California Resources (NYSE:CRC) Upgraded by Zacks Research to “Hold” Rating

Posted by Francis Steltz on Aug 28th, 2026

California Resources (NYSE:CRC – Get Free Report) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also recently issued reports on CRC. UBS Group cut their target price on California Resources from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Mizuho boosted their price target on California Resources from $86.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Citigroup dropped their price target on California Resources from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Stephens set a $85.00 price objective on shares of California Resources and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, Barclays set a $74.00 price objective on shares of California Resources and gave the company an “overweight” rating in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, California Resources has a consensus rating of “Moderate Buy” and a consensus target price of $72.27.

Get Our Latest Research Report on CRC

California Resources Trading Up 0.9%

Shares of California Resources stock opened at $53.02 on Wednesday. California Resources has a fifty-two week low of $43.24 and a fifty-two week high of $71.98. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.56 and a current ratio of 0.66. The company has a market capitalization of $4.71 billion, a P/E ratio of -38.99 and a beta of 0.93. The company has a fifty day moving average of $52.65 and a 200 day moving average of $58.76.

California Resources (NYSE:CRC – Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The oil and gas producer reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.37). California Resources had a negative net margin of 3.79% and a positive return on equity of 9.82%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $960.20 million. During the same period in the prior year, the business earned $1.10 earnings per share. California Resources’s revenue was up 33.0% compared to the same quarter last year. On average, sell-side analysts anticipate that California Resources will post 3.63 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jay A. Bys sold 11,907 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $54.00, for a total value of $642,978.00. Following the sale, the executive vice president directly owned 147,517 shares in the company, valued at approximately $7,965,918. The trade was a 7.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,721 shares of company stock valued at $2,020,380 over the last quarter. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CRC. Federated Hermes Inc. lifted its position in California Resources by 4.3% during the fourth quarter. Federated Hermes Inc. now owns 4,683 shares of the oil and gas producer’s stock valued at $209,000 after purchasing an additional 195 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of California Resources by 14.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,677 shares of the oil and gas producer’s stock valued at $75,000 after purchasing an additional 214 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of California Resources by 4.4% in the 4th quarter. iA Global Asset Management Inc. now owns 5,440 shares of the oil and gas producer’s stock worth $243,000 after purchasing an additional 230 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of California Resources by 13.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,234 shares of the oil and gas producer’s stock worth $155,000 after purchasing an additional 268 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of California Resources by 8.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,053 shares of the oil and gas producer’s stock valued at $281,000 after purchasing an additional 327 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

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.