California green-lights oil company acquisition of struggling pipeline system
The California Public Utilities Commission has approved California Resources Corporation's acquisition of the San Pablo Bay Pipeline and Crimson California Pipeline companies. This acquisition is significant as the San Pablo Bay Pipeline has been idle, causing concern among the state's oil industry leaders. The move aims to revive a critical oil transportation system connecting oil fields to refineries in California.
California Resources Corp (CRC) EVP sells 11,907 shares under 10b5-1 plan
California Resources Corp's EVP & Chief Commercial Officer, Jay A. Bys, sold 11,907 shares of common stock at $54.00 per share on August 10, 2026. This transaction was executed automatically under a pre-arranged Rule 10b5-1 trading plan adopted on March 5, 2026. Following the sale, Bys directly holds 147,517 shares of the company.
Y Intercept Hong Kong Ltd Takes Position in California Resources Corporation $CRC
Y Intercept Hong Kong Ltd has acquired 76,082 shares of California Resources Corporation (CRC) for approximately $4.02 million, representing a 0.09% stake. This move comes as California Resources reports strong revenue growth but misses EPS estimates and plans to expand its midstream operations with a $63 million acquisition. Analysts currently maintain a "Moderate Buy" rating for CRC with an average price target of $72.55.
California Resources Corporation purchases major oil pipeline
California Resources Corporation (CRC) has acquired approximately 2,000 miles of pipeline infrastructure from CorEnergy Infrastructure Trust, Inc. for $63 million. This purchase, expected to close in Q3, will reopen a pipeline between Kern County and the Bay Area, allowing CRC to transfer about 400,000 barrels of oil per day. The move strengthens CRC's position as a leading integrated infrastructure energy platform in California and enhances its ability to deliver oil to high-value markets.
California Resources Corp Earnings Call Highlights Efficiency
California Resources Corp (CRC) recently held its Q2 earnings call, striking an optimistic tone with highlights on strong operational execution, faster-than-expected cost synergies, and growing momentum in midstream and carbon projects. Despite temporary takeaway constraints and weaker near-term price realizations impacting quarterly results, management emphasized improving cash flow, a stronger balance sheet, and long-term growth initiatives. The company reported robust production, solid financial performance, and significant progress in synergy capture and structural cost savings, while also advancing midstream expansion and carbon management projects.
California Resources Corporation Reports Second Quarter 2026 Financial and Operating Results
California Resources Corporation (CRC) announced its second-quarter 2026 financial and operating results, highlighting a net income of $514 million and adjusted EBITDAX of $338 million. The company strengthened its energy platform through the acquisition of Crimson Midstream Holdings, LLC for $63 million and reduced its long-term maintenance capital outlook. CRC also initiated the Golden Valley Technology Hub project and achieved CO2 injection and revenue at its Carbon TerraVault I project, reinforcing its commitment to California's energy transition.
California is burying carbon in an oil field before its rules are finished
California's first commercial carbon storage project at Elk Hills has begun operating, injecting carbon dioxide underground, despite the state not having finalized its required regulatory rules. This project, led by California Resources Corp. (CRC), could receive billions in public incentives, but raises concerns among environmentalists and experts about responsibility if something goes wrong, particularly given the historical drilling in the oil field and the lack of comprehensive state oversight. The state's Air Resources Board attributes the delay in rule-making to staffing issues, while critics argue the current framework relies too heavily on companies policing themselves and doesn't adequately address potential risks or verify monitoring efforts.
California Resources Corporation (NYSE:CRC) Receives Consensus Recommendation of "Moderate Buy" from Brokerages
Brokerages have given California Resources Corporation (NYSE:CRC) a "Moderate Buy" consensus recommendation, with an average 12-month price target of $73.09. Despite a Q2 revenue surge of 33% year-over-year, the company missed adjusted EPS estimates. California Resources is expanding its infrastructure through an acquisition, reaffirmed its 2026 capital guidance, and declared a quarterly dividend.
As Carbon Capture Gains Momentum, New Report Raises Consumer Concerns
A new report by Consumer Watchdog criticizes California's push for Carbon Capture and Storage (CCS) programs, calling them a "multi-billion-dollar boondoggle" that benefits oil producers like California Resources Corporation (CRC) at public and environmental expense. The report argues that CCS overpromises on carbon reduction, is reliant on federal tax credits, and deflects from the more effective strategy of transitioning to renewables and improving energy efficiency. It highlights concerns about the safety of CO2 pipelines and the potential for CCS to encourage continued fossil fuel reliance rather than true decarbonization.
