California Resources (CRC) Rises 6.3%: Is There More Growth Potential for the Stock?
Written by Emily J. Thompson, Senior Investment Analyst
Source: NASDAQ.COM
California Resources Corporation Stock Surge: CRC shares increased by 6.3% to $56.33, driven by a merger with Berry Corporation that promises significant annual synergies and a stronger financial position, enhancing long-term shareholder value.
Earnings Expectations and Stock Performance: Despite a projected quarterly earnings decline of 5.3%, CRC's EPS estimate has been revised 19.3% higher, indicating potential for future stock price appreciation, while W&T Offshore's EPS estimate has decreased significantly.
Analyst Views on WTI
About WTI
W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of America. The Company has working interests in approximately 52 fields in federal and state waters (which include 45 fields in federal waters and seven in state waters). The Company has under lease approximately 646,200 gross acres (502,300 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 493,000 gross acres on the conventional shelf, approximately 147,700 gross acres in the deepwater and 5,500 gross acres in Alabama state waters. The Company’s interests in fields, leases, structures and equipment are primarily owned by its wholly owned subsidiaries and through its proportionately consolidated interest in Monza Energy LLC. The Company's subsidiaries include Aquasition Energy LLC, Aquasition LLC, Aquasition II, LLC, Aquasition III, LLC, Aquasition IV, LLC, Aquasition V, LLC, and others.
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.
