Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is California Resources Corporation (CRC) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.California Resources Corporation is one of 240 companies in the Oils-Energy group. The Oils-Energy group currently sits at #14 within the Zacks Sector Rank. The Zacks Sector ...

I am a 35-year stock market investor, MBA, and retired reporter and editor for the San Francisco Chronicle. My primary style is a mix of growth and income, with attention to special situations.Analyst’s Disclosure:I/we have a beneficial long position in the shares of CRC, EOG, CVX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship ...

I am a 35-year stock market investor, MBA, and retired reporter and editor for the San Francisco Chronicle. My primary style is a mix of growth and income, with attention to special situations.Analyst’s Disclosure:I/we have a beneficial long position in the shares of CRC, EOG, CVX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship ...

TD Cowen analysts expect California Resources’ (NYSE:CRC) acquisition of Berry to lift free cash flow by more than 10% immediately, even before factoring in cost savings from the merger. The company is targeting $80 million to $90 million in synergies within a year of ...

Group 1: Stock Performance - California Resources Corporation (CRC) shares increased by 6.3% to close at $56.33, with a notable trading volume compared to normal sessions, and a total gain of 9.9% over the past four weeks [1][2] Group 2: Merger and Financial Impact - The rise in CRC's stock price is linked to its all-stock merger with Berry Corporation, which is expected to be immediately accretive to key financial metrics and enhance CRC's portfolio [2] - The merger is projected to generate annual synergies of $80-90 million within a year, improve the balance sheet with low leverage, and enhance free cash flow, all contributing to long-term shareholder value [2] Group 3: Earnings Expectations - CRC is anticipated to report quarterly earnings of $1.42 per share, reflecting a year-over-year decline of 5.3%, with revenues expected at $872.27 million, down 35.5% from the previous year [3] - The consensus EPS estimate for CRC has been revised 19.3% higher in the last 30 days, indicating a positive trend that typically correlates with price appreciation [4] Group 4: Industry Context - CRC is classified under the Zacks Oil and Gas - Exploration and Production - United States industry, holding a Zacks Rank of 3 (Hold) [5] - W&T Offshore (WTI), another company in the same industry, saw a 0.6% increase in its stock price, with a consensus EPS estimate revised down by 20.8% to -$0.15 [5][6]

Summary of California Resources Corporation and Berry Corporation Combination Conference Call Company and Industry Overview - **Companies Involved**: California Resources Corporation (CRC) and Berry Corporation - **Industry**: Energy, specifically oil and gas production in California Key Highlights of the Combination - **Transaction Type**: All-stock combination between CRC and Berry Corporation aimed at enhancing scale and operational efficiency [5][6] - **Production Increase**: Berry will add approximately 20,000 barrels of oil per day of California-based Brent-linked conventional production [6] - **Valuation Metrics**: The transaction is valued at approximately 2.9 times 2025 consensus EBITDAX and about $30,000 per flowing barrel [7] - **Cash Flow Accretion**: Expected accretion of more than 10% to second half 2025 operating cash flow and free cash flow before synergies [7] Synergy Expectations - **Targeted Annual Synergies**: Estimated annual synergies of $80 million to $90 million within twelve months, representing approximately 12% of transaction value [8] - **Sources of Synergies**: Expected from corporate synergies, lower interest costs from debt refinancing, operating improvements, and supply chain efficiencies [8] - **Historical Performance**: CRC achieved targeted synergies ahead of schedule in the previous Era merger, indicating strong integration capabilities [8] Legislative Context - **California Legislative Developments**: Recent bills passed to support local production and reduce reliance on foreign oil, including: - SB 237: Allows permits for up to 2,000 new wells annually in Kern County [13] - SB 614: Lifts the moratorium on CO2 pipelines, aiding carbon management initiatives [14] - AB 1207: Extends the state's cap and trade program through 2045 [14] - **Impact on Production**: Legislative changes are expected to stabilize fuel markets and incentivize local production [12][14] Financial and Operational Outlook - **Leverage Ratio**: Pro forma leverage ratio expected to be about 0.8 times, indicating a credit-neutral transaction [11] - **Shareholder Ownership**: CRC shareholders will own 94% of the combined company post-transaction [11] - **Capital Allocation Strategy**: Focus on balanced capital allocation, including share buybacks, dividends, and investments in business growth [28][29] Uinta Basin and Other Assets - **Uinta Basin Potential**: Berry's assets in the Uinta Basin provide additional operational and financial optionality, with opportunities for significant value unlocking [9][10] - **Operational Flexibility**: Berry's portfolio includes 100,000 acres in the Uinta Basin, with a shift towards horizontal well development expected to enhance production [50][51] Conclusion - **Strategic Positioning**: The combination is positioned to create a stronger, more durable energy business in California, enhancing production capabilities and supporting energy security [15][41] - **Future Plans**: Anticipation of increased activity levels and production contributions from local supply, particularly in Kern County [27][44]

