8 stories mentioning CRC
Every FINWIRES story that references CRC, newest first.
California Resources Corp (CRC) has an average rating of overweight and mean price target of $76.69, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Michael L. Preston, Executive Vice President, Chief Strategy Officer and General Counsel, on May 12, 2026, sold 26,409 shares in California Resources (CRC) for $1,579,675. Following the Form 4 filing with the SEC, Preston has control over a total of 104,214 common shares of the company, with 104,214 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1609253/000160925326000110/xslF345X05/wk-form4_1778626929.xml
California Resources' (CRC) pivot to slight organic production growth is being driven by improved permitting conditions in California, a constructive oil macro environment, and the depth of its drilling inventory, RBC Capital Markets said Sunday in a report.The company is preparing new well permit applications for 2027, and RBC said it expects a similar trajectory through 2028, supported by an oil outlook that could remain favorable over the next several years.The Carbon TerraVault Elk Hills project is ready pending final regulatory approval to begin carbon-dioxide injection, with a national data center developer already investing in early-stage site readiness, the report said.California Resources' free cash flow may reach $827 million in 2026 and $561 million in 2027, the report said.RBC rates California Resources stock outperform with an $87 price target.Price: $59.51, Change: $+0.59, Percent Change: +0.99%
California Resources (CRC) has an average rating of overweight and mean price target of $79.71, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
California Resources Corporation (CRC) on Tuesday reported a robust start to 2026, delivering first-quarter average net production of 154 thousand barrels of oil equivalent per day.The company's output remained heavily weighted toward liquids, with oil accounting for 81% of total volumes.While the quarter was strong, the company noted that higher crude prices triggered adjustments in its production sharing contracts, resulting in a volume reduction.Despite this technical headwind, CRC is moving to capitalize on the current price environment by significantly increasing its drilling activity for the second half of the year.The producer now targets a 2026 gross production exit rate of approximately 175 MBoe/d, which would represent a 1% entry-to-exit growth rate for the year."With higher oil prices and an attractive drilling return portfolio, we see a clear opportunity to accelerate development across our multi-decade resource inventory. As a result, we are adding incremental drilling activity this year," stated Francisco Leon, CRC's President and Chief Executive Officer.
California Resources (CRC) reported Q1 adjusted net income Tuesday of $0.88 per diluted share, down from $1.07 a year earlier.Analysts polled by FactSet expected $0.88 per share.Total operating revenue for the quarter ended March 31 was $119 million, compared with $912 million a year earlier.Analysts surveyed by FactSet expected $947.5 million.The company said it expects Q2 net production of 148,000 barrels of oil equivalent per day, or 148 MBoe/d, to 150 MBoe/d.Analysts expect 152.9 MBoe/d.For the full-year 2026, the company expects net production of 149 MBoe/d to 155 MBoe/d.Analysts expect 153.6 MBoe/d.
California Resources Corp (CRC) has an average rating of overweight and mean price target of $79.14, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $66.45, Change: $-0.10, Percent Change: -0.15%
RBC Capital Markets has raised its commodity price outlook due to the potentially long-lasting impact of the conflict between the US and Iran.The analysts said the tightening of supply and demand fundamentals has prompted them to raise their 2026-2028 equilibrium price for Brent/WTI by $10 to $80/$75 and Henry Hub natural gas by $0.25 to $4.00 per million cubic feet."This move reflects ongoing collateral damage in the Gulf region and a rising call on barrels globally from an energy security standpoint," RBC's research note said.It added that share buy-back activities were likely to slow given the recent sharp rise in equities valuations, up by more than 50% in the calendar year so far.In terms of trading ideas, RBC highlighted ConocoPhillips (COP) and EOG Resources (EOG) among large players, California Resources (CRC), Permian Resources (PR) and Chord Energy Group (CHRD) among small to medium and Expand Energy Corp (EXE) in gas.RBC said it had raised its EPS-to-cash flow per share estimates by an average 45% to reflect its revised commodity price expectations with oil players in this basket generally up closer to 55%.In keeping with this, price targets have been raised 27% on average, the note said.