California Resources (CRC) Earning Somewhat Favorable Media Coverage, Analysis Shows
News stories about California Resources (NYSE:CRC) have been trending somewhat positive on Wednesday, Accern reports. Accern scores the sentiment of media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. California Resources earned a coverage optimism score of 0.08 on Accern’s scale. Accern also gave news articles about the oil and gas producer an impact score of 45.0835530013421 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Here are some of the media stories that may have impacted Accern Sentiment Analysis’s analysis:
- How Does California Resources Corporation’s (NYSE:CRC) EPS Growth Stack Up Against Industry Performance? (finance.yahoo.com)
- Reviewing California Resources (CRC) & Its Rivals (americanbankingnews.com)
- California wildfire now 15% contained – Seeking Alpha (seekingalpha.com)
- Investors can’t just brush off: California Resources Corporation (CRC), Iconix Brand Group, Inc. (ICON) – Market Movers (financialqz.com)
- Financial Analysis: California Resources (CRC) and Its Competitors (americanbankingnews.com)
Several research analysts recently weighed in on CRC shares. Morgan Stanley reiterated an “equal weight” rating on shares of California Resources in a research report on Saturday, September 16th. Zacks Investment Research upgraded California Resources from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective for the company in a research report on Wednesday, October 18th. Societe Generale upgraded California Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Imperial Capital started coverage on California Resources in a research report on Tuesday, October 3rd. They issued an “in-line” rating and a $12.00 price objective for the company. Finally, ValuEngine lowered California Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.25.
California Resources (CRC) opened at $16.64 on Wednesday. California Resources has a 52-week low of $6.47 and a 52-week high of $23.42. The company has a debt-to-equity ratio of -8.78, a quick ratio of 0.53 and a current ratio of 0.61.
California Resources (NYSE:CRC) last released its quarterly earnings results on Monday, November 6th. The oil and gas producer reported ($1.22) EPS for the quarter, topping the consensus estimate of ($1.61) by $0.39. The firm had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $476.87 million. During the same quarter in the prior year, the business earned ($1.75) earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. research analysts anticipate that California Resources will post -4.67 earnings per share for the current fiscal year.
About California Resources
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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