Earnings Flash (CRC) California Resources Corporation Posts Q2 Adjusted EPS $0.99 per Share, Vs. FactSet Est of $1.36
California Resources Corporation (CRC) reported its Q2 adjusted EPS of $0.99 per share, which fell short of FactSet's estimate of $1.36 per share. This financial update provides key performance indicators for the company during the second quarter.
California Resources Corporation Expands Integrated California Energy Infrastructure Platform Through Strategic Midstream Acquisition
California Resources Corporation (CRC) has announced an agreement to acquire Crimson Midstream Holdings, LLC for $63 million, aiming to strengthen its integrated California energy infrastructure platform. This acquisition includes approximately 2,000 miles of pipeline infrastructure, enhancing CRC's ability to transport crude oil efficiently and increasing market access for California producers. The transaction is expected to close in the third quarter of 2026, improving CRC's financial metrics and supporting local energy production and jobs.
California Resources Corporation Reports Second Quarter 2026 Financial and Operating Results
California Resources Corporation (CRC) reported strong financial and operational results for Q2 2026, including $514 million in net income and $114 million in free cash flow, along with a strategic acquisition of Crimson Midstream Holdings, LLC. The company also improved its long-term maintenance capital outlook, optimized its capital structure, and advanced its Golden Valley Technology Hub project and Carbon TerraVault I CCS project. CRC reaffirmed its full-year 2026 guidance, expecting continued production growth and shareholder returns.
California Resources plans to add about 2,000 miles of pipelines
California Resources Corporation (NYSE: CRC) announced its agreement to acquire Crimson Midstream Holdings for $63 million in cash, which will add approximately 2,000 miles of pipelines to its infrastructure. This acquisition is expected to enhance CRC's integrated California energy platform by improving crude transport, market connectivity, and third-party transportation opportunities. The deal, valued at about 4.4x enterprise value / 2027E adjusted EBITDA, is anticipated to close in the third quarter of 2026 and be accretive to CRC's key financial metrics.
California Resources Corporation Announces Q2 2026 Financial Results in 8-K Filing
California Resources Corporation has filed a Form 8-K with the U.S. Securities and Exchange Commission, announcing its financial results for the three and six months ending June 30, 2026. The article indicates that full details are available upon login or registration.
California Resources Plans $63M Purchase of California Pipeline Assets
California Resources Corporation (CRC) reported a strong Q2 2026 with $514 million net income and $114 million free cash flow, reaffirming its full-year 2026 guidance. The company announced the acquisition of Crimson Midstream for $63 million to expand its California pipeline assets and achieved annualized Berry merger synergies six months ahead of schedule. CRC also optimized its capital structure by refinancing debt and increased its quarterly dividend to $0.405 per share.
California Resources Corporation (CRC) Q2 Earnings Lag Estimates
California Resources Corporation (CRC) reported Q2 earnings of $0.99 per share, missing the Zacks Consensus Estimate of $1.31 and representing a 24.43% surprise. Despite the earnings miss, the company's revenues of $1.06 billion surpassed estimates by 7.83%. The stock currently holds a Zacks Rank #5 (Strong Sell) due to an unfavorable estimate revisions trend, indicating potential underperformance in the near future.
Pacer Advisors Inc. Lowers Position in California Resources Corporation $CRC
Pacer Advisors Inc. reduced its stake in California Resources Corporation (NYSE:CRC) by 33.8% in the first quarter, selling 179,978 shares and retaining 352,386 shares valued at approximately $24.4 million. Despite this, institutional investors still own 97.79% of CRC, and analysts maintain a "Moderate Buy" consensus rating with an average price target of $73.09. The company's recent earnings reported $0.88 EPS, meeting expectations, though quarterly revenue saw an 87% year-over-year decline to $119 million.
Empowered Funds LLC Trims Stock Position in California Resources Corporation $CRC
Empowered Funds LLC reduced its stake in California Resources Corporation (NYSE:CRC) by 30.4% in the first quarter, selling 30,600 shares and retaining 70,031 shares valued at approximately $4.85 million. Despite this, institutional investors collectively own 97.79% of CRC. The company reported quarterly EPS of $0.88, meeting estimates, but revenue saw a significant year-over-year decline, and it announced a quarterly dividend of $0.405 per share.
California Resources Corporation (CRC) Reports Next Week: Wall Street Expects Earnings Growth
Wall Street anticipates year-over-year earnings growth for California Resources Corporation (CRC) in its upcoming quarterly report for June 2026, with an expected release on August 10. While the company is projected to post earnings of $1.31 per share on $979.33 million in revenue, a recent 43.34% downward revision in EPS estimates, combined with a Zacks Rank #5, makes it difficult to definitively predict an earnings beat. Investors are advised to consider other factors beyond just earnings surprises.
