CRC - California Resources Corporation

NYSE - NYSE Delayed Price. Currency in USD
1.1700
-0.0300 (-2.50%)
At close: 4:00PM EDT

1.2100 +0.04 (3.42%)
After hours: 7:43PM EDT

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Commodity Channel Index

Commodity Channel Index

Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close1.2000
Open1.2100
Bid1.1600 x 1400
Ask1.1700 x 800
Day's Range1.1300 - 1.2100
52 Week Range0.8500 - 20.1300
Volume1,371,891
Avg. Volume3,938,003
Market Cap57.86M
Beta (5Y Monthly)5.69
PE Ratio (TTM)N/A
EPS (TTM)-35.7480
Earnings DateAug 10, 2020 - Aug 14, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateSep 08, 2015
1y Target Est1.30
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Overvalued
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  • Moody's

    California Resources Corp. -- Moody's downgrades California Resources' CFR and PDR to Ca, lowers certain other ratings

    NOTE: On July 09, 2020, the press release was corrected as follows: In the Affirmations section of the debt list, for issuer California Resources Corp., the LGD rate of the Senior Secured Revolving Credit Facility was changed to LGD1. New York, July 07, 2020 -- Moody's Investors Service, ("Moody's") downgraded California Resources Corporation's (CRC) Corporate Family Rating (CFR) to Ca from Caa3, ratings on its senior secured first lien term loan due 2022 to Caa3 from Caa1 and ratings on its senior secured first lien term loan due 2021 to Ca from Caa3.

  • The Zacks Analyst Blog Highlights: Whiting Petroleum, Extraction OG, Chesapeake Energy and California Resources
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    The Zacks Analyst Blog Highlights: Whiting Petroleum, Extraction OG, Chesapeake Energy and California Resources

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  • California Resources (CRC) Reports Q1 Loss, Tops Revenue Estimates
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    California Resources (CRC) Reports Q1 Loss, Tops Revenue Estimates

    California Resources (CRC) delivered earnings and revenue surprises of 88.41% and 13.30%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

  • Market Recap: Tuesday, June 23
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    Market Recap: Tuesday, June 23

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  • Hedge Funds Never Been Less Bullish On California Resources Corporation (CRC)
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    Hedge Funds Never Been Less Bullish On California Resources Corporation (CRC)

    The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]

  • MarketWatch

    California Resources could file for bankruptcy this weekend--WSJ

    California Resources Corp. could file for bankruptcy as soon as next week, according a report in The Wall Street Journal, as the oil driller disclosed Monday that it failed to make certain interest payments due on May 29. The company said in an 8-K filing that it entered into forbearance agreements most of its lenders, who have agreed not to exercise "remedies" under the credit agreements. The WSJ report said, citing people familiar with the matter, the company has until Sunday to get an extension from its creditors; without the extension, the company will file for bankruptcy. The company has suffered from a sharp selloff in crude oil futures prices to start this year, as a result of the drop in demand from the COVID-19 pandemic and the price war between Saudia Arabia and Russia. Meanwhile, California Resources's stock rallied 35% on Monday after runnin up 34% on Friday, as oil prices have bounced sharply over the past several weeks. Still, The stock had tumbled 69.1% year to date, while crude oil futures have shed 37.4% and the S&P 500 has eased 0.5%.

  • Is the Options Market Predicting a Spike in California Resources (CRC) Stock?
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    Is the Options Market Predicting a Spike 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.

  • Oilprice.com

    CEOs Bank Big Bonuses As Oil Companies Go Bankrupt

    The oil and gas industry has taken a dark turn in recent months, with many producers filing for bankruptcy, though CEOs are still getting massive payouts

  • GlobeNewswire

    Laredo Petroleum Announces William Albrecht to Succeed Randy Foutch as Chairman of the Board of Directors

    Laredo Petroleum, Inc. (NYSE:LPI) ("Laredo" or "the Company"), today announced the appointment of William Albrecht as independent Chairman of the Board of Directors (the "Board"), succeeding Randy Foutch upon the expiration of Mr. Foutch's term on May 14, 2020. Mr. Albrecht, currently an independent member of the Board, will continue to serve on the Compensation Committee and Nominating and Corporate Governance Committee.

