California Resources Corporation (CRC) Company Bio
California Resources Corporation is an independent oil and natural gas exploration and production company, operating properties exclusively within the State of California. The company was founded in 2014 and is based in Bakersfield, California.
CRC Price Forecast Based on DCF Valuation
DCF Fair Value Target:
The table below illustrates the output of a discounted cash flow forecast using a variety of scenarios for California Resources Corp. To summarize, we found that California Resources Corp ranked in the 11th percentile in terms of potential gain offered. We should note, though, that the most conservative analysis suggests this stock will yield negative results -- and thus may be a potential short opportunity. In terms of the factors that were most noteworthy in this DCF analysis for CRC, they are:
The company's balance sheet shows it gets 19% of its capital from equity, and 81% of its capital from debt. Notably, its equity weight is greater than only 16.97% of US equities in the Energy sector yielding a positive free cash flow.
The company's compound free cash flow growth rate over the past 0.69 years comes in at -0.2%; that's greater than merely 8.16% of US stocks we're applying DCF forecasting to.
California Resources Corp's effective tax rate, as measured by taxes paid relative to net income, is at 0 -- greater than merely 0% of US stocks with positive free cash flow.
Terminal Growth Rate in Free Cash Flow
Return Relative to Current Share Price
For other companies in the Energy that have a similar discounted cashflow valuation profile (and ensuing price forecasts) as CRC, try ERF, FPPP, PHX, VTNR, and CLB.
California Resources Corporation (NYSE: CRC) (the "Company") announced today the pricing of its private offering of $600 million in aggregate principal amount of its 7.125% senior unsecured notes due 2026 (the "Notes") at par. The Notes will be guaranteed by all of the Company’s existing subsidiaries that guarantee its revolving credit facility and certain future subsidiaries. The offering is expected to close on January 20, 2021, subject to customary closing conditions.
Moody's Investors Service, ("Moody's") assigned a B2 rating to California Resources Corporation's (CRC) proposed $600 million senior unsecured notes due 2026 and affirmed its existing ratings, including the B1 Corporate Family Rating (CFR), B1-PD Probability of Default Rating (PDR) and B3 rating on its second lien term loan. The SGL-3 Speculative Grade Liquidity Rating is unchanged.
California Resources Corporation (NYSE: CRC) (the "Company") announced today that, subject to market and other conditions, it intends to offer and sell to eligible purchasers $600 million in aggregate principal amount of senior unsecured notes due 2026 (the "Notes"). The Notes will be guaranteed by all of the Company’s existing subsidiaries that guarantee its revolving credit facility and certain future subsidiaries. The Company intends to use the net proceeds from this offering to repay in full its second lien term loan and repay all outstanding senior secured notes due 2027 previously issued by its wholly-owned subsidiary that indirectly owns all of the assets associated with its Elk Hills power plant and gas processing facilities, with the remainder to be used to repay a portion of t...
California Resources (CRC) says President and CEO Todd Stevens will leave the company effective Dec. 31.Executive Chairman Mark McFarland will serve as interim CEO while a search is engaged for a permanent CEO.Stevens held the company's top job since 2014 after coming over from the executive ranks at Occidental Petroleum.California...
California Resources Corporation (NYSE: CRC) (the "Company") announced today that Todd A. Stevens, President and Chief Executive Officer, will be leaving the Company on December 31. Mark A. ("Mac") McFarland, the Company’s Executive Chairman, will serve as interim Chief Executive Officer and James N. Chapman will serve as Lead Independent Director. The Board of Directors will launch a search process for the Company’s next CEO.