Sei Investments Co. Acquires 48,997 Shares of California Resources Corporation $CRC
Sei Investments Co. increased its stake in California Resources Corporation (NYSE: CRC) by 45% in the first quarter, acquiring an additional 48,997 shares, bringing its total holdings to 157,798 shares valued at $10.9 million. Institutional investors now own 97.79% of the company. Despite a "Moderate Buy" consensus from analysts, several firms have lowered their price targets, and Zacks downgraded the stock to a "Strong Sell," while the company reported an in-line EPS of $0.88 but an 87% year-over-year revenue decline.
BlackRock (CRC investor) discloses 11.6M-share, 13% holding in CRC
BlackRock, Inc. has filed an amended Schedule 13G, revealing a 13.0% passive ownership stake in California Resources Corporation, totaling 11,576,596 shares. BlackRock holds sole voting power over 11,477,968 shares and sole dispositive power over all 11,576,596 shares. The filing also indicates that its affiliated fund, iShares Core S&P Small-Cap ETF, has an interest exceeding five percent in CRC common stock.
Arrowstreet Capital Limited Partnership Buys New Stake in California Resources Corporation $CRC
Arrowstreet Capital Limited Partnership acquired a new stake in California Resources Corporation (NYSE:CRC), purchasing 905,777 shares valued at approximately $62.7 million, representing about 1.02% of the company. Institutional investors collectively own 97.79% of CRC, and analysts have a "Moderate Buy" consensus rating with an average price target of $73.09. Despite recent downgrades and an 87% year-over-year revenue drop, the company maintains a quarterly dividend of $0.405 per share.
CRC|California Resources Corp|Price:53.470|Chg%:-0.790
California Resources Corp's fundamentals are stable with high growth potential, and its valuation is considered fair, ranking 24th in the Oil & Gas industry. Analysts have rated the stock as a Buy with a target price of $78.00, suggesting a 46.31% upside. Despite high institutional ownership, the stock price is expected to trend down in the medium term, currently trading sideways between support and resistance levels.
Barclays Remains a Buy on California Resources Corp (CRC)
Barclays analyst Betty Jiang maintained a Buy rating for California Resources Corp (CRC) with an $80.00 price target. This rating contributes to a Strong Buy consensus among analysts, despite recent negative insider sentiment indicated by increased selling of shares. The company recently reported a quarterly revenue of $967 million and a GAAP net loss of $711 million.
Barclays Remains a Buy on California Resources Corp (CRC)
Barclays analyst Betty Jiang maintained a Buy rating on California Resources Corp (CRC) with a price target of $80.00. Despite a strong buy consensus among analysts, corporate insider sentiment for CRC is negative, with recent insider selling. The company reported increased revenue but a net loss in its latest quarterly earnings.
Analysts’ Top Energy Picks: California Resources Corp (CRC), National Atomic Company Kazatomprom JSC GDR RegS (NATKY)
The article highlights bullish sentiments from analysts on two energy companies: California Resources Corp (CRC) and National Atomic Company Kazatomprom JSC GDR RegS (NATKY). Leo Mariani of Roth MKM maintained a Buy rating on California Resources Corp with a target of $72.00, while Alexander Pearce of BMO Capital maintained a Buy rating on National Atomic Company Kazatomprom with a $90.00 price target. The analyst consensus for CRC is a Strong Buy with an average price target of $77.33, and for NATKY is a Moderate Buy with a target of $90.00.
J.P. Morgan Sticks to Their Buy Rating for California Resources Corp (CRC)
J.P. Morgan has reiterated a Buy rating for California Resources Corp (CRC) with a price target of $77.00. Analyst Arun Jayaram, known for his success in the Energy sector, made the recommendation based on the company's Q1 earnings, which showed increased revenue but a net loss, and negative insider sentiment despite a Strong Buy consensus among analysts. The stock also saw a significant insider share sale in May 2026 by EVP Michael L Preston.
California Resources (CRC) EVP sells shares under Rule 10b5-1 trading plan
Jay A. Bys, EVP & Chief Commercial Officer of California Resources Corp (CRC), sold 11,907 shares of common stock at $54.00 per share on July 13, 2026, through a pre-arranged Rule 10b5-1 trading plan adopted on March 5, 2026. Following this transaction, Bys directly holds 159,424 shares. The sale amounted to $642,978 and was reported as an open-market transaction.
