) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by $0.20. The company had revenue of $516 million for the quarter, compared to analyst estimates of $450.17 million. During the same quarter in the prior year, the company posted ($1.80) EPS. The firm’s quarterly revenue was up 62.8% on a year-over-year basis. On average, equities research analysts expect that California Resources Corporation will post ($5.77) earnings per share for the current year.
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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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