California Resources Corp (CRC)

California Resources Corp. stock has gained 27.15% in the last six months and 32.20% year-to-date. In December 2025, CRC completed an all-stock combination with Berry Corporation. In February 2026, CRC achieved 'Grade A' certification from MiQ for its San Joaquin Valley Basin assets and increased its Share Repurchase Program to $1.78 billion, extending it through December 31, 2027. In March 2026, CRC reported 25% year-over-year production growth and the highest annual free cash flow since 2021, announced a private offering of $350 million of Senior Unsecured Notes, and increased the quarterly cash dividend by 5%. In April 2026, California Resources amended its credit facility to cut borrowing costs. In May 2026, CRC reported a GAAP net loss of $711 million due to a non-cash commodity derivative loss but raised its 2026 adjusted EBITDAX guidance midpoint by 42% and expanded the capital budget, also declaring a $0.405 quarterly dividend.

The demand for California Resources Corporation's products generally follows broader market trends for crude oil, natural gas, and natural gas liquids. Demand can be influenced by global economic activity, industrial output, transportation needs, and seasonal weather patterns. The company's focus on local production in California aims to replace imported energy.

California Resources Corporation operates in the Energy sector, focusing on Oil & Gas Exploration and Production. The company is organized into oil and natural gas, and carbon management segments. CRC explores for, produces, gathers, processes, and markets crude oil, natural gas, and natural gas liquids. A key strategy involves maximizing land value for decarbonization through carbon capture and storage and other emissions-reducing projects, including Carbon TerraVault.

CRC's operations are exclusively within California, holding the largest privately held mineral acreage in the state. It operates across the San Joaquin, Ventura, Los Angeles, and Sacramento Basins, with approximately 81% of proved reserves in the San Joaquin Basin as of year-end 2024. Key fields include Elk Hills, Wilmington, Midway-Sunset, South Belridge, and McKittrick. In July 2024, CRC merged with Aera Energy LLC, adding fields in Fresno, Monterey, and Ventura counties.

California Resources Corporation emphasizes environmental stewardship and sustainability. It received a "Grade A" certification from MiQ for its operating assets in Los Angeles and Orange Counties, demonstrating transparent methane emissions management. CRC also received 22 National Safety Council awards for its 2023 performance, highlighting a strong safety record. The company focuses on low carbon intensity energy production, invests in carbon capture and storage projects, and engages in community development, including supplying reclaimed water for agricultural water districts.

California Resources Corporation stock is primarily owned by institutional investors, including BlackRock, Inc., Canada Pension Plan Investment Board, Vanguard Group Inc, Dimensional Fund Advisors Lp, State Street Corp, American Century Companies Inc, and Victory Capital Management Inc. Pension Plan Investment Board Canada is a significant individual shareholder, owning 7.91% of the company. Insiders hold approximately 0.53% of the stock.