California Resources Corporation Price & Performance (CRC)

California Resources Corporation stock has fallen sharply, recently reaching a 52-week low near $34. Analysts from Citi and Barclays have downgraded the stock and cut price targets, citing weaker oil prices and concerns about high production costs in California. Despite these setbacks, some maintain a moderate buy outlook, reflecting mixed sentiment.123

California Resources reported fourth-quarter earnings below expectations, with EPS at $0.91 and revenue of $877 million. Despite the miss, the company highlighted advances in carbon capture and shareholder returns. The stock’s valuation remains attractive, but ongoing market volatility and sector challenges have tempered analyst enthusiasm for near-term growth.145

Short interest in California Resources fell by over 33% in March, signaling shifting investor sentiment. The company’s fundamentals, including a debt-to-equity ratio of 0.32 and a consensus moderate buy rating, suggest underlying confidence. However, the stock continues to underperform the broader oil and gas sector, reflecting ongoing industry headwinds.675