Somewhat Favorable Press Coverage Somewhat Unlikely to Impact California Resources (CRC) Share Price
Headlines about California Resources (NYSE:CRC) have trended somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. California Resources earned a coverage optimism score of 0.11 on Accern’s scale. Accern also gave news articles about the oil and gas producer an impact score of 45.6250594333317 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the news articles that may have effected Accern’s analysis:
- Beta factor is Very High in this Stock: California Resources Corporation (CRC) – Wallstreet Investorplace (wallstreetinvestorplace.com)
- California Resources Corporation (CRC) expected -27.40% EPS growth for next year – Wallstreet Investorplace (wallstreetinvestorplace.com)
- California Resources (CRC) Cut to “Strong Sell” at Zacks Investment Research (americanbankingnews.com)
- Active Stocks in the Spotlight: California Resources Corporation (NYSE:CRC), First Industrial Realty Trust Inc … – The Oracle Examiner (oracleexaminer.com)
- Intraday Trade Secrets – California Resources Corporation (NYSE: CRC) – Alpha Beta Stock (alphabetastock.com)
A number of equities research analysts recently commented on CRC shares. Zacks Investment Research downgraded California Resources from a “buy” rating to a “hold” rating in a research report on Monday, December 18th. Bank of America upgraded California Resources from an “underperform” rating to a “neutral” rating and set a $24.00 target price on the stock in a research report on Thursday, January 4th. Societe Generale downgraded California Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Goldman Sachs upgraded California Resources from a “sell” rating to a “neutral” rating and set a $27.50 target price on the stock in a research report on Thursday, February 1st. Finally, Imperial Capital upgraded California Resources from an “in-line” rating to an “outperform” rating and set a $26.00 target price on the stock in a research report on Monday, February 12th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $23.42.
California Resources (NYSE:CRC) last issued its quarterly earnings data on Monday, February 26th. The oil and gas producer reported ($0.33) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.21. The company had revenue of $455.00 million for the quarter, compared to the consensus estimate of $540.57 million. During the same period in the previous year, the firm earned ($1.76) earnings per share. The company’s revenue was up .7% compared to the same quarter last year. equities analysts predict that California Resources will post -2.59 EPS for the current fiscal year.
In related news, Director Harry T. Mcmahon acquired 35,530 shares of California Resources stock in a transaction on Thursday, March 1st. The shares were bought at an average cost of $14.18 per share, with a total value of $503,815.40. Following the completion of the purchase, the director now directly owns 48,773 shares of the company’s stock, valued at approximately $691,601.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.91% of the company’s stock.
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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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