California Resources Corporation Files Form 8-K for July 14, 2026 – Key Financial Highlights and Corporate Information
California Resources Corporation (CRC) filed an 8-K revealing preliminary Q2 2026 results, highlighted by significant commodity derivative losses totaling $190 million. These losses, especially from oil price hedging in a rising market, could negatively impact profitability and shareholder value. Investors are advised to watch for potential share price volatility and scrutinize CRC's hedging strategy as the preliminary results are unaudited and subject to change.
California Resources Corporation Reports Q2 2026 Realized Oil Prices and $190 Million Loss from Commodity Derivatives
California Resources Corporation announced preliminary Q2 2026 results, indicating that its realized oil price after derivative settlements was significantly lower than benchmark prices. The company also anticipates a net derivative loss of $190 million for the quarter. These figures provide an early look into its financial performance, which will be closely watched by energy sector investors.
[144] California Resources Corp SEC Filing
Jay A. Bys has filed a Form 144 to potentially sell 11,907 shares of California Resources Corp (CRC) common stock, valued at $642,978.00, through Fidelity Brokerage Services LLC on or after July 13, 2026. The shares originated from restricted stock vesting events, and this filing follows a recent sale reported in the past three months. The filing details the acquisition dates of the shares and a previous sale on June 4, 2026.
California Resources Corp (CRC) Gets a Buy from Wells Fargo
Wells Fargo analyst Sam Margolin maintained a Buy rating on California Resources Corp (CRC) with a price target of $76.00, while the overall Street consensus is a Strong Buy with an average target of $78.89. The company recently reported a quarterly revenue of $967 million and a GAAP net loss of $711 million. Despite the positive analyst rating, corporate insider sentiment for CRC is negative, with an increase in insider selling over the past quarter.
California Resources Corp (CRC) Gets a Buy from Wells Fargo
Wells Fargo analyst Sam Margolin maintained a Buy rating on California Resources Corp (CRC) with a price target of $76.00. This recommendation comes amidst a "Strong Buy" consensus from other analysts, with an average price target of $78.89. Despite positive analyst sentiment, corporate insider activity shows a negative trend, with increased selling of shares by insiders in the last quarter.
California Resources Corporation Schedules Second Quarter 2026 Earnings Conference Call
California Resources Corporation (CRC) announced it will release its second-quarter 2026 financial results on Monday, August 10th, before market hours. The company will host a conference call on the same day at 1:00 p.m. Eastern Time to discuss these results. Participants are encouraged to pre-register for seamless access to the call.
California Resources (CRC) Completes $550 Million Debt Refinancing With New 2035 Notes
California Resources (NYSE:CRC) has successfully refinanced $550 million of its debt by issuing new 7.250% senior unsecured notes due 2035, using the proceeds to redeem existing 8.250% notes due 2029. This move extends their debt maturity profile by approximately six years and aims to reduce ongoing interest expenses. While analysts note the company still has a high debt level, this refinancing is seen as a step towards better financial flexibility and cost control.
California Resources Corporation sets Q2 2026 earnings call for August 10
California Resources Corporation (CRC) announced it will release its Q2 2026 financial results on August 10, 2026, before market open. The company will host a conference call on the same day at 1:00 p.m. ET to discuss the results, with pre-registration available for participants. A webcast and a 90-day digital replay of the call will be accessible on CRC's website.
California Resources Corporation Schedules Second Quarter 2026 Earnings Conference Call
California Resources Corporation (CRC) announced it will release its second quarter 2026 financial results on Monday, August 10th, before market hours. The company will host a conference call on the same day at 1:00 p.m. Eastern Time to discuss the results, encouraging participants to pre-register for easy access. A digital replay of the call will be available on CRC's Investor Relations page for approximately 90 days.
California Resources Corporation schedules Aug. 10 earnings call
California Resources Corporation (NYSE: CRC) has scheduled its second-quarter 2026 financial results release for Monday, August 10, 2026, before market hours. A corresponding earnings conference call will take place at 1:00 p.m. Eastern Time on the same day. Investors can participate via phone, webcast, or access a 90-day replay of the call.
California Resources Corporation Schedules Second Quarter 2026 Earnings Conference Call
California Resources Corporation (CRC) announced it will release its second quarter 2026 financial results on Monday, August 10th, before market hours. The company will host a conference call on the same day at 1:00 p.m. Eastern Time to discuss the results. Participants are encouraged to pre-register for the call.
