KeyBanc analyst Leo Mariani maintained a Buy rating on California Resources Corp (CRC – Research Report) today and set a price target of $50.00. The company’s shares closed last Wednesday at $43.05, close to its 52-week high of $47.18.
According to TipRanks.com, Mariani is a top 100 analyst with an average return of 31.6% and a 62.2% success rate. Mariani covers the Utilities sector, focusing on stocks such as Whiting Petroleum Corporation, Continental Resources, and Magnolia Oil & Gas.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for California Resources Corp with a $57.00 average price target, a 29.8% upside from current levels. In a report issued on January 10, Bank of America Securities also initiated coverage with a Buy rating on the stock with a $64.00 price target.
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California Resources Corp’s market cap is currently $3.46B and has a P/E ratio of 0.96.
Based on the recent corporate insider activity of 120 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.
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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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