Blurbs

RBC Capital Remains a Buy on California Resources Corp (CRC)

In a report issued on February 24, 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 Friday at $40.15.

According to TipRanks.com, Hanold is a 5-star analyst with an average return of 19.6% and a 59.1% success rate. Hanold covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Whiting Petroleum Corporation, and Continental Resources.

Currently, the analyst consensus on California Resources Corp is a Strong Buy with an average price target of $61.33.

See today’s best-performing stocks on TipRanks >>

California Resources Corp’s market cap is currently $3.23B and has a P/E ratio of 5.35.

Based on the recent corporate insider activity of 123 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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:

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