UBS Group Cuts California Resources (NYSE:CRC) Price Target to $67.00

Posted by Geri Gentry on Aug 15th, 2026

California Resources (NYSE:CRC – Free Report) had its price target lowered by UBS Group from $70.00 to $67.00 in a report issued on Wednesday morning, MarketBeat.com reports. The firm currently has a buy rating on the oil and gas producer’s stock.

A number of other research firms also recently weighed in on CRC. Weiss Ratings downgraded shares of California Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 14th. Barclays reissued an “overweight” rating and issued a $77.00 price objective (down from $80.00) on shares of California Resources in a report on Tuesday. Wall Street Zen cut shares of California Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Stephens set a $85.00 target price on shares of California Resources and gave the stock an “overweight” rating in a report on Friday, July 17th. Finally, Citigroup dropped their price target on shares of California Resources from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.55.

Read Our Latest Stock Analysis on California Resources

California Resources Trading Up 1.1%

CRC opened at $53.31 on Wednesday. The stock has a market capitalization of $4.73 billion, a P/E ratio of -39.20 and a beta of 0.93. The company has a current ratio of 0.66, a quick ratio of 0.47 and a debt-to-equity ratio of 0.38. California Resources has a 12 month low of $43.24 and a 12 month high of $71.98. The firm’s fifty day simple moving average is $53.44 and its 200 day simple moving average is $58.72.

California Resources (NYSE:CRC – Get Free Report) last released its earnings results on Monday, August 10th. The oil and gas producer reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.37). California Resources had a positive return on equity of 9.82% and a negative net margin of 3.79%.The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $960.20 million. During the same quarter last year, the company posted $1.10 EPS. California Resources’s revenue for the quarter was up 33.0% on a year-over-year basis. As a group, research analysts anticipate that California Resources will post 3.53 EPS for the current fiscal year.

California Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 4th. California Resources’s payout ratio is presently -119.12%.

Insider Activity

In other news, EVP Jay A. Bys sold 11,907 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $54.00, for a total value of $642,978.00. Following the completion of the transaction, the executive vice president directly owned 147,517 shares in the company, valued at approximately $7,965,918. This represents a 7.47% decrease in their position. The sale was disclosed in a legal 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 have sold 35,721 shares of company stock worth $2,020,380 in the last three months. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CRC. Valued Wealth Advisors LLC bought a new stake in shares of California Resources in the 1st quarter valued at $29,000. Rockefeller Capital Management L.P. lifted its position in shares of 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 acquiring an additional 440 shares during the period. Steward Partners Investment Advisory LLC bought a new position in California Resources during the fourth quarter worth $26,000. Pinnacle Holdings LLC bought a new position in California Resources during the fourth quarter worth $27,000. Finally, EMC Capital Management acquired a new stake in California Resources in the fourth quarter worth $42,000. Institutional investors own 97.79% of the company’s stock.

About California Resources

(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.