California Resources Corp (CRC)

In the past six months, California Resources Corp. (CRC) stock price has been impacted by several events, including the completion of an all-stock combination with Berry Corporation on December 18, 2025, the signing of a decarbonized power Memorandum of Understanding (MOU) with Middle River Power on December 16, 2025, and expanded investor outreach through January 2026 conferences. In November 2025, CRC supported food security efforts with a $200,000 donation and achieved MiQ 'Grade A' certification for its Ventura Basin assets on November 18, 2025. On November 4, 2025, CRC reported its third-quarter 2025 financial and operating results and announced a raised quarterly dividend by 5% and early redemption of all remaining 2026 Senior Notes. Analyst ratings have also influenced the stock, with Pickering Energy Partners downgrading California Resources from an "outperform" rating to a "neutral" rating in January 2026, and Zacks Research lowering shares from a "hold" to a "strong sell" rating on January 1, 2026. The company generally holds a "Moderate Buy" consensus rating from analysts, with an average target price of $64.30, representing a potential upside of approximately 39.7% from its price of $46.02 as of January 12, 2026. The stock price as of January 7, 2026, was $44.78 per share, a decline of 14.92% from $52.63 on January 8, 2025.

Demand for California Resources Corporation's primary products, crude oil and natural gas, exhibits seasonality. Natural gas consumption typically spikes in the winter due to increased residential and commercial heating needs. Warmer weather can increase demand for natural gas used in electricity generation for air conditioning. These seasonal trends influence both overall natural gas demand and the requirements for pipelines and storage. For crude oil, gas prices generally tend to rise in the spring and fall in the winter, reflecting seasonal demand fluctuations. The industrial and petroleum extraction sectors, however, show less seasonal variation in natural gas demand.

California Resources Corporation (CRC) is an independent energy and carbon management company focused on the exploration, development, and production of crude oil, natural gas, and natural gas liquids (NGLs) exclusively within California, with a growing carbon capture and storage (CCS) business. CRC operates in the Energy sector, specifically in the Oil & Gas Exploration & Production industry, and its major products include crude oil, oil condensate, natural gas liquids, and natural gas, which are sold to California refineries, marketers, and other purchasers. Additionally, CRC provides Carbon TerraVault services, which involve building, installing, operating, and maintaining CO2 capture equipment, transportation assets, and storage facilities, and owns and operates power generation facilities, including gas-fired power plants, to support its operations and supply California's electrical grid.

California Resources Corporation's operations are concentrated entirely within the state of California, leveraging its extensive in-state mineral acreage and infrastructure. The company manages approximately 1.9 million net mineral acres across three major California basins: the San Joaquin Basin, Los Angeles Basin, Ventura Basin, and also has dry gas production in the Sacramento Basin. Key operational areas include the Elk Hills Oil Field, located west of Bakersfield in the San Joaquin Valley, which is also the proposed home of the CTV Clean Energy Park and the flagship Carbon TerraVault I (CTV I) CCS project. CRC also operates the Wilmington Oil Field in partnership with California, several smaller fields in Los Angeles County, and the Huntington Beach Oil Field in Orange County. The San Joaquin Basin accounts for approximately 81% of CRC's estimated proved reserves as of year-end 2024.

California Resources Corporation has actively worked to build a positive brand reputation, particularly in the area of environmental stewardship and energy transition. The company has received 'Grade A' certifications through MiQ's Methane Emissions Performance Standard for its production segment operating assets in Ventura County (November 2025) and its Los Angeles Basin assets (2024), positioning it as a leader in low-carbon intensity production in California and the Rocky Mountain Region. CRC's Carbon TerraVault initiative, focused on carbon capture and storage projects, further enhances its reputation as a company committed to decarbonization. Partnerships, such as the "Football Without the Footprint" initiative with the Los Angeles Rams to offset the team's energy and travel emissions, also contribute to a positive public image. The company also engages in community support, as evidenced by a $200,000 donation to food security efforts in November 2025.

California Resources Corporation (CRC) is largely controlled by institutional investors, who collectively hold approximately 75.69% of the outstanding shares. Major institutional owners include BlackRock, Inc., Canada Pension Plan Investment Board, and Vanguard Group Inc. Other significant institutional shareholders include Gimbel Daniel Scott, iShares Core S&P Small-Cap ETF, Dimensional Fund Advisors Lp, State Street Corp, Sourcerock Group LLC, and American Century Companies Inc. Individual investors and public companies hold a smaller portion of the stock.