The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. California Resources Corporation shares valued at $1,002,291 were purchased by Kendall Christian S on Aug 13 ’24. At $47.97 per share, Kendall Christian S acquired 20,895 shares. The insider’s holdings grew to 24,600 shares worth approximately $1.2 million following the completion of this transaction.
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Also, McFarland Mark Allen sold 37,000 shares, netting a total of over 1,779,710 in proceeds. Following the sale of shares at $48.10 each, the insider now holds 104,939 shares.
Before that, McFarland Mark Allen had sold 18,000 shares from its account. In a trade valued at $850,385, the Director traded California Resources Corporation shares for $47.24 each. Upon closing the transaction, the insider’s holdings decreased to 18,000 shares, worth approximately $4.26 million.
As published in their initiating research note from TD Cowen on August 02, 2024, California Resources Corporation [CRC] has been a Buy and the price target has been revised to $65. As of April 10, 2024, Barclays has initiated its “an Equal weight” rating for CRC. Earlier on January 05, 2024, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for CRC stock which previously was a “a Buy”.
Analyzing CRC Stock Performance
During the last five days, there has been a surge of approximately 7.11%. Over the course of the year, California Resources Corporation shares have dropped approximately -10.46%. Shares of the company reached a 52-week high of $57.88 on 04/12/24 and a 52-week low of $43.09 on 08/06/24. A 50-day SMA is recorded $49.76, while a 200-day SMA reached $51.44. Nevertheless, trading volume fell to 0.74 million shares from 0.63 million shares the previous day.
Support And Resistance Levels for California Resources Corporation (CRC)
According to the 24-hour chart, there is a support level at 48.37, which, if violated, would cause prices to drop to 47.77. In the upper region, resistance lies at 49.89. The next price resistance is at 50.81. RSI (Relative Strength Index) is 49.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.30, which suggests the price will decrease in the coming days. Percent R is at 37.02%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
