CRC - California Resources Corporation
| Previous Close | 21.24 |
| Open | 21.16 |
| Bid | 21.48 x 800 |
| Ask | 0.00 x 1300 |
| Day's Range | 21.00 - 21.98 |
| 52 Week Range | 13.26 - 50.34 |
| Volume | 1,514,887 |
| Avg. Volume | 2,325,922 |
| Market Cap | 1.066B |
| Beta (3Y Monthly) | 4.88 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -3.40 |
| Earnings Date | Feb 25, 2019 - Mar 1, 2019 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | 2015-09-08 |
| 1y Target Est | 35.64 |
- Market Realist•10 days ago
Futures Spread: Less Bearish Sentiments for Oil?
Will Oil Shift to a Higher Gear? (Continued from Prior Part) ## Futures spread On January 7, US crude oil February 2019 futures closed ~$3.1 below the February 2020 futures. On December 31, the futures spread was at a discount of ~$3.2. On December 31–January 7, US crude oil February futures rose 6.8%. ## Bearish sentiments reduced for oil The market sentiment towards the oil demand and supply situation is reflected in the futures spread. A contraction in the discount is usually accompanied by a rise in oil prices. In the last four trading sessions, the spread’s discount contracted and US crude oil prices rose by nearly seven percentage points. China’s dialogue with the US about the trade war and the fall in the US oil rig count, which we discussed in Part 2, might have supported oil prices. With inventories 8% above their five-year average, there might be an expansion in the discount going forward. ## Energy stocks On December 31–January 7, oil-weighted stocks California Resources (CRC), Callon Petroleum (CPE), and Denbury Resources (DNR) rose 20.2%, 21.6%, and 28.7%, respectively, and outperformed their peers. ## Forward curve As of January 7, US crude oil futures contracts for delivery for the next year were priced in ascending order. The price pattern is a negative sign for ETFs that follow US crude oil futures like the ProShares Ultra Bloomberg Crude Oil ETF (UCO) and the United States 12 Month Oil ETF (USL). Browse this series on Market Realist: * Part 1 - Will Oil Shift to a Higher Gear? * Part 2 - US Oil Production Growth Might Be Slower in 2019 * Part 3 - Falling Inventories Didn’t Help Oil’s Rise
- Market Realist•11 days ago
Oil ETFs Rose More than Oil Last Week
What Happened in the Energy Sector Last Week (Continued from Prior Part) ## Oil-tracking ETFs Between December 28 and January 4, the United States Oil ETF (USO), United States 12-Month Oil ETF (USL), and ProShares Ultra Bloomberg Crude Oil ETF (UCO) rose 6.8%, 7.4%, and 14%, respectively. These ETFs track US crude oil futures. USO holds active US crude oil futures, while USL holds US crude oil futures deliverable for each of the next 12 months. UCO tracks daily changes in the Bloomberg WTI Crude Oil Subindex. USO and USL outperformed US crude oil February futures, which rose 5.8% last week. Higher oil prices can boost oil-weighted stocks. California Resources (CRC), Callon Petroleum (CPE), and Denbury Resources (DNR), the strongest oil-weighted stocks, rose 14%, 14%, and 27.3%, respectively, last week. ## Long-term returns and forward curve Between February 11, 2016, and January 4, 2018, US crude oil active futures rose 83% from their 12-year low. USO, USL, and UCO rose 27.4%, 33.3%, and 13%, respectively. A negative roll yield, which occurs when expiring futures’ contract prices are lower than the following month’s futures contract prices, may have caused the lower returns. UCO’s actual and expected returns could also be different due to daily price changes. In a cost-of-carry model, ETFs’ underperformance due to negative roll yields reflects storage costs. On January 4, US crude oil futures for delivery next year closed in ascending order, which could be a negative sign for these ETFs’ returns. Continue to Next Part Browse this series on Market Realist: * Part 1 - What Goldman Sachs Thinks about Oil * Part 2 - Last Week in Review: Energy Outperforms Other Sectors * Part 3 - Last Week’s Top Energy Stocks
- Market Realist•11 days ago
Last Week’s Top Energy Stocks