To Solve a Major Problem With Data Centers, Put Them in Oil Fields
A new project in California's Elk Hills oil field proposes building a 600,000-square-foot data center campus, suggesting a solution to the growing community backlash against data center development. By repurposing an existing industrial site far from populated areas and utilizing a natural gas power plant running below capacity, the project aims to minimize environmental and community impact. This trend of locating data centers in or near oil and gas fields, especially declining ones, offers legacy producers new revenue streams and leverages existing power infrastructure.
Q&A: Chris Gould of the California Resources Corp.
California Resources Corp. (CRC), the state's largest oil producer, is diversifying its business to include carbon capture and storage and data centers. The company has begun injecting carbon dioxide into depleted oil reservoirs in Kern County and is also proposing to build a 100-acre data center campus powered by an existing gas plant. These initiatives represent CRC's efforts to repurpose infrastructure and adapt to California's push for less oil reliance.
Here’s Why California Resources Corporation (CRC) Excelled in Q1
Meridian Funds, managed by ArrowMark Partners, highlighted California Resources Corporation (NYSE:CRC) as a leading contributor in its Q1 2026 investor letter. The company's stock outperformed due to its unique ability to provide carbon-neutral energy and growing oil production, coupled with higher oil prices. While Meridian Contrarian Fund slightly trimmed its position, the company continues to be an investment for its varied assets including oil and gas production, ocean-front land, and carbon management.
The oil company pivoting to carbon storage and data centers
California Resources Corporation (CRC), an oil producer, is transitioning into carbon storage and data center operations. The company has begun injecting CO2 underground for permanent storage and is proposing a 100-acre data center campus, powered by its underutilized gas plant. This pivot leverages existing infrastructure and geological expertise, aiming to align with California's climate goals despite criticisms from environmental justice groups about prolonging fossil fuel infrastructure.
California Resources refinances debt with new 2035 notes
California Resources Corp has refinanced $550 million of its 8.250% senior unsecured notes due 2029 with new 7.250% senior unsecured notes due 2035. This move reduces the company's borrowing costs and adjusts its capital structure with new long-dated notes. Analytics from TipRanks' AI Analyst classify CRC as "Neutral" based on financial performance, earning calls, technical indicators, and valuation.
$550M debt refi extends California Resources (NYSE: CRC) notes to 2035
California Resources Corporation (CRC) has completed a private offering of $550 million in 7.250% senior unsecured notes due 2035. The proceeds from this offering, along with existing cash and/or revolving credit facility borrowings, were used to redeem $550 million of their 8.250% senior unsecured notes that were due in 2029. This refinancing extends the maturity profile of CRC's debt and modestly reduces its coupon rate.
California Resources Corporation proposes AI data center on former oilfield land in Kern County
California Resources Corporation is proposing to build an AI data center on former oilfield land located in Kern County. This development marks a significant shift in land use for the area, moving towards technology infrastructure. The project highlights an innovative approach to repurposing industrial sites for new economic ventures.
California Resources Corp Actuals & Estimates (NYSE:CRC)
This article provides an in-depth financial overview of California Resources Corporation (NYSE: CRC), including its current stock price, historical performance, analyst forecasts, and detailed financial statements. It covers market capitalization, earnings per share, revenue, net income, dividends, and volatility, offering a comprehensive look for potential investors.
California Resources Announces $550 Million Senior Notes Offering
California Resources Corp (CRC) announced a private offering of $550 million in senior unsecured notes due 2035 with a 7.250% coupon. The company plans to use the net proceeds of approximately $541 million to redeem its existing $550 million 8.250% senior notes due 2029, effectively refinancing higher-coupon debt with longer-dated notes to optimize its capital structure. Analysts currently rate CRC as a "Buy" with a $72.00 price target, although TipRanks' AI Analyst, Spark, assesses CRC as "Neutral" due to weak technical signals despite upgraded guidance and improved efficiency.
A solution to data center backlash? Put them in oil fields.
California Resources Corporation (CRC), the state's largest oil company, plans to build a 600,000-square-foot data center campus in the Elk Hills oil field, aiming to circumvent community backlash faced by data centers nationwide. This project suggests a new trend of locating data centers in oil and gas fields, far from populated areas and with ready access to existing power infrastructure. While the data center will rely on fossil fuels, CRC is expanding into carbon capture, intending to capture CO2 emissions from the power plant supplying the data center.
California Resources Announces $550 Million Senior Notes Offering
California Resources Corporation announced a proposed private offering of $550 million in senior unsecured notes due 2035 to refinance its existing 8.250% senior unsecured notes due 2029. This strategic move aims to extend the company's debt maturity and potentially lower future interest costs. Despite mid-quality financials and weak technical signals, the company is focused on optimizing its capital structure and advancing energy transition initiatives.
