Analyst Rating Update on California Resources Corporation (CRC)

California Resources Corporation (CRC) : 1 brokerage houses believe that California Resources Corporation (CRC) is a Strong Buy at current levels. 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 5 Wall Street Analysts endorse the stock as a Hold with a rating of 2.74.

California Resources Corporation (CRC) : The most positive equity analysts on California Resources Corporation (CRC) expects the shares to touch $25, whereas, the least positive believes that the stock will trade at $19 in the short term. The company is covered by 3 Wall Street Brokerage Firms. The average price target for shares are $21.33 with an expected fluctuation of $3.21 from the mean.

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


California Resources Corporation (NYSE:CRC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.99 and $8.86 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.03. The buying momentum continued till the end and the stock did not give up its gains. It closed at $9.89, notching a gain of 8.32% for the day. The total traded volume was 3,508,751 . The stock had closed at $9.13 on the previous day.

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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