  • MarketWatch

    California Resources' stock plunges to pace NYSE losers after disclosure of 'going concern' warning

    Shares of California Resources Corp. plunged 29% in morning trading, to pace all NYSE decliners, after the oil and gas company disclosed that it was adding a "going concern" warning its its risk factors, given the impact the COVID-19 pandemic has had on crude oil prices. The company also disclosed late Monday that it is unable to meet the deadline to file its quarterly report with the Securities and Exchange Commission, and is relying on the SEC's order to allow delays amid the pandemic. The company said in the meantime, it is supplementing the risk factors previously disclosed in its annual report, given that travel restrictions, business closures and quarantining has led to an "unprecedented" reduction in demand for crude oil. "As previously disclosed, the company is continuing to pursue the restructuring of its balance sheet," the company stated. "In the event the company is not successful in restructuring its balance sheet, there is substantial doubt about the company's ability to continue as a going concern." The stock has plummeted 73.9% over the past three months, while crude oil futures have tumbled 49.0% and the S&P 500 has given up 13.3%.

  • Business Wire

    ATTENTION CALIFORNIA RESOURCES EMPLOYEES/INVESTORS: KlaymanToskes Commences Investigation into Damages Sustained During Coronavirus Pandemic in California Resources Stock with Full-Service Brokerage Firms

    KlaymanToskes ("KT"), www.klaymantoskes.com, announced today that it is investigating the damages sustained during the Coronavirus ("COVID-19") pandemic by employees and investors who held large positions in California Resources (NYSE:CRC) stock at full-service brokerage firms. Investment portfolios holding large positions can carry significant downside risks. The investigation focuses on full-service brokerage firms’ negligence and mismanagement of large positions that resulted in employees and investors suffering substantial losses.

  • Business Wire

    California Resources Corporation Annual Meeting to be Held in Virtual Format Only

    California Resources Corporation (NYSE: CRC), an independent California-based oil and gas exploration and production company, announced today that due to the public health impact of the coronavirus disease 2019 (COVID-19) pandemic and to support the health and well-being of its employees and shareholders, the location of its 2020 Annual Meeting of Shareholders has been changed. As previously announced, the Annual Meeting will be held on Wednesday, May 6, 2020 at 11:00 a.m., Pacific Time. In light of public health guidance regarding the coronavirus pandemic, the Annual Meeting will be held in a virtual meeting format only at https://web.lumiagm.com/219859143. Shareholders will not be able to attend the Annual Meeting physically. We expect to resume in-person annual meetings beginning with our 2021 Annual Meeting of Shareholders.

  • Moody's

    California Resources Corp. -- Moody's downgrades California Resources' CFR to Caa3; negative outlook

    Moody's Investors Service, ("Moody's") downgraded California Resources Corp.'s (CRC) Corporate Family Rating (CFR) to Caa3 from Caa1 and Probability of Default Rating (PDR) to Caa3-PD from Caa1-PD. The rating on the company's secured first lien revolving credit facility was downgraded to B2 from B1, its secured first lien term loan due 2022 was downgraded to Caa1 from B2 and its secured first lien term loan due 2021 was downgraded to Caa3 from Caa1. The rating on the secured second lien notes was downgraded to C from Caa2 and the ratings on the unsecured notes were downgraded to C from Caa3.

  • Some California Resources Corporation (NYSE:CRC) Analysts Just Made A Major Cut To Next Year's Estimates
    Simply Wall St.

    Some California Resources Corporation (NYSE:CRC) Analysts Just Made A Major Cut To Next Year's Estimates

    Today is shaping up negative for California Resources Corporation (NYSE:CRC) shareholders, with the analysts...

