Added to YB: 2024-07-25
Pitch date: 2024-07-24
CRC [bullish]
California Resources Corporation
+7.13%
current return
Author Info
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Company Info
California Resources Corporation operates as an independent energy and carbon management company in the United States.
Market Cap
$4.7B
Pitch Price
$46.97
Price Target
N/A
Dividend
3.06%
EV/EBITDA
11.16
P/E
-9.87
EV/Sales
1.74
Sector
Oil, Gas and Consumable Fuels
Category
value
Show full summary:
Ménage à trois with oil in California with the California Resources Corporation $CRC.
CRC: CA-based oil/gas producer, 79% oil. P/E 5, 10% decline rate. Aera acquisition doubled reserves to 605 MMboe, production to 140k boe/d. $150M synergies expected. Permitting issues limit drilling. $675M buyback program. $10.40 EPS est. Carbon capture JV potential $250M EBITDA by 2028. Sell when drilling resumes, buybacks end.
Read full article (5 min)