California Resources

CRC · NYSE

$54.27−$0.11 (−0.20%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $54.38

CRC analyst rating

BuyConsensus of 9 analysts over the last 12 months. 89% rate it a buy.

Strong buy0
Buy8
Hold1
Underperform0
Sell0

12-month price target · 14 analysts

Average $77.78 (+43.3% upside)

Low: $59.59
Now: $54.27
High: $95.55

Upgrades and downgrades

The latest rating actions, newest first

CRC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
UBS	Oct 12, 2026	Maintains	Buy	$73.00 → $68.00	55%
Stephens & Co.	Sep 18, 2026	Maintains	Overweight	$93.00 → $91.00	49%
Roth Capital	Sep 17, 2026	Maintains	Buy	$58.00 → $59.00	70%
UBS	Sep 14, 2026	Maintains	Buy	$67.00 → $73.00	55%
RBC Capital	Sep 14, 2026	Maintains	Outperform	$77.00	53%
Seaport Global	Sep 3, 2026	Initiates	Neutral	—	67%
Barclays	Aug 17, 2026	Maintains	Overweight	$77.00 → $74.00	53%
UBS	Aug 12, 2026	Maintains	Buy	$70.00 → $67.00	55%
Barclays	Aug 11, 2026	Maintains	Overweight	$80.00 → $77.00	53%
Stephens & Co.	Jul 17, 2026	Maintains	Overweight	$91.00 → $85.00	49%

The case for and against

Updated Oct 18, 2026

Bull case

California Resources is viewed favorably because it combines a high-quality, low-decline conventional asset base with strong exposure to California’s highest-value markets and a growing carbon management platform. The September 1, 2026 Crimson Midstream acquisition adds roughly 2,000 miles of pipelines, improving control, local market access, and long-term stability, while the Golden Valley Tech Hub partnership with Beacon Data Centers expands optionality beyond traditional E&P. Its outlook is further supported by above-guided EBITDA expectations on a $75/bbl WTI and $4.00/Mcf HH framework, plus $15-20/share of incremental value from carbon sequestration, 45 MW solar, and a more de-risked California regulatory backdrop.

Bear case

California Resources is facing a weaker fundamental setup as its NAV/share was reduced to $91 from $93 after the Uinta Basin divestiture, which also cut 2027 production and CFPS estimates to 150 MBoepd and $11.53 from 155 MBoepd and $12.64. The sale of non-core assets for $90MM was disappointing relative to prior assumptions, and the company still depends on constrained California drilling permits to offset a 10–15% base decline rate and maintain flat production. Its carbon management upside is also uncertain because CCS economics hinge on customer buildouts, subsidies, and regulatory approvals, while any oil price weakness would further pressure cash flow.

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