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 $883,821 were sold by Hayat Omar on Dec 12 ’24. At $55.18 per share, Hayat Omar sold 16,016 shares. The insider’s holdings dropped to 30,940 shares worth approximately $1.68 million following the completion of this transaction.
Also, Preston Michael L. sold 83,000 shares, netting a total of over 4,580,559 in proceeds. Following the sale of shares at $55.19 each, the insider now holds 41,938 shares.
Before that, Preston Michael L. had added 83,000 shares to its account. In a trade valued at $4,580,561, the Officer bought California Resources Corporation shares for $55.19 each.
As published in their initiating research note from Truist on January 13, 2025, California Resources Corporation [CRC] has been a Buy and the price target has been revised to $75. Analysts at JP Morgan started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid December. As of October 24, 2024, Jefferies has initiated its “Buy” rating for CRC. Earlier on October 22, 2024, Stephens initiated its rating. Their recommendation was “an Overweight” for CRC stock.
Analyzing CRC Stock Performance
During the last five days, there has been a surge of approximately 0.72%. Over the course of the year, California Resources Corporation shares have jumped approximately 4.57%. Shares of the company reached a 52-week high of $55.06 on 01/22/25 and a 52-week low of $51.47 on 01/03/25. A 50-day SMA is recorded $54.91, while a 200-day SMA reached $52.02. Nevertheless, trading volume fell to 0.52 million shares from 0.97 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 53.80, which, if violated, would cause prices to drop to 53.34. In the upper region, resistance lies at 54.89. The next price resistance is at 55.52. RSI (Relative Strength Index) is 55.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.93, which suggests the price will decrease in the coming days. Percent R is at 17.05%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
