On Jan. 06, Goldentree Asset Management LP divested U.S. $924,214 in shares of California Resources Corporation. The 10% sold 36,825 shares at a price per share of $25.10. The transaction decreased this specific insider’s holdings to 38,580,474 shares worth around $945.22 million at present.
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CRC Price Performance
On Wall Street, California Resources Corporation [NYSE:CRC] finished Friday’s session down -1.41% at $24.50. The stock went up to $25.40 at the same session while its lowest single day price was $24.23. In the last five days, it saw a rise of about 3.86%, California Resources Corporation shares gained by almost 3.86% since the beginning of the year. However, the share price has dropped to as low as -12.18% below its one year high.
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CRC Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 24.02 level, and in case of violation of this particular level, it will cause more drop to 23.54 level. On the upper level, 25.88 is still the key resistance. The stock may increase to the subsequent resistance at 25.19. The Relative Strength Index (RSI) pinned on the 14-day chart is 62.71, implying a neutral technical stance while the MACD stands at 2.29, meaning price will increase in the next trading period. Percent R indicator moved to 29.65%, implying bullish price movement. Stochastic %K at 73.71% suggest holding the stock.
What is the short interest in California Resources Corporation?
Short interest in the California Resources Corporation stock has plunged, decreasing by -0.31 million shares to total 0.38 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 68340.0, data from Yahoo Finance shows. The increase of 82.11% suggests the stock saw some increased bearish sentiment.
California Resources Corporation’s Biggest Shareholders: Who Owns California Resources Corporation [CRC]?
Filings by GoldenTree Asset Management LP showed that the firm now holds a total of 19,348,228 shares or roughly 23.22% of the outstanding CRC shares. This means their shares have reduced by 0 from the 19,348,228 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Ares Management LLC updated stake is worth $378,028,183.
CRC Earnings Forecast For The Current Quarter
California Resources Corporation [CRC] is expected to report strong earnings results for the quarter ending on Jun 2020. Consensus estimates give the company expected revenues of $285.1M and an earnings per share of $0 for Jun 2020. Looking further ahead, the company is expected to report revenue of $387.7M at an EPS of $0 for Sep 2020.
CRC Earnings Estimates For The Current Year
For the financial year, California Resources Corporation [NYSE:CRC] is expected to bring in revenue of $1.64B. The returns are nearly $-990.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. As for sales, forecasts are for a decrease of -37.90% in the current fiscal year and a further -3.90% over the following year.
