California Resources Corporation - Underappreciated Deleveraging Tools May Prove Markets Wrong (Again) [Seeking Alpha]
California Resources Corporation (CRC)
NASDAQ:AMEX Investor Relations:
crc.com/investor-relations
Company Research
Source: Seeking Alpha
California Resources Corporation - Underappreciated Deleveraging Tools May Prove Markets Wrong (Again) Large and Diverse Set of Deleveraging Options May Prove Capital Markets Wrong Again The last time CRC traded near its current cash flow multiples, its unsecured bonds and stock price proceeded rallied 7x (with coupons) and 16x Leverage and refinancing risk have resurfaced. These concerns, in my opinion, have been the primary driving force in CRC’s stock price decline of ~70% from last year’s peak. However, similar to 2016, the market is severely underestimating a plethora of tools, principally a royalty sale, that CRC’s high quality management team can utilize to manage its debt load, even among oil price volatility. With CRC trading at $12bn in discounted asset value (see chart from Barclays below, using lowest $55/bbl scenario). Its asset base is comprised of a diverse base of E&P assets, midstream infrastructure and real estate. This compares favorably to a net debt load of only $
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CRC
News
- California Resources Co. (NYSE: CRC) is now covered by analysts at JPMorgan Chase & Co.. They set a "neutral" rating and a $63.00 price target on the stock.MarketBeat
- California Resources Corporation Announces January Investor Conference Participation [Yahoo! Finance]Yahoo! Finance
- California Resources Corporation Announces January Investor Conference ParticipationGlobeNewswire
- California Resources Co. (NYSE: CRC) was upgraded by analysts at Capital One Financial Co. to a "strong-buy" rating.MarketBeat
- California Resources and Net Power link for low-carbon power solutions [Yahoo! Finance]Yahoo! Finance
CRC
Earnings
- 11/5/24 - Beat
CRC
Sec Filings
- 12/13/24 - Form 4
- 12/13/24 - Form 4
- 12/12/24 - Form 144
- CRC's page on the SEC website