In a report released today, Scott Hanold from RBC Capital maintained a Buy rating on California Resources Corp (CRC – Research Report), with a price target of $65.00. The company’s shares opened today at $42.27.
Hanold covers the Utilities sector, focusing on stocks such as Diamondback, Permian Resources, and California Resources Corp. According to TipRanks, Hanold has an average return of 22.1% and a 62.05% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for California Resources Corp with a $61.75 average price target, which is a 46.08% upside from current levels. In a report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $64.00 price target.
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CRC market cap is currently $3.12B and has a P/E ratio of 2.98.
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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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