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. The most interesting components of our discounted cash flow analysis for California Resources Corp ended up being:
The stock's equity weight, or the proportion of capital from equity relative to debt, is 19. Notably, its equity weight is greater than merely 16.49% 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 8.19% of US stocks we're applying DCF forecasting to.
California Resources Corp's interest coverage rate -- a measure of gross earnings relative to interest payments -- comes in at -6.46. This coverage rate is greater than that of only 10.63% of stocks we're observing for the purpose of forecasting via discounted cash flows.
Terminal Growth Rate in Free Cash Flow
Return Relative to Current Share Price
Want more companies with a valuation profile/forecast similar to that of California Resources Corp? See ERF, CLB, FPPP, PHX, and SRLP.
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.
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.
SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) received an A- from CDP for its 2020 climate disclosure, securing a top score at CDP’s Leadership Level. CRC once again received the highest ranking among all U.S. oil and gas companies, tying for first with one other U.S.-based E&P with global operations. Scoring at CDP’s Leadership Level for two years in a row further highlights CRC’s differentiated value as a dedicated and dependable energy producer for
Rating Action: Moody's assigns B1 CFR to California Resources; outlook stable Global Credit Research - 01 Dec 2020 New York, December 01, 2020 -- Moody's Investors Service, (Moody's) assigned ratings to California Resources Corporation (CRC), including a B1 Corporate Family Rating (CFR), a B1-PD Probability of Default Rating (PDR) and a B3 rating to its second lien term loan.
California Resources Corporation (NYSE: CRC), an independent California-based oil and gas exploration and production company, announced that Shawn Kerns, Executive Vice President Operations and Engineering, will be participating in the Cowen 2020 Energy Conference. He will be participating virtually on a panel titled "Carbon Capture Utilization and Storage (CCUS) Opportunities Within Upstream Oil & Gas" at 11:10 a.m. EST on December 4th.