Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. California Resources Corporation shares valued at $488,928 were sold by Repetti Noelle M. on Nov 06 ’24. At $55.75 per share, Repetti Noelle M. sold 8,770 shares. The insider’s holdings dropped to 8,531 shares worth approximately $0.49 million following the completion of this transaction.
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Also, Leon Francisco sold 12,500 shares, netting a total of over 700,798 in proceeds. Following the sale of shares at $56.06 each, the insider now holds 153,857 shares.
Before that, FRANCISCO LEON had added 12,500 shares to its account. In a trade valued at $674,500, the Officer bought California Resources Corporation shares for $53.96 each.
As published in their initiating research note from Jefferies on October 24, 2024, California Resources Corporation [CRC] has been a Buy and the price target has been revised to $64. Analysts at Stephens started covering the stock with ‘”an Overweight”‘ outlook in a report released in late October. As of October 16, 2024, UBS has initiated its “Buy” rating for CRC. Earlier on August 21, 2024, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for CRC stock which previously was a “a Neutral”.
Analyzing CRC Stock Performance
During the last five days, there has been a surge of approximately 1.11%. Over the course of the year, California Resources Corporation shares have jumped approximately 5.12%. Shares of the company reached a 52-week high of $60.41 on 11/06/24 and a 52-week low of $43.09 on 08/06/24. A 50-day SMA is recorded $52.52, while a 200-day SMA reached $51.60. Nevertheless, trading volume fell to 0.62 million shares from 0.78 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 57.02, which, if violated, would cause prices to drop to 56.55. In the upper region, resistance lies at 58.38. The next price resistance is at 59.27. RSI (Relative Strength Index) is 63.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.73, which suggests the price will increase in the coming days. Percent R is at 30.14%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
