Economy

The California Resources Corp (CRC) Bonds Trading 3.4% Lower

The California Resources Corp (CRC) Bonds Trading 3.4% Lower

The company's forward price to earnings ratio for next fiscal year is 0. On Friday, June 30 the stock rating was downgraded by Bank of America to "Underperform". California Resources Corporation (NYSE:CRC)'s short interest is 13.94 million shares, or 36.27% of the float. The oil and gas producer reported ($1.22) earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of ($1.61) by $0.39. For the current year the company's revenue estimates are $2.04 Billion compared to low analyst estimates of $1.96 Billion and high estimates of $2.1 Billion according to the prediction of 6 analysts. News Corporation (NASDAQ:NWSA), at its latest closing price of $15.79, it has a price-to-book ratio of 0.84, compared to an industry average at 2.90. The co's performance for 6 months was moved up of 31.05%, 1-year performance stands at 4.74% and year to date showing reduced performance of -25.27%.

COPYRIGHT VIOLATION WARNING: This news story was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and worldwide trademark and copyright legislation. The legal version of this piece can be viewed at https://weekherald.com/2017/11/20/california-resources-corporation-crc-forecasted-to-earn-fy2017-earnings-of-4-79-per-share.html. For the long-term approach of trading or also can for short period of time, 200 days MA can also help to get idea about trading, CRC has 37.15% which indicates Bullish trends and this can also make isolating trends easier. Societe Generale raised California Resources Corporation from a "hold" rating to a "buy" rating in a research note on Tuesday, November 7th. ValuEngine raised shares of California Resources Corporation from a "strong sell" rating to a "sell" rating in a research report on Tuesday, September 26th. Finally, Morgan Stanley raised California Resources Corporation from an "equal weight" rating to an "overweight" rating and set a $12.00 price objective for the company in a research note on Tuesday, November 7th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock now has an average rating of "Hold" and a consensus target price of $14.25.

California Resources Corporatio (NYSE:CRC) shares traded on -1.69% below secure line and closed at $14.52. The value of the investment in California Resources Corporatio went from $132,000 to $1,075,000 a change of 714.4% since the last quarter.

The California Resources Corp (CRC) Bonds Trading 3.4% Lower
The California Resources Corp (CRC) Bonds Trading 3.4% Lower

The company now has a P/E ratio of N/A and the market value is 639.59M.

Hedge funds have recently made changes to their positions in the stock. California Resources Corp's revenue for the quarter was up 83.2% on a year-over-year basis. This represents a decrease of -1% in the number of shares being shorted compared to the previous reading, and implies that investors felt less pessimistic about the stock during the past two weeks. Janus Henderson Group PLC lifted its stake in California Resources Corporation by 7.6% in the second quarter. Stock's twelve month price oscillated between $23.42 and $6.47. California Resources Corp (NYSE:CRC) last posted its earnings results on Thursday, May 4th. American International Group Inc. now owns 19,524 shares of the oil and gas producer's stock worth $294,000 after purchasing an additional 630 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of California Resources Corporation by 2.2% during the 1st quarter. Teachers Advisors LLC now owns 64,044 shares of the oil and gas producer's stock worth $963,000 after purchasing an additional 1,780 shares in the last quarter.

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