Transaction Overview - The transaction value is $717 million[12] - CRC's ownership of the pro forma company is approximately 94%[12] - The estimated closing date is in the first quarter of 2026[12] - Targeted annual synergies are estimated at $80 – 90 million[12] Assets and Financials - Berry's California assets include 20 thousand barrels of oil equivalent per day (MBoe/d) with 100% oil and approximately 20,000 net acres with 94% net revenue interest (NRI)[12] - Berry's assets include 66 MW total power capacity and $2.1 billion in 1P PV-10*[12] - The EV/BRY 2025E Adjusted EBITDAX* multiple is approximately 29x, and the price per flowing barrel is approximately $30K[12] - Pro forma leverage ratio is expected to be less than 10x[12] Synergies and Free Cash Flow - Estimated deal synergies are expected to enhance free cash flow generation[13] - The net present value (NPV) at 10% of cumulative estimated deal synergies over 10 years is approximately $500 million[14] Production and Reserves - The pro forma company is expected to have approximately 20% growth in proved reserves[17] - 2024 Proved SEC Reserves are 652 MMBoe[17]

Group 1 - California Resources is acquiring Berry Corp in an all-stock deal valued at approximately $717 million, including debt [1] - The acquisition reflects California Resources' strategy to expand its portfolio in the oil production sector [1] - The deal signifies a consolidation trend within the U.S. energy industry, particularly among smaller oil producers [1] Group 2 - The transaction highlights the ongoing interest in mergers and acquisitions as companies seek to enhance operational efficiencies and market presence [1] - The valuation of Berry Corp at $717 million indicates a significant investment in the current energy market [1] - This acquisition may lead to potential synergies and cost savings for California Resources, enhancing its competitive position [1]

Core Insights - Guardant Health, Inc. has entered into a strategic agreement with LabFlorida/SunDx Labs to provide access to Guardant Shield, the first FDA-approved blood test for primary screening of colorectal cancer [1] Group 1 - The agreement allows LabFlorida to act as the exclusive distributor of Guardant Shield to senior living communities [1]

Core Viewpoint - Canter Resources Corp. has announced a non-brokered private placement to raise up to $1,050,000 through the issuance of units priced at $0.20 each, aimed at advancing its lithium-boron projects in the U.S. [1][3] Group 1: Private Placement Details - The private placement will consist of up to 5,250,000 units, each unit comprising one common share and one-half of a transferable common share purchase warrant [1] - Each whole warrant will be exercisable to purchase one additional share at a price of $0.26 for two years from issuance [1] - The placement is arranged with strategic investors under 12-month lockup agreements [2] Group 2: Use of Proceeds - The net proceeds from the private placement will be utilized to advance the Columbus Lithium-Boron Project and the Railroad Valley Lithium-Boron Project, evaluate additional projects, and for general working capital [3] Group 3: Company Overview - Canter Resources Corp. is focused on lithium-boron exploration in the U.S., specifically advancing its Columbus and Railroad Valley projects in Nevada [4] - The company is employing a phased drilling approach to test brine targets for lithium-boron enrichment [4] - Canter aims to leverage its critical metals targeting database to develop a portfolio of high-quality projects supporting technology and clean energy supply chains in North America [4]