Stifel Nicolaus analyst Nathaniel Pendleton maintained a Buy rating on California Resources Corp (CRC – Research Report) yesterday and set a price target of $64.00. The company’s shares closed yesterday at $42.50.
Pendleton covers the Utilities sector, focusing on stocks such as Denbury, Talos Energy, and California Resources Corp. According to TipRanks, Pendleton has an average return of -1.5% and a 40.00% success rate on recommended stocks.
California Resources Corp has an analyst consensus of Moderate Buy, with a price target consensus of $62.00, which is a 45.88% upside from current levels. In a report released on January 17, RBC Capital also maintained a Buy rating on the stock with a $68.00 price target.
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Based on California Resources Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $882 million and a net profit of $426 million. In comparison, last year the company earned a revenue of $713 million and had a net profit of $103 million
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California Resources produces oil and natural gas in California. At the end of 2018, the company reported net proved reserves of 618 million barrels of oil equivalent. Net production averaged 132 thousand barrels of oil equivalent per day in 2018 at a ratio of 75% oil and natural gas liquids and 25% natural gas.
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