CALIFORNIA RESOURCES CORP (NYSE:CRC) - A High Growth Momentum Stock with Strong Technical Setup

CALIFORNIA RESOURCES CORP (NYSE:CRC) stands out as a potential candidate for high growth momentum investors, combining strong earnings momentum with a favorable technical setup. The stock meets criteria for both growth and technical strength, making it worth a closer look.

Growth Momentum Highlights

• Earnings & Revenue Growth: CRC posted a 42.7% year-over-year EPS growth in the most recent quarter, with sales surging 100.9%. Over the past 12 months, revenue growth reached 63.9%, reflecting strong business expansion.
• Positive Revisions & Surprises: Analysts have raised next-year EPS estimates by 0.75% over the last three months. The company has beaten revenue estimates in three of the past four quarters, with an average surprise of 12.6%.
• Free Cash Flow: Despite a year-over-year decline, FCF per share remains healthy at $5.08, supporting financial flexibility.
• Profit Margins: The latest quarter saw a profit margin of 12.6%, though variability in past quarters suggests some cyclicality.

Technical Strength & Setup

• Technical Rating (7/10): CRC shows a positive long-term and short-term trend, outperforming 76% of peers in the Oil, Gas & Consumable Fuels industry.
• Setup Quality (9/10): The stock is consolidating near a resistance zone between $47.86 and $48.25. A breakout above this level could signal further upside.
• Support Levels: Two key support zones exist at $46.55-$46.91 and $44.68-$45.66, providing clear stop-loss areas for traders.
• Recent Performance: CRC has gained 3.5% over the past month and 39.4% over three months, indicating strong momentum.

For a deeper technical analysis, review the full technical report for CRC.

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Disclaimer

This is not investing advice. The observations here are based on current data, but investors should conduct their own research before making decisions.