Goldman Sachs Group upgraded shares of California Resources (NYSE:CRC) from a sell rating to a neutral rating in a research note released on Thursday, MarketBeat reports. Goldman Sachs Group currently has $27.50 price target on the oil and gas producer’s stock.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut California Resources from a buy rating to a hold rating in a research note on Monday, January 29th. Bank of America upgraded California Resources from a neutral rating to a buy rating in a research note on Tuesday, January 16th. Societe Generale cut California Resources from a buy rating to a hold rating in a research note on Thursday, January 4th. Imperial Capital increased their price target on California Resources from $12.00 to $18.00 and gave the company an in-line rating in a research note on Wednesday, November 8th. Finally, Morgan Stanley upgraded California Resources from an equal weight rating to an overweight rating and set a $12.00 price target for the company in a research note on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. California Resources presently has an average rating of Hold and a consensus price target of $21.50.
Shares of California Resources (NYSE CRC) opened at $20.64 on Thursday. The company has a debt-to-equity ratio of -8.78, a current ratio of 0.61 and a quick ratio of 0.53. California Resources has a 12 month low of $6.47 and a 12 month high of $25.06.
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About California Resources
California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produced approximately 140 thousand barrels of oil equivalent per day (MBoe/d), as of December 31, 2016. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe).
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