California Resources (CRC) Rating Increased to Outperform at Imperial Capital
California Resources (NYSE:CRC) was upgraded by investment analysts at Imperial Capital from an “in-line” rating to an “outperform” rating in a research note issued to investors on Monday, MarketBeat.com reports. The firm presently has a $26.00 price target on the oil and gas producer’s stock. Imperial Capital’s price objective indicates a potential upside of 42.00% from the stock’s current price.
CRC has been the topic of a number of other reports. Morgan Stanley increased their price target on shares of California Resources from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Societe Generale downgraded shares of California Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of California Resources from a “sell” rating to a “hold” rating and set a $26.00 price target on the stock in a research report on Thursday, January 18th. Bank of America upgraded shares of California Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th. Finally, Goldman Sachs Group upgraded shares of California Resources from a “sell” rating to a “neutral” rating and set a $27.50 price target on the stock in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $23.42.
Shares of California Resources (CRC) opened at $18.31 on Monday. The firm has a market cap of $784.91, a P/E ratio of -3.66 and a beta of 6.26. The company has a debt-to-equity ratio of -8.78, a current ratio of 0.61 and a quick ratio of 0.53. California Resources has a 52-week low of $6.47 and a 52-week high of $25.06.
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About California Resources
California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produced approximately 140 thousand barrels of oil equivalent per day (MBoe/d), as of December 31, 2016. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe).
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