  • 7 Oil and Gas Stocks That Have Entered Dangerous Waters
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    Oil stocks, natural gas producers and other commodity-based firms stand apart from one another based on factors such as where they're located and how efficient their operations are. But much of their success boils down to this simple idea: The higher the price of the commodity, the bigger the profits.Unfortunately, the inverse is also true, which is why many energy stocks are getting pummeled right now.Oil prices were already struggling with the fallout from the U.S.-China trade war and its effect on the global economy. But the coronavirus' economic ripple effect across the world - combined with Saudi Arabia's volley against other oil producers - has sent West Texas Intermediate (U.S. crude) oil prices to around $20 per barrel. Those are lows not seen since February 2002.The specific issue: Oil prices (and natural gas, for that matter) are well below the cost of production for even some of the leanest companies out there. Thus, many energy producers are losing money simply by virtue of operating their businesses. Mounting losses, rising debts, cut dividends and even bankruptcies are all on the table.Here are seven oil stocks and natural gas producers that are in considerable danger at the moment. While it's understandable that investors might want to seek out values in the beat-up energy sector, these are seven stocks to avoid. SEE ALSO: 15 Dividend Cuts and Suspensions Chalked Up to the Coronavirus

  • Business Wire

    California Resources Corporation Provides Comment on Market Speculation

    California Resources Corporation (NYSE: CRC), an independent California-based oil and gas exploration and production company, today issued the following statement on media speculation:

  • Here's Why We're Watching Corsurex Resource's (CSE:CRC) Cash Burn Situation
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    Just because a business does not make any money, does not mean that the stock will go down. For example, although...

  • Thomson Reuters StreetEvents

    Edited Transcript of CRC earnings conference call or presentation 26-Feb-20 10:00pm GMT

    Q4 2019 California Resources Corp Earnings Call

  • Business Wire

    California Resources Corporation Announces Termination of its Exchange and Subscription Offers and Consent Solicitation

    California Resources Corporation (NYSE: CRC) ("CRC" or the "Company") today announced the termination of its private exchange and subscription offers and consent solicitation (the "Offers") relating to its outstanding 8% Senior Secured Second Lien Notes due 2022 (the "8% Notes"), 5½% Senior Notes due 2021 (the "5½% Notes") and 6% Senior Notes due 2024 (the "6% Notes" and, together with the 8% Notes and the 5½% Notes, the "Notes"). The Company has also terminated the private subscription agreements (the "Supporting Subscription Agreements") it entered into with certain significant holders of the Notes (the "Supporting Holders") because the obligations of the Supporting Holders under the Supporting Subscription Agreements were conditioned upon the consummation of the Offers.

  • Business Wire

    California Resources Corporation Reduces Capital to Mechanical Integrity Level

    California Resources Corporation (NYSE: CRC) announced today it is reducing its capital investment due to recent changes in the commodity market to a level that maintains the mechanical integrity of its facilities to operate them in a safe and environmentally responsible manner. CRC has effectively ceased investment in its internally funded field development and growth projects until the company sees a higher degree of market clarity. The company was already on pace to invest less than $35 million of internally funded capital in the first quarter. Additionally, CRC has monetized all of its crude oil hedge positions following the first quarter to enhance the company’s flexibility in this volatile time period. These sales along with expected March hedge settlements are raising approximately $76 million and monetizing the maximum spread in our put-spread hedge positions.

  • Business Wire

    California Resources Corporation Announces Early Results of Its Exchange and Subscription Offers and Consent Solicitation With Strong Participation

    California Resources Corporation (NYSE: CRC) ("CRC" or the "Company"), today announced the early participation results of its private exchange and subscription offers (the "Offers") relating to its outstanding 8% Senior Secured Second Lien Notes due 2022 (the "8% Notes"), 5½% Senior Notes due 2021 (the "5½% Notes") and 6% Senior Notes due 2024 (the "6% Notes" and, together with the 8% Notes and the 5½% Notes, the "Notes").

  • Should You Worry About California Resources Corporation's (NYSE:CRC) CEO Pay?
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