Mizuho Reiterates Outperform Rating on California Resources (CRC)

Mizuho analyst Nitin Kumar reiterated an Outperform rating and $64.00 price target on California Resources (NYSE: CRC).

The analyst commented: "This week, we are hosting CEO Francisco Leon and Senior Director of Investor Relations Daniel Juck for investor meetings. CRC is attracting substantial investor interest given its advancements in Carbon Capture and Storage and the potentially integral role it could play in the energy transition in California. With key permits expected soon, the company is poised to become a major player in carbon management in the state (and one of the only public equity vehicles for investors to play this theme). At the same time, CRC remains committed to operational efficiency in its oil and gas business, navigating regulatory challenges while maintaining production stability and generating cash returns for shareholders. The recent Aera transaction has further strengthened the company's position by enhancing both its traditional and CCS capabilities. Looking ahead, CRC is focused on integrating these businesses to drive LT growth and value. Reiterate Outperform."

For an analyst ratings summary and ratings history on California Resources click here. For more ratings news on California Resources click here.

Shares of California Resources closed at $47.84 yesterday.

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