Gold prices just lower; monthly gains on track
Investing.com - Mizuho (NYSE:MFG) raised its price target on California Resources (NYSE:CRC) to $64.00 from $61.00 on Thursday, while maintaining an Outperform rating on the stock. According to InvestingPro data, the stock appears undervalued based on its Fair Value analysis, with analysts’ targets ranging from $47 to $68.
The investment firm cited capital efficiencies and various regulatory and legislative pathways to value creation as key factors behind the price target increase.
Mizuho noted that California Resources is focusing on capital discipline, cash flow per share growth, and strategic flexibility across its asset base, with maintenance capital now expected to trend toward the low end of the $500-600 million range.
The company remains fully permitted to run a two-rig program through 2026, according to Mizuho’s analysis, with development pacing guided by relative return thresholds.
California Resources is emphasizing maximization of cash flow per share rather than absolute production growth, which contributed to Mizuho’s decision to raise its NAV-based price target while maintaining its Outperform rating.
In other recent news, California Resources Corporation (CRC) reported its second-quarter 2025 earnings, significantly outperforming analyst expectations. The company achieved an earnings per share (EPS) of $1.10, surpassing the projected $0.90. Additionally, CRC reported revenues of $978 million, exceeding the anticipated $784 million. These results highlight the company’s strong performance during the quarter. The earnings announcement reflects positively on CRC’s financial health and operational efficiency. Analysts had predicted lower figures, but the company’s actual results demonstrated robust growth. This development is likely to influence future analyst assessments and investor perceptions.
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