Analysis: California Resources Corporation (NYSE:CRC) Stock Target Increased Today
In a very recent research note sent to investors and clients by Susquehanna on Thursday, 3 December, the firm, California Resources Corporation (NYSE:CRC), had their target price per share downgraded to $4.50. Analusts at present have a solid “Neutral” rating on the stock.
From a total of 7 analysts covering California Resources Corporation (NYSE:CRC) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $12 while the lowest target price is $2.5. The mean of all analyst targets is $6.07 with a 132.88% above today’s ($3.65) stock price. California Resources Corporation was the topic of 5 analyst reports since August 24, 2015 according to the firm StockzIntelligence Inc. Ladenburg Thalmann initiated shares on November 23 with “Buy” rating.
Approximately 2.33 million shares of stock traded hands. California Resources Corp (NYSE:CRC) has declined 59.57% since April 30, 2015 and is downtrending. It has underperformed by 59.28% the S&P500.
California Resources Corporation is an independent oil and natural gas exploration and production company, operating properties exclusively within the State of California. The company has a market cap of $1.46 billion. The Firm has a mineral acreage consisting of approximately 2.4 million net acres spanning the state’s four gas and oil basins. It currently has negative earnings. The Company’s four gas and oil basins include San Joaquin Basin, Los Angeles Basin, Ventura Basin and Sacramento Basin.
According to Zacks Investment Research, “California Resources Corporation is engaged in exploration and production of oil and gas. The Company produces, gathers, processes and markets crude oil, natural gas, natural gas liquids and electricity primarily in the State of California. California Resources Corporation is based in Los Angeles, California.” Get a free copy of the Zacks research report on California Resources Corp (CRC).