Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. California Resources Corporation shares valued at $530,000 were sold by Repetti Noelle M. on Sep 17 ’24. At $53.00 per share, Repetti Noelle M. sold 10,000 shares. The insider’s holdings dropped to 17,301 shares worth approximately $0.9 million following the completion of this transaction.
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Also, Repetti Noelle M. purchased 10,000 shares, netting a total of over 530,000 in proceeds.
Before that, Leon Francisco had sold 7,500 shares from its account. In a trade valued at $368,878, the President and CEO traded California Resources Corporation shares for $49.18 each. Upon closing the transaction, the insider’s holdings decreased to 7,500 shares, worth approximately $8.63 million.
As published in their initiating research note from UBS on October 16, 2024, California Resources Corporation [CRC] has been a Buy and the price target has been revised to $68. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late August. As of August 02, 2024, TD Cowen has initiated its “Buy” rating for CRC.
Analyzing CRC Stock Performance
During the last five days, there has been a surge of approximately 0.74%. Over the course of the year, California Resources Corporation shares have dropped approximately -5.08%. 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 $51.01, while a 200-day SMA reached $51.34. Nevertheless, trading volume fell to 1.17 million shares from 0.53 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 51.51, which, if violated, would cause prices to drop to 51.11. In the upper region, resistance lies at 52.59. The next price resistance is at 53.27. RSI (Relative Strength Index) is 49.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.64, which suggests the price will decrease in the coming days. Percent R is at 65.42%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
