California Resources - CRC Stock Forecast, Price & News

8 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for California Resources in the last year. There are currently 8 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" CRC shares.
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8 analysts have issued 12-month price objectives for California Resources' stock. Their CRC share price forecasts range from $48.00 to $65.00. On average, they anticipate the company's share price to reach $56.86 in the next twelve months. This suggests a possible upside of 49.3% from the stock's current price.
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California Resources' stock was trading at $43.51 at the start of the year. Since then, CRC stock has decreased by 12.5% and is now trading at $38.07.
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California Resources saw a decline in short interest in the month of March. As of March 15th, there was short interest totaling 3,650,000 shares, a decline of 15.9% from the February 28th total of 4,340,000 shares. Based on an average daily volume of 793,900 shares, the short-interest ratio is currently 4.6 days. Currently, 6.0% of the shares of the stock are sold short.
View California Resources' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 4th 2023.
View our CRC earnings forecast.

California Resources Co. (NYSE:CRC) posted its earnings results on Friday, February, 24th. The oil and gas producer reported $1.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.77 by $0.53. The oil and gas producer earned $682 million during the quarter, compared to analysts' expectations of $639.65 million. California Resources had a net margin of 19.36% and a trailing twelve-month return on equity of 23.03%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.13 earnings per share.

California Resources announced a quarterly dividend on Friday, February 24th. Stockholders of record on Monday, March 6th will be given a dividend of $0.2825 per share on Thursday, March 16th. This represents a $1.13 annualized dividend and a yield of 2.97%. The ex-dividend date is Friday, March 3rd. This is an increase from the stock's previous quarterly dividend of $0.28.
Read our dividend analysis for CRC.

ETFs with the largest weight of California Resources (NYSE:CRC) stock in their portfolio include Invesco Dynamic Energy Exploration & Production ETF (PXE), SPDR S&P Oil & Gas Exploration & Production ETF (XOP), Cambria Value and Momentum ETF (VAMO), First Trust SMID Cap Rising Dividend Archievers ETF (SDVY), Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (GUSH), Cambria Shareholder Yield ETF (SYLD), Invesco Zacks Multi-Asset Income ETF (CVY) and First Trust Mid Cap Value AlphaDEX Fund (FNK).

California Resources (NYSE:CRC) pays an annual dividend of $1.13 per share and currently has a dividend yield of 3.05%. The company has been increasing its dividend for 2 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 16.45%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, CRC will have a dividend payout ratio of 13.88% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for CRC.

Shares of California Resources reverse split before market open on Wednesday, June 1st 2016. The 1-10 reverse split was announced on Monday, May 9th 2016. The number of shares owned by shareholders was adjusted after the market closes on Tuesday, May 31st 2016. An investor that had 100 shares of stock prior to the reverse split would have 10 shares after the split.

Based on aggregate information from My MarketBeat watchlists, some companies that other California Resources investors own include Macrocure Ltd. - Ordinary Share (MCUR), LinnCo (LNCOQ), Adverum Biotechnologies (ADVM), Occidental Petroleum (OXY), (GBSN) (GBSN), Bank of America (BAC), Northern Trust (NTRS), (BBEPQ) (BBEPQ), Oasis Petroleum (OAS) and Whiting Petroleum (WLL).

California Resources trades on the New York Stock Exchange (NYSE) under the ticker symbol "CRC."

California Resources' stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Goldentree Asset Management LP (5.83%), Encompass Capital Advisors LLC (2.98%), Dimensional Fund Advisors LP (1.97%), Geode Capital Management LLC (1.84%), Principal Financial Group Inc. (1.70%) and Private Management Group Inc. (1.07%). Insiders that own company stock include Ares Management Llc, Bo Kruse, Bob D Brown, Burt W Podbere, Goldentree Asset Management Lp, Guy Carling, Suku Krishnaraj Chettiar, Tiffany Thom Cepak, Todd A Stevens and William B Roby.
View institutional ownership trends.

Shares of CRC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CRC stock can currently be purchased for approximately $38.07.

California Resources (NYSE:CRC) has a market capitalization of $2.71 billion and generates $2.71 billion in revenue each year. The oil and gas producer earns $524 million in net income (profit) each year or $6.87 on an earnings per share basis.

The company employs 1,060 workers across the globe.

California Resources' mailing address is 27200 TOURNEY ROAD SUITE 200, SANTA CLARITA CA, 91355. The official website for the company is www.crc.com. The oil and gas producer can be reached via phone at 888-848-4754 or via email at scott.espenshade@crc.com.