CRC

California Resources Corporation - Ordinary Shares - New

Energy


Presented:07/13/2023
Price:$47.09
Cap:$3.32B
Current Price:$51.03
Cap:$4.57B

Presented

Date07/13/2023
Price$47.09
Market Cap$3.32B
Ent Value$3.01B
P/E Ratio3.57x
Book Value$29.65
Div Yield2.16%
Shares O/S70.55M
Ave Daily Vol1,065,989
Short Int8.89%

Current

Price$51.03
Market Cap$4.57B
California Resources Corp. is an independent oil and natural gas company committed to energy transition in the sector. The firm has some of the lowest carbon intensity production in the U.S. It focuses on increasing the value of land, mineral and technical resources for decarbonization by developing carbon capture and storage and other emissions reducing projects. The company was founded on April 23, 2014 and is headquartered in Long Beach, CA.

Publicly traded companies mentioned herein: California Resources Corporation (CRC)

Highlights

The presenter is long shares of California Resource Corporation (CRC) partially due to the company’s position in California, which has high barriers to entry and the potential for consolidation. He believes the company is in a better position today after the new management has focused on profitability and has an opportunity to become the largest carbon storage player in the US. Using a sum-of-the-parts analysis the presenter sees a path to $70-$75 per share with little downside given the company’s assets and current profitability.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Request access to DeMatteo Research for full access

Request Access

Already have an account?

Idea Discussion

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Idea Discussions display submitted commentary from our investor community.

To read and participate in the discussion with the presenter and investor base, request access to DeMatteo

Request Access

Already have an account?

An error occurred loading this content. Try again later or contact us.