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California Resources Corp (CRC) Gets a Buy Rating from RBC Capital

In a report issued on July 18, Scott Hanold from RBC Capital maintained a Buy rating on California Resources Corp (CRCResearch Report), with a price target of $70.00. The company’s shares closed last Thursday at $41.04.

According to TipRanks.com, Hanold is a top 100 analyst with an average return of 26.9% and a 62.0% success rate. Hanold covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Northern Oil And Gas.

Currently, the analyst consensus on California Resources Corp is a Moderate Buy with an average price target of $56.75, a 39.2% upside from current levels. In a report issued on July 20, MKM Partners also initiated coverage with a Buy rating on the stock with a $48.00 price target.

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The company has a one-year high of $50.44 and a one-year low of $25.42. Currently, California Resources Corp has an average volume of 881.2K.

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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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