California Resources (NYSE:CRC) Price Target Lowered to $70.00 at Citigroup

Posted by Francis Steltz on Jun 30th, 2026

California Resources (NYSE:CRC – Get Free Report) had its price objective reduced by research analysts at Citigroup from $78.00 to $70.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. Citigroup’s price target points to a potential upside of 32.18% from the company’s previous close.

CRC has been the topic of a number of other research reports. Weiss Ratings lowered California Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Wall Street Zen lowered California Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. UBS Group set a $78.00 price target on California Resources and gave the company a “buy” rating in a report on Monday, May 11th. Barclays upped their price target on shares of California Resources from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, Mizuho increased their price objective on shares of California Resources from $86.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.70.

Get Our Latest Analysis on California Resources

California Resources Price Performance

Shares of NYSE CRC traded up $0.36 during mid-day trading on Tuesday, hitting $52.96. 913,363 shares of the stock were exchanged, compared to its average volume of 920,664. California Resources has a twelve month low of $43.24 and a twelve month high of $71.98. The stock’s fifty day simple moving average is $60.32 and its two-hundred day simple moving average is $57.30. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.47 and a current ratio of 0.55. The company has a market cap of $4.70 billion, a P/E ratio of -10.18 and a beta of 0.91.

California Resources (NYSE:CRC – Get Free Report) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.88 EPS for the quarter, hitting the consensus estimate of $0.88. California Resources had a positive return on equity of 10.12% and a negative net margin of 16.10%.The business had revenue of $119.00 million for the quarter, compared to the consensus estimate of $947.50 million. During the same period in the previous year, the business earned $1.07 EPS. California Resources’s revenue was down 87.0% compared to the same quarter last year. As a group, analysts forecast that California Resources will post 5.56 EPS for the current fiscal year.

Insider Buying and Selling at California Resources

In other news, EVP Jay A. Bys sold 11,907 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $61.68, for a total transaction of $734,423.76. Following the completion of the sale, the executive vice president owned 171,331 shares in the company, valued at $10,567,696.08. The trade was a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.53% of the stock is currently owned by insiders.

Institutional Trading of California Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRC. Rockefeller Capital Management L.P. lifted its position in California Resources by 363.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 561 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 440 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of California Resources during the 4th quarter worth approximately $26,000. Clearstead Advisors LLC grew its position in shares of California Resources by 82.5% during the 3rd quarter. Clearstead Advisors LLC now owns 500 shares of the oil and gas producer’s stock worth $27,000 after buying an additional 226 shares during the period. Pinnacle Holdings LLC acquired a new stake in shares of California Resources during the 4th quarter worth approximately $27,000. Finally, Valued Wealth Advisors LLC bought a new stake in shares of California Resources during the first quarter worth approximately $29,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

California Resources Company Profile

(Get Free Report)

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.