California Resources (NYSE:CRC) was upgraded by research 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 currently has a $26.00 price target on the oil and gas producer’s stock. Imperial Capital’s price target would indicate a potential upside of 38.74% from the stock’s previous close.
CRC has been the subject of several other reports. Morgan Stanley boosted their price objective 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. Zacks Investment Research upgraded shares of California Resources from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective for the company in a research report on Wednesday, October 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. Societe Generale downgraded shares of California Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Goldman Sachs Group upgraded shares of California Resources from a “sell” rating to a “neutral” rating and set a $27.50 price objective for the company in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.42.
California Resources (NYSE CRC) opened at $18.74 on Monday. California Resources has a 1 year low of $6.47 and a 1 year high of $25.06. The company has a market cap of $803.35, a P/E ratio of -3.75 and a beta of 6.26. The company has a debt-to-equity ratio of -8.78, a quick ratio of 0.53 and a current ratio of 0.61.
COPYRIGHT VIOLATION NOTICE: “Imperial Capital Upgrades California Resources (CRC) to Outperform” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/02/12/california-resources-crc-upgraded-to-outperform-at-imperial-capital.html.
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).
Receive News & Ratings for California Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Resources and related companies with MarketBeat.com's FREE daily email newsletter.