In a report released today, Betty Jiang from Barclays maintained a Hold rating on California Resources Corp (CRC – Research Report), with a price target of $62.00. The company’s shares closed yesterday at $55.76.
According to TipRanks, Jiang is an analyst with an average return of -2.3% and a 38.79% success rate. Jiang covers the Energy sector, focusing on stocks such as APA, Coterra Energy, and Conocophillips.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for California Resources Corp with a $62.00 average price target, which is an 11.19% upside from current levels. In a report released on April 18, Bank of America Securities also assigned a Hold rating to the stock with a $57.00 price target.
Based on California Resources Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $726 million and a net profit of $188 million. In comparison, last year the company earned a revenue of $682 million and had a net profit of $83 million
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California Resources Corp (CRC) Company Description:
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.
Read More on CRC:
- Barclays starts U.S. Integrated Oil & E&P sector with Positive view
- California Resources initiated with an Equal Weight at Barclays
- California Resources’ Aera deal could close as soon as summer, says RBC Capital
- California Resources announces expiration of HSR waiting period for Aera deal
- California Resources price target lowered to $68 from $72 at Stifel
