What’s Fueling Investor Confidence? – FS KKR Capital Corp. (FSK), California Resources Corporation (CRC)

You should consider shares of FS KKR Capital Corp. (NYSE:FSK) and California Resources Corporation (NYSE:CRC) if you are looking for a great stocks to invest in. Starting with the FSK shares, which traded at $6.28 at the close of the recent session, dropping -0.48%. On Tuesday, the company’s shares shed -$0.03 from its value which represented in intraday trading. The stock is now 5.19% higher in year-to-date (YTD) trading. FSK’s intraday high was $6.315 while its lowest price touched $6.22. The stock’s 52-week high price is $6.64, which means the current price is at -5.42%. In terms of trading activity, the daily trading volume rose to 2070275 against 200-day average trading volume of 1,845,882 shares.

What are analyst forecasts for FS KKR Capital Corp. (NYSE:FSK)?

At a consensus rating of 4.00, FSK is trending as a streaking Moderate Buy, as it has been the case a month ago when 4 analysts called it a Moderate Buy. Two months ago, 4 analysts recommended, on average, that FSK stock is a Moderate Buy. The Financial company’s shares’ overall bearish trend saw it close higher on Tuesday compared to its opening price of $6.29 on the day.

Forecasts for FS KKR Capital Corp. (NYSE:FSK) give the stock a fair value for the growth of 10.29% from its last price. The 12-month price forecast for the stock by analysts puts the stock’s mean price target at $7.00, which means the price per share could rise by nearly $0.72. The price range target is between a low of $6.00 and a high of $8.00. The stock would need to gain by about $21.5 to hit the estimated high or 0.81% from its 12-month low.

The consensus among 8 analysts is that it is a good time for one to Overweight in the FS KKR Capital Corp. 3 analysts rate FSK as a Buy, with 0 of 8 analysts rate it as a Sell. 0 have valued the stock as Overweight and 5 have recommended that investors Hold.

FS KKR Capital Corp. (NYSE:FSK) Upgrades and Downgrades

In terms of rating changes, Jefferies on October 10, 2019, Initiated FS KKR Capital Corp. (FSK) at Buy. They believe the stock could reach $8 in the near term. Analysts at JP Morgan have assigned a Overweight rating for the stock in their research note on August 09, 2019 with an estimated price target of $6.50. Moreover, Raymond James analysts issued a rating of Mkt Perform for the stock on June 05, 2019.

California Resources Corporation (NYSE:CRC) adds -$0.07 on Tuesday

The CRC stock has tanked -61.33% year-to-date and is currently trading at $6.59, which is -78.16% below its 52-week high. The company shares lost -1.05% on the day and have risen nearly 40.81% off a low hit. At current levels, California Resources Corporation has a valuation of about $3.10B. As of 12/03/19, this stock has risen 1.38% during the week and closed at $6.66 in the previous session. However, recent California Resources Corporation stock performance shows that CRC shares are -21.45% down over the last month, and -26.70% down for the last three months.

Earnings per share (EPS) estimates for the current quarter are -$0.02, with the trailing 12-month share earnings at $7.73. The ratio is expected to be up by 154.30% for the current year 2019 and -96.30% for next year. Over the next 5-year period, earnings per share will be -23.00%. But will the CRC stock surprise in the current quarter results, where the $0.35 actual EPS reported on 9/29/2019 surprised by 209.40% or was higher by $0.67 from the estimated -$0.32.

Sales Growth to decline -12.70% for the year

How well will California Resources Corporation perform as a business over the current quarter, year and next 5-year period? Compared to the year-ago quarter, analysts forecast the company to bring in between $572.15M and $703M in current quarter sales. The consensus estimated for the current quarter is $626.21M from sales. Forecasts for this fiscal year are between $2.41B and $2.83B and the consensus estimate for sales is at $2.64B. CRC has its next quarter sales estimates at between $532.6M and $691M, with the quarter-over-quarter growth estimates at -4.80% and the annual growth forecast for the year at -12.70%.

Who owns shares in California Resources Corporation (CRC)?

Let’s briefly focus on the share ownership of the California Resources Corporation (NYSE:CRC) stock, where we find that 76.92% of shares are held by institutions. Vanguard Group, Inc. (The) tops the list of institutional owners as it is holding 4.04 million shares or 8.23% of shares outstanding. Blackrock Inc. and State Street Corporation held 3.39 million and 3.14 million representing 6.90% and 6.40% respectively at the close of the last trading session. As of Sep 29, 2019, Cyrus Capital Partners, L.p. accounted for 2.04 million shares at over 20.8 million. This represented 4.15% of shares outstanding. Encompass Capital Advisors, LLC held 1.57 million shares at over 15.97 million representing 3.19% of shares outstanding.

CRC Insider Activity

Insider activity can also give a signal in terms of price direction. Looking at California Resources Corporation (CRC), a total of 20000 shares have been sold by insiders over the last 6 months while 25223 shares were added in the same time span. On 2/12/2019, President & Chief Executive Officer by the name Stevens Todd A /oxy/ sold 21157.0 shares worth $386100.0 at the price of $18.25 per share. Filings also show that Stevens Todd A /oxy/ sold a total of 15122.0 shares on 2/20/2019 valued at $335400.0. Since the last insider activity, the company’s share price has dropped -69.97%.