Strs Ohio Increases Stake in California Resources Corporation $CRC

Key Points

• Strs Ohio boosted its stake in California Resources by 750%, adding 20,999 shares to hold 23,799 shares valued at $1.064M, while institutional investors now own about 97.79% of the stock.
• Q1 results showed EPS of $0.88 in line with expectations but revenue plunged ~87% to $119M, triggering a roughly 12.1% drop in the stock and raising near‑term cash‑flow concerns.
• Management raised 2026 adjusted‑EBITDAX guidance by about 42% and will accelerate second‑half activity, and the board declared a quarterly dividend of $0.405 per share (annualized yield ~2.6%).

Strs Ohio boosted its position in California Resources Corporation (NYSE:CRC - Free Report) by 750.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 23,799 shares of the oil and gas producer's stock after acquiring an additional 20,999 shares during the period. Strs Ohio's holdings in California Resources were worth $1,064,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of California Resources by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 8,775,097 shares of the oil and gas producer's stock valued at $392,335,000 after purchasing an additional 529,814 shares during the period. Dimensional Fund Advisors LP boosted its holdings in California Resources by 15.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,549,636 shares of the oil and gas producer's stock worth $188,776,000 after buying an additional 474,521 shares during the period. American Century Companies Inc. grew its stake in California Resources by 5.6% in the 3rd quarter. American Century Companies Inc. now owns 3,006,430 shares of the oil and gas producer's stock valued at $159,882,000 after buying an additional 159,708 shares in the last quarter. Sourcerock Group LLC raised its holdings in California Resources by 63.8% during the 2nd quarter. Sourcerock Group LLC now owns 2,000,649 shares of the oil and gas producer's stock valued at $91,370,000 after acquiring an additional 779,280 shares during the period. Finally, UBS Group AG lifted its position in shares of California Resources by 51.5% during the fourth quarter. UBS Group AG now owns 1,471,090 shares of the oil and gas producer's stock worth $65,772,000 after acquiring an additional 499,845 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other California Resources news, COO Omar Hayat sold 23,000 shares of California Resources stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $65.87, for a total transaction of $1,515,010.00. Following the completion of the sale, the chief operating officer directly owned 82,236 shares in the company, valued at $5,416,885.32. The trade was a 21.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christopher D. Gould sold 24,347 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $62.21, for a total transaction of $1,514,626.87. Following the completion of the transaction, the executive vice president directly owned 131,537 shares of the company's stock, valued at approximately $8,182,916.77. This represents a 15.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 72,283 shares of company stock worth $4,636,646 over the last three months. Company insiders own 0.53% of the company's stock.

More California Resources News

Here are the key news stories impacting California Resources this week:

• Positive Sentiment: Company raised 2026 adjusted-EBITDAX guidance by ~42% and will increase second-half activity to accelerate development of its long‑duration oil inventory — management cited strong oil prices, synergy targets and operating efficiencies as drivers. Read More.
• Positive Sentiment: Company highlighted strategic progress and received shareholder approvals that support its strategy execution (corporate actions referenced by management). Read More.
• Positive Sentiment: Board declared a quarterly dividend of $0.405 per share (annualized yield ~2.6%), with an ex‑dividend date of May 29 — supports income-focused holders and signals cash-return priority.
• Neutral Sentiment: Q1 GAAP/adjusted EPS printed $0.88 — roughly in line with consensus (Zacks noted a slight beat vs its $0.83 estimate) but below last year’s $1.07; the EPS print reduced surprise risk but didn’t resolve questions about revenue drivers. Read More.
• Neutral Sentiment: Carbon TerraVault (CRC’s carbon-management subsidiary) issued a Q1 update — progress on the carbon-management side could diversify long-term value but is still early-stage. Read More.
• Negative Sentiment: Revenue collapsed to $119M (down ~87% YoY) and was far below the consensus revenue figure cited in filings — this large top-line decline is a key reason investors reacted negatively despite mixed operating/guidance messages. Read More.
• Negative Sentiment: High intraday volume and the disparity between improved mid‑year guidance and the sharp quarterly revenue drop created uncertainty about the company’s near‑term cash flow profile and the sustainability of reported EPS levels — investors are seeking clarity from the earnings call transcript and slides. Read More.

Analyst Ratings Changes

A number of equities analysts have recently commented on CRC shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of California Resources in a report on Wednesday, January 21st. Wells Fargo & Company increased their price objective on California Resources from $72.00 to $76.00 and gave the stock an "overweight" rating in a report on Tuesday, March 17th. Wall Street Zen upgraded California Resources from a "sell" rating to a "hold" rating in a research note on Monday, April 6th. TD Cowen raised California Resources to a "strong-buy" rating in a report on Monday, February 9th. Finally, Barclays upped their price target on California Resources from $67.00 to $72.00 and gave the company an "overweight" rating in a research report on Monday, March 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, California Resources currently has an average rating of "Moderate Buy" and a consensus price target of $71.20.

California Resources Trading Down 12.1%

California Resources stock opened at $61.64 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 0.89. California Resources Corporation has a fifty-two week low of $35.93 and a fifty-two week high of $71.98. The stock has a market cap of $5.47 billion, a P/E ratio of -11.85 and a beta of 0.96. The firm's fifty day moving average price is $64.55 and its 200-day moving average price is $54.23.

California Resources (NYSE:CRC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.88. California Resources had a positive return on equity of 9.69% and a negative net margin of 16.10%.The company had revenue of $119.00 million during the quarter, compared to analyst estimates of $947.50 million. During the same quarter last year, the company earned $1.07 earnings per share. The firm's quarterly revenue was down 87.0% on a year-over-year basis. Equities research analysts forecast that California Resources Corporation will post 5.03 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, May 29th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, May 29th. California Resources's dividend payout ratio (DPR) is 39.71%.

About California Resources

California Resources Corporation NYSE: CRC is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC's operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.

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