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Analysts Offer Insights on Energy Companies: Ovintiv (OVV) and California Resources Corp (CRC)

Tipranks - Tipranks - Fri Mar 27, 7:44AM CDT

There’s a lot to be optimistic about in the Energy sector as 2 analysts just weighed in on Ovintiv (OVV) and California Resources Corp (CRC) with bullish sentiments.

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Ovintiv (OVV)

In a report released yesterday, Arun Jayaram from J.P. Morgan maintained a Buy rating on Ovintiv, with a price target of $68.00. The company’s shares closed last Wednesday at $60.14.

According to TipRanks.com, Jayaram is a 5-star analyst with an average return of 14.6% and a 63.3% success rate. Jayaram covers the NA sector, focusing on stocks such as Crescent Energy Company Class A, Flowco Holdings Inc Class A, and Occidental Petroleum. ;'>

Currently, the analyst consensus on Ovintiv is a Strong Buy with an average price target of $59.17, representing a 1.9% upside. In a report issued on March 23, Truist Financial also initiated coverage with a Buy rating on the stock with a $70.00 price target.

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California Resources Corp (CRC)

J.P. Morgan analyst Zach Parham maintained a Buy rating on California Resources Corp yesterday and set a price target of $86.00. The company’s shares closed last Wednesday at $66.96.

According to TipRanks.com, Parham is a 5-star analyst with an average return of 10.2% and a 65.6% success rate. Parham covers the NA sector, focusing on stocks such as National Fuel Gas Company, HF Sinclair Corporation, and Par Pacific Holdings. ;'>

California Resources Corp has an analyst consensus of Strong Buy, with a price target consensus of $75.27, a 17.0% upside from current levels. In a report issued on March 12, RBC Capital also maintained a Buy rating on the stock with a $70.00 price target.

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