Fintel reports that on December 20, 2024, JP Morgan initiated coverage of California Resources (NYSE:CRC) with a Neutral recommendation.
Analyst Price Forecast Suggests 35.25% Upside
As of December 3, 2024, the average one-year price target for California Resources is $68.95/share. The forecasts range from a low of $57.57 to a high of $77.70. The average price target represents an increase of 35.25% from its latest reported closing price of $50.98 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for California Resources is 2,658MM, an increase of 2.55%. The projected annual non-GAAP EPS is 8.01.
What is the Fund Sentiment?
There are 669 funds or institutions reporting positions in California Resources. This is an decrease of 34 owner(s) or 4.84% in the last quarter. Average portfolio weight of all funds dedicated to CRC is 0.30%, an increase of 7.26%. Total shares owned by institutions increased in the last three months by 23.25% to 109,044K shares. 
The put/call ratio of CRC is 0.95, indicating a bullish outlook.
What are Other Shareholders Doing?
Canada Pension Plan Investment Board holds 10,507K shares representing 11.46% ownership of the company. In its prior filing, the firm reported owning 0K shares , representing an increase of 100.00%.
Gimbel Daniel Scott holds 6,247K shares representing 6.81% ownership of the company. No change in the last quarter.
First Trust Advisors holds 5,973K shares representing 6.51% ownership of the company. In its prior filing, the firm reported owning 5,639K shares , representing an increase of 5.59%. The firm decreased its portfolio allocation in CRC by 2.55% over the last quarter.
RDVY - First Trust Rising Dividend Achievers ETF holds 4,523K shares representing 4.93% ownership of the company. In its prior filing, the firm reported owning 4,400K shares , representing an increase of 2.71%. The firm decreased its portfolio allocation in CRC by 10.25% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 4,421K shares representing 4.82% ownership of the company. In its prior filing, the firm reported owning 4,163K shares , representing an increase of 5.84%. The firm decreased its portfolio allocation in CRC by 6.03% over the last quarter.
California Resources Background Information
(This description is provided by the company.)
alifornia Resources Corporation is the largest oil and natural gas exploration and production company in California. The Company operates exclusively within the State of California, applying complementary and integrated infrastructure to gather, process and market its production. Using advanced technology, the Company focuses on safely and responsibly supplying affordable energy for California by Californians.
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