What Happened in the Energy Sector Last Week (Continued from Prior Part) ## Energy stocks Between December 28 and January 4, upstream stock Denbury Resources (DNR) gained the most among our selected energy stocks, which included the following ETFs: * the Alerian MLP ETF (AMLP) * the Energy Select Sector SPDR ETF (XLE) * the VanEck Vectors Oil Services ETF (OIH) * the VanEck Vectors Oil Refiners ETF (CRAK) * the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) In addition to US energy companies, some foreign-headquartered integrated energy companies listed in the United States were also included: * Imperial Oil (IMO) * China Petroleum & Chemical (SNP) * Total (TOT) * YPF (YPF) * Petrobras (PBR) * BP (BP) ## Other strong performers Upstream stocks California Resources (CRC) and Callon Petroleum (CPE) were the fourth- and fifth-strongest gainers among our selected energy stocks last week, and oilfield services stock Nabors Industries (NBR) and midstream stock Shell Midstream Partners (SHLX) were second and third strongest. Among major energy ETFs, the Alerian MLP ETF (AMLP), the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), and the VanEck Vectors Oil Services ETF (OIH) were the top three gainers. ## Energy commodities and the broader market Broader markets’ rise and oil’s recovery may have helped the above energy stocks, which also beat energy commodities and the broader market last week. US crude oil February futures rose 5.6%, natural gas February futures fell 7.8%, and the S&P 500 rose 1.9%. Continue to Next Part Browse this series on Market Realist: * Part 1 - What Goldman Sachs Thinks about Oil * Part 2 - Last Week in Review: Energy Outperforms Other Sectors * Part 4 - Oil ETFs Rose More than Oil Last Week
- Market Realist•11 days ago
What Goldman Sachs Thinks about Oil
What Happened in the Energy Sector Last Week ## Goldman Sachs’s views on oil prices Goldman Sachs (GS) slashed its average WTI and Brent crude oil price estimates to $55.50 and $62.50 per barrel this year, from $64.50 and $70, respectively. Concerns about an economic slowdown could be behind the lower forecast, which still implies a 15.7% upside for WTI. ## US crude oil last week Between December 28 and January 4, US crude oil February futures rose 5.8% and closed at $47.96. US equity indexes’ recovery might have limited oil’s downside. ## Important price points For US crude oil, its 20-day and 50-day moving averages of $48.35 and $54.61, respectively, are important resistance zones. On the upside, $50.26 could be important for US crude oil until January 11. A rise in oil prices could boost oil-weighted stocks. California Resources (CRC), Callon Petroleum (CPE), and Denbury Resources (DNR), the strongest oil-weighted stocks, rose 14%, 14%, and 27.3%, respectively, last week. Any changes in US crude oil prices could affect US equity indexes such as the S&P 500 (SPY) and Dow Jones Industrial Average (DIA), which we’ll discuss next. Continue to Next Part Browse this series on Market Realist: * Part 2 - Last Week in Review: Energy Outperforms Other Sectors * Part 3 - Last Week’s Top Energy Stocks * Part 4 - Oil ETFs Rose More than Oil Last Week
- Market Realist•16 days ago
Oil Wasn’t the Only Catalyst for Oil-Weighted Stocks
How Oil-Weighted Stocks Performed Last Quarter(Continued from Prior Part)Oil-weighted stocks The following oil-weighted stocks could be the most sensitive to US crude oil’s movements. They might be impacted the most by oil’s price movement based on their correlations with US crude oil active futures in the fourth quarter of 2018: Denbury Resources (DNR) at 64.
- Market Realist•16 days ago
Why Certain Oil-Weighted Stocks Outperformed Last Quarter
How Oil-Weighted Stocks Performed Last Quarter(Continued from Prior Part)Oil-weighted stocks’ returns In the fourth quarter, our list of oil-weighted stocks fell 44.2%—compared to the 39.7% fall in US crude oil February futures.
- Market Realist•17 days ago
Oil’s Futures Spread: An Interesting Divergence
Oil's Must-Know Drivers in 2019(Continued from Prior Part)Futures spread On December 31, US crude oil February 2019 futures closed ~$3.2 below the February 2020 futures. On December 24, the futures spread was at a discount of ~$3.
Motley Fool•23 days agoOil Is Soaring, Taking These Dozen Oil Stocks Up With It
Less than a week after its biggest single-day drop in four years, Crude oil is surging. Here are the oil stocks getting the biggest boost.
