Fintel reports that on October 16, 2024, UBS initiated coverage of California Resources (NYSE:CRC) with a Buy recommendation.
Analyst Price Forecast Suggests 22.39% Upside
As of September 25, 2024, the average one-year price target for California Resources is $63.53/share. The forecasts range from a low of $55.55 to a high of $68.25. The average price target represents an increase of 22.39% from its latest reported closing price of $51.91 / share.
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The projected annual revenue for California Resources is 2,658MM, an increase of 17.66%. The projected annual non-GAAP EPS is 8.01.
What is the Fund Sentiment?
There are 700 funds or institutions reporting positions in California Resources. This is an decrease of 12 owner(s) or 1.69% in the last quarter. Average portfolio weight of all funds dedicated to CRC is 0.32%, an increase of 1.76%. Total shares owned by institutions increased in the last three months by 0.27% to 88,943K shares. 
The put/call ratio of CRC is 1.33, indicating a bearish outlook.
What are Other Shareholders Doing?
Gimbel Daniel Scott holds 6,247K shares representing 7.00% ownership of the company. No change in the last quarter.
First Trust Advisors holds 5,639K shares representing 6.32% ownership of the company. In its prior filing, the firm reported owning 4,565K shares , representing an increase of 19.04%. The firm increased its portfolio allocation in CRC by 19.70% over the last quarter.
RDVY - First Trust Rising Dividend Achievers ETF holds 4,400K shares representing 4.93% ownership of the company. In its prior filing, the firm reported owning 3,727K shares , representing an increase of 15.30%. The firm increased its portfolio allocation in CRC by 11.48% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 4,163K shares representing 4.67% ownership of the company. In its prior filing, the firm reported owning 4,362K shares , representing a decrease of 4.78%. The firm decreased its portfolio allocation in CRC by 4.26% over the last quarter.
CALF - Pacer US Small Cap Cash Cows 100 ETF holds 3,561K shares representing 3.99% ownership of the company. In its prior filing, the firm reported owning 2,307K shares , representing an increase of 35.22%. The firm increased its portfolio allocation in CRC by 39.96% 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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