Best Oil and Energy Stocks to Invest In Now: CRC, NCSM, TDW
Written by Emily J. Thompson, Senior Investment Analyst
Source: NASDAQ.COM
Surge in Oil Prices: Oil and energy stocks are rising as crude prices exceed $60 a barrel, driven by supply constraints, geopolitical tensions, and recovering demand post-pandemic, with OPEC+ limiting supply growth.
Strong Performers: California Resources, NCS Multistage, and Tidewater are highlighted as top oil and energy stocks, showing significant earnings growth and positive revisions in earnings estimates, indicating potential for further upside.
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Analyst Views on CRC
Wall Street analysts forecast CRC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CRC is 65.22 USD with a low forecast of 56.00 USD and a high forecast of 72.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
11 Buy
0 Hold
0 Sell
Strong Buy
Current: 50.880
Low
56.00
Averages
65.22
High
72.00
Current: 50.880
Low
56.00
Averages
65.22
High
72.00
About CRC
California Resources Corporation is an independent energy and carbon management company committed to energy transition. The Company’s segments include Oil and Natural Gas and Carbon Management. Its Carbon Management business, Carbon TerraVault, focuses on building, installing, operating, and maintaining carbon dioxide equipment, transportation assets and storage facilities. The Oil and Natural Gas segment explores for, develops and produces crude oil, oil condensate, natural gas liquids and natural gas. It has operations in oil and gas basins, including San Joaquin Basin, Los Angeles Basin, Sacramento Basin, and other. It has interests in oil and gas fields throughout the San Joaquin basin, including in Elk Hills, Buena Vista, Coles Levee, North Belridge and South Belridge, Kern Front, Lost Hills, Cymric, McKittrick, Midway Sunset and Coalinga. The Los Angeles Basin is a northwest-trending plain about 50 miles long and 20 miles wide. The Company is also focused on Uinta basin.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Sourcerock Increases Stake in California Resources Corporation to 3.18 Million Shares
- Increased Stake: Sourcerock Group raised its stake in California Resources Corporation by 1.18 million shares in Q3, bringing total holdings to 3.18 million shares, with a value increase to $169.14 million, indicating strong confidence in the company.
- Asset Allocation: Following the increase, California Resources now represents 11.5% of Sourcerock's 13F assets, highlighting its significance in the investment portfolio and potentially influencing future investment decisions.
- Cash Flow Performance: In Q3, California Resources generated $279 million in operating cash flow and $188 million in free cash flow, demonstrating financial resilience amid oil price fluctuations, which supports dividend and buyback initiatives.
- Dividend Growth: The company's management raised the quarterly dividend by 5% to $0.405 per share while retiring its 2026 notes, enhancing liquidity and showcasing robust financial management capabilities.
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Kore Advisors Acquires $4 Million Stake in California Resources Corporation
- New Investment Position: Kore Advisors established a new stake in California Resources Corporation by acquiring 75,141 shares worth approximately $4 million during Q3, representing 4.6% of the fund's reportable U.S. equity holdings.
- Portfolio Diversification: This investment increased Kore Advisors' total number of reportable positions to 13, enhancing the diversity within its $87.48 million assets under management.
- Market Performance Analysis: Despite California Resources Corporation's share price of $44.04 reflecting a 14.5% decline over the past year, the company's stable cash flow and dividend growth indicate a degree of resilience in the energy market.
- Financial Health Status: The company generated $279 million in operating cash flow and $188 million in free cash flow in Q3, supporting its strategy for shareholder returns and debt reduction, showcasing its resilience in a volatile market.
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