Gold prices set for weekly drop as strong dollar weighs; Trump tariffs in focus
In a challenging market environment, California Resources Corp (NYSE:CRC) stock has touched a 52-week low, dipping to $37.77. According to InvestingPro data, the company maintains a healthy financial position with a "GOOD" overall health score and trades at an attractive P/E ratio of 9x. This latest price level reflects a significant downturn for the energy company, which has seen its value decrease by 35.13% over the past year. Investors are closely monitoring the stock as it navigates through volatile oil prices and operational pressures that have contributed to its recent performance. Despite these challenges, the company maintains a solid dividend yield of 3.82% and has raised its dividend for four consecutive years. The 52-week low serves as a critical point of interest for market watchers and shareholders alike, as they consider the company’s future prospects and the potential for a rebound. InvestingPro analysis suggests the stock is currently undervalued, with analyst price targets ranging from $55 to $80 per share. Unlock 6 additional exclusive ProTips and comprehensive valuation metrics with an InvestingPro subscription.
In other recent news, California Resources Corporation reported its fourth-quarter 2024 earnings, missing both earnings per share (EPS) and revenue forecasts. The company posted an EPS of $0.91, below the expected $0.9898, and revenue of $877 million, short of the anticipated $908.46 million. Barclays (LON:BARC) analyst Betty Jiang adjusted the company’s stock target to $55, citing the company’s solid performance but noting concerns over deferred payments from a joint venture with Brookfield. Meanwhile, Truist Securities maintained a Buy rating with a $75 price target, expressing confidence in California Resources’ operational strategies and potential data center contracts. Despite the earnings miss, California Resources returned approximately 85% of its 2024 free cash flow to shareholders and plans to expand drilling operations in 2025. The company highlighted its ongoing carbon capture and storage initiatives, which are expected to play a significant role in its future growth. Additionally, California Resources anticipates steady production levels as permitting processes normalize in early 2026. These developments come as the company continues to focus on reducing emissions and enhancing its carbon management efforts.
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