CRC - California Resources Corporation

NYSE - NYSE Delayed Price. Currency in USD
1.4600
+0.0200 (+1.39%)
At close: 4:00PM EDT

1.4600 0.00 (0.00%)
After hours: 4:30PM EDT

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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close1.4400
Open1.5200
Bid1.4500 x 27000
Ask1.4700 x 3000
Day's Range1.4500 - 1.5300
52 Week Range0.8500 - 20.7800
Volume1,793,345
Avg. Volume4,270,988
Market Cap72.064M
Beta (5Y Monthly)6.00
PE Ratio (TTM)N/A
EPS (TTM)-0.5710
Earnings DateJun 08, 2020 - Jun 12, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateSep 08, 2015
1y Target Est1.75
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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    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.

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  • 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%.

  • California Resources Warns It May Collapse After Oil Crash
    Bloomberg

    California Resources Warns It May Collapse After Oil Crash

    (Bloomberg) -- California Resources Corp. warned it may not be able to stay in business if it can’t repair its balance sheet amid the worst crude-market crash in history.California’s biggest oil producer will delay submitting its quarterly report to regulators until next month and ditched its guidance for the rest of this year because of the effects of the Covid-19 pandemic, the company said Monday in a filing. Tumbling demand for its crude forced the company to shut in the equivalent of 5,000 barrels a day of oil production.“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 Los Angeles-based explorer said.California Resources has struggled to manage its debt since its spinoff from Occidental Petroleum Corp. in late 2014, during the early stages of a crash in crude prices. As recently as late March, the company was said to be seriously considering bankruptcy, according to people with knowledge of the matter.The shares have lost nearly three quarters of their value this year alone. Colony Capital Inc., the hedge fund founded by Tom Barrack Jr., announced a $320 million deal last year to back California Resources.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • 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.

  • California Resources (CRC) Expected to Beat Earnings Estimates: Should You Buy?
    Zacks

    California Resources (CRC) Expected to Beat Earnings Estimates: Should You Buy?

    California Resources (CRC) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • 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.

  • Implied Volatility Surging for California Resources (CRC) Stock Options
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    Implied Volatility Surging for California Resources (CRC) Stock Options

    Investors need to pay close attention to California Resources (CRC) stock based on the movements in the options market lately.

  • 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

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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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  • 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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