California Resources Aims for Flat Volumes With 50% Less Capital Expenditures in 2019
We are raising our fair value estimate to $19 per share after the digesting California Resources' fourth-quarter financial and operating results. The firm is back on defense after the recent slide in commodity prices and is targeting internally funded capital expenditures of $300 million-$385 million in 2019 (about 50% below last year’s budget). But management is confident that it can keep volumes flat despite this steep cut, due to the low decline rates associated with the firm’s conventional a...California Resources is an independent oil and natural gas exploration and production company operating properties within California.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.