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News For CRC From the Last 2 Days
CRC
Mar 26, 2024 | 09:38 EDT
RBC Capital analyst Scott Hanold notes that California Resources indicated in a regulatory filing that the waiting period under the HSR Act related to the company's Aera transaction has expired, meaning there is no second request by the FTC. The firm, which thinks this accelerates the timeline in which they can close the merger with Aera Energy, now thinks the deal could close as soon as this summer. The firm, which adds that the combination more than doubles its free cash flow per share estimate and boosts free cash flow yield to 10%-plus at strip commodity prices, has an Outperform rating and $65 price target on California Resources shares.