Market Realist•24 days agoFutures Spread Indicates Weakness in Oil Prices
Why Oil Prices Are Helpless(Continued from Prior Part)Futures spread On December 24, US crude oil February 2019 futures closed ~$3.1 below the February 2020 futures. On December 17, the futures spread was at a discount of ~$2.
- Business Wire•26 days ago
California Resources Corporation to Participate in January 2019 Investor Conference
California Resources Corporation , an independent California-based oil and gas exploration and production company, announced that Mark Smith, CRC’s Sr. Executive Vice President and Chief Financial Officer, will be participating in the Goldman Sachs Global Energy Conference 2019 on January 8, 2019 in Miami, Florida.
- Motley Fool•29 days ago
Oil Is Cratering, Taking These Oil Stocks With It
In its worst single day in over four years, crude oil prices continue to fall, taking shares of these oil stocks down by double digits.
- Zacks•last month
Has California Resources (CRC) Outpaced Other Oils-Energy Stocks This Year?
Is (CRC) Outperforming Other Oils-Energy Stocks This Year?
- Zacks•last month
Are Options Traders Betting on a Big Move in California Resources (CRC) Stock?
Investors need to pay close attention to California Resources (CRC) stock based on the movements in the options market lately.
Market Realist•last monthHave OPEC and Non-OPEC Cuts Reduced Bearish Sentiments for Oil?
On December 10, US crude oil January 2019 futures closed ~$1.65 below January 2020 futures. On December 3, the futures spread was at a discount of ~$1.12. From December 3 to 10, US crude oil January futures fell 3.7%.
Zacks•last monthOPEC, Allies Agree to Oil Production Cuts: 4 Stocks to Buy
Oil prices rise after a group of the world's largest producers brokered a deal in Vienna, Austria, to curb production.
- Market Realist•last month
What’s Driving Oil-Weighted Stocks’ Returns?
Between November 27 and December 4, our list of oil-weighted stocks rose 0.6% compared to the 3.3% rise in US crude oil January futures. On average, our list of oil-weighted stocks underperformed US crude oil prices.
- Zacks•last month
Here's Why California (CRC) Stock is a Must Buy Right Now
Through the first nine months of 2018, California (CRC) drilled roughly 151 wells that yield 131,000 BoE per day.
- Zacks•2 months ago
Zacks.com featured highlights include: ArcBest, EnLink, American Airlines, Avis Budget and California Resources
Zacks.com featured highlights include: ArcBest, EnLink, American Airlines, Avis Budget and California Resources
- Zacks•2 months ago
5 Broker-Friendly Stocks to Tide Over Market Volatility
With market participants gripped by uncertainty-related fears on the one hand and robust earnings numbers on the other, selecting potential winning stocks is a difficult task.
- Insider Monkey•2 months ago
Is California Resources Corp (NYSE:CRC) a Good Stock to Buy?
Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds and investors’ positions as of the end of the third quarter. You can find write-ups about an individual hedge fund’s trades on numerous financial news websites. […]
- Zacks•2 months ago
California Resources Sees Hammer Chart Pattern: Time to Buy?
California Resources has been struggling lately, but the selling pressure may be coming to an end soon.
- Zacks•2 months ago
Anadarko Petroleum to Gain From Premium Shale Properties
Anadarko Petroleum Corporation (APC) to benefit from the strategic shift of focus on liquid-rich regions.
- Market Realist•2 months ago
Which Oil-Weighted Stocks Are Outdoing Oil’s Fall?
On November 14–21, our list of oil-weighted stocks fell 0.6%—compared to the 3.2% fall in US crude oil January futures. On average, our list of oil-weighted stocks outperformed US crude oil prices.
- Business Wire•2 months ago
California Resources Corporation to Participate in December 2018 Investor Conferences
California Resources Corporation , an independent California-based oil and gas exploration and production company, announced that its executives will be participating in
Market Realist•2 months agoOil Futures Spread: Why the Divergence Is Interesting
On November 19, US crude oil January 2019 futures closed ~$0.7 below the January 2020 futures. On November 12, the futures spread was at a discount of ~$1.4. Between November 12–19, US crude oil January futures fell 4.8%.
