Brokerage Firm Rating Update on California Resources Corporation (CRC)

California Resources Corporation (CRC) : 3 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on California Resources Corporation (CRC). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 4 Wall Street Analysts endorse the stock as a Hold with a rating of 3.18.

California Resources Corporation (CRC) : The highest short term price target forecast on California Resources Corporation (CRC) is $20 and the lowest target price is $19. A total of 2 equity analysts are currently covering the company. The average price of all the analysts is $19.5 with a standard deviation of $0.71.


Company shares have received an average consensus rating of Hold for the current week

California Resources Corporation (NYSE:CRC): The stock opened at $10.55 and touched an intraday high of $11.17 on Wednesday. During the day, the stock corrected to an intraday low of $10.51, however, the bulls stepped in and pushed the price higher to close in the green at $10.91 with a gain of 4.90% for the day. The total traded volume for the day was 2,935,744. The stock had closed at $10.4 in the previous trading session.

California Resources Corporation (CRC) is an independent oil and natural gas exploration and production company, operating properties exclusively within the State of California. The Company has a mineral acreage consisting of approximately 2.4 million net acres spanning the states four oil and gas basins. The Companys four oil and gas basins include San Joaquin Basin, Los Angeles Basin, Ventura Basin and Sacramento Basin. It operates an average of approximately 26 drilling rigs across the state. It drilled approximately 1,048 development wells with approximately 847 wells in the San Joaquin basin, approximately 177 in the Los Angeles basin, approximately 21 in the Ventura basin and approximately 3 in the Sacramento basin. It also drilled approximately 9 exploration wells in the San Joaquin basin, approximately 4 in the Ventura basin and 1 in the Sacramento basin.

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