Shares of California Resources Corporation (CRC) Rally 7.37%

California Resources Corporation (CRC) has been under a strong bear grip, hence the stock is down -3.61% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 5.79% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.37% in the last 1 week, and is up 0.61% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 0.49% and the 50-Day Moving Average is 11.29%.

California Resources Corporation (NYSE:CRC): The stock opened at $14.14 on Friday but the bulls could not build on the opening and the stock topped out at $14.47 for the day. The stock traded down to $13.10 during the day, due to lack of any buying support eventually closed down at $13.25 with a loss of -5.02% for the day. The stock had closed at $13.95 on the previous day. The total traded volume was 2,687,382 shares.


The company Insiders own 1.08% of California Resources Corporation shares according to the proxy statements. During last six month period, the net percent change held by insiders has seen a change of 2.54%. In a related news, Stevens Todd A., CEO of California Resources Corp had purchased 11,500 shares on March 3, 2016 in a transaction. The price per share was $0.85 and the total amount of the disclosed transaction was $9,775.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

California Resources Corporation (CRC) is an independent oil and natural gas exploration and production company, operating properties exclusively within the State of California. The Company has a mineral acreage consisting of approximately 2.4 million net acres spanning the states four oil and gas basins. The Companys four oil and gas basins include San Joaquin Basin, Los Angeles Basin, Ventura Basin and Sacramento Basin. It operates an average of approximately 26 drilling rigs across the state. It drilled approximately 1,048 development wells with approximately 847 wells in the San Joaquin basin, approximately 177 in the Los Angeles basin, approximately 21 in the Ventura basin and approximately 3 in the Sacramento basin. It also drilled approximately 9 exploration wells in the San Joaquin basin, approximately 4 in the Ventura basin and 1 in the Sacramento basin.

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