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.
$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 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.
California Resources Corporation Prices $550 Million Senior Unsecured Notes to Redeem 2029 Notes
California Resources Corporation (CRC) has priced a private offering of $550 million in 7.250% senior unsecured notes due 2035 at par. The company intends to use the net proceeds, estimated at $541 million, along with existing funds, to redeem all outstanding $550 million of its 2029 notes at a premium. This refinancing aims to impact CRC's liquidity and debt profile, potentially strengthening its balance sheet and reducing future interest expenses.
California Resources (NYSE: CRC) to refinance $550M 2029 notes with 2035 debt
California Resources Corporation (NYSE: CRC) is refinancing $550 million of its 8.250% senior notes due 2029 with a new private offering of $550 million 7.250% senior unsecured notes due 2035. The company expects net proceeds of approximately $541 million, which will be used, along with other funds, to redeem the existing 2029 notes at a premium. This move aims to lower interest costs and extend debt maturity.
California Resources Corp (CRC) Receives a Rating Update from a Top Analyst
Roth MKM analyst Leo Mariani maintained a Buy rating on California Resources Corp (CRC) with a price target of $72.00, citing his strong track record. The analyst consensus for CRC is a Strong Buy with an average price target of $79.78. Despite recent insider selling, the company reported increased revenue of $967 million in its latest quarter, though it experienced a GAAP net loss of $711 million.
California Resources (NYSE: CRC) eyes $550M 2035 notes to redeem 2029 issue
California Resources Corporation (NYSE: CRC) plans a private offering of $550 million in senior unsecured notes due 2035. The proceeds, along with its credit facility and/or cash, will be used to redeem all outstanding $550 million of its 8.250% senior unsecured notes due 2029 at 104.125% of principal plus accrued interest. The company's recent financial data, presented pro forma after the Berry merger, show $119 million in total operating revenues and a net loss of $711 million for Q1 2026, with adjusted EBITDAX of $304 million.
California Resources Corporation Announces Pricing of Private Offering of $550 Million of Senior Unsecured Notes
California Resources Corporation (CRC) announced the pricing of a private offering of $550 million in aggregate principal amount of 7.250% senior unsecured notes due 2035 at par. The net proceeds, estimated at approximately $541 million, will be used to redeem all outstanding 2029 Notes, subject to the offering's completion. The notes are offered solely to qualified institutional buyers and non-U.S. persons under specific securities regulations.
California Resources Corporation Announces Private Offering of $550 Million of Senior Unsecured Notes
California Resources Corporation announced a private offering of $550 million in senior unsecured notes due 2035. The company plans to use the net proceeds, along with other funds, to redeem all its outstanding 2029 Notes, which total $550 million. This offering is subject to market conditions and regulatory exemptions.
California Resources Corporation Announces Pricing of Private Offering of $550 Million of Senior Unsecured Notes
California Resources Corporation announced the pricing of a private offering of $550 million in 7.250% senior unsecured notes due 2035 at par, with the offering expected to close on June 26, 2026. The net proceeds, estimated at $541 million, will be used to fund the redemption of all outstanding $550 million of its 2029 Notes. This offering is part of the company's financial strategy to manage its debt structure.
How First Carbon Storage Injection at Carbon TerraVault I Will Impact California Resources (CRC) Investors
California Resources Corp (CRC) recently initiated the first CO2 injection at its Carbon TerraVault I project, marking a significant step in carbon capture and storage in California. This development is crucial for CRC's future, offering a new potential income stream and transforming its image into a carbon management provider amidst current earnings pressure from traditional oil and gas operations. While the project strengthens the company's narrative, investors should be aware of ongoing regulatory risks and evaluate the potential impact on CRC's financial forecasts and stock valuation.
How First Carbon Storage Injection at Carbon TerraVault I Will Impact California Resources (CRC) Investors
California Resources Corporation (CRC) has initiated carbon dioxide injection at its Carbon TerraVault I project, marking the state's first operational carbon capture and storage facility. This milestone could redefine CRC's investment profile by creating a new revenue stream in carbon management, especially vital given recent traditional oil and gas earnings pressure. Investors should consider how this new venture balances against regulatory uncertainties in California.
California Resources (NYSE: CRC) EVP sells 11,907 shares under plan
Jay A. Bys, EVP & Chief Commercial Officer at California Resources Corp (NYSE: CRC), sold 11,907 shares of common stock on June 4, 2026, at an average price of $61.68 per share. This transaction was executed automatically under a pre-planned Rule 10b5-1 trading plan adopted on March 5, 2026. Following the sale, Bys directly holds 171,331 shares of the company's stock.
Here's why California Resources Corporation (CRC) is a strong momentum stock
This article from MSN focuses on why California Resources Corporation (CRC) is considered a strong momentum stock. It likely discusses factors contributing to its current market performance and potential for continued upward movement.
California Resources Corporation (CRC) Presents at Bank of America Energy & Power Credit Conference - Slideshow
California Resources Corporation (CRC) presented a slideshow at the Bank of America Energy & Power Credit Conference. The article, published by SA Transcripts, highlights the company's participation in this event. It encourages readers to view the presented slide deck for more details.
California Resources Corporation Achieves First CO₂ Injection at Carbon TerraVault I, a Major Milestone for Carbon Management in California
California Resources Corporation (CRC) has successfully initiated CO₂ injection at its Carbon TerraVault I (CTV I) project, marking California's first operational carbon capture and storage (CCS) facility. Located in Kern County, the project leverages existing infrastructure to store CO₂ underground and aims to significantly reduce emissions, with CTV I – 26R capable of storing up to 1.46 million metric tons of CO₂ annually. This milestone is a collaborative effort with state and federal agencies, positioning California as a leader in climate solutions while strengthening energy resilience and contributing to the state's carbon neutrality goals.
Analysts Are Bullish on These Energy Stocks: Canadian Natural (CNQ), California Resources Corp (CRC)
Analysts are showing bullish sentiment towards Canadian Natural (CNQ) and California Resources Corp (CRC) in the energy sector. Goldman Sachs maintained a Buy rating on Canadian Natural with a $53.00 price target, while RBC Capital maintained a Buy rating on California Resources Corp with an $87.00 price target. The article highlights the analyst consensus and upside potential for both stocks.
Executive VP Of California Resources Sold 62% Of Their Shares
The Executive VP of California Resources, Michael Preston, recently sold US$1.6m worth of stock, representing 62% of his holding. While insiders bought 5.89k shares over the last year, total sales significantly outweighed purchases, raising some caution. The article notes that insider ownership is 0.5%, suggesting alignment but highlighting the recent sell-off as a point of concern for investors.
Analysts Are Bullish on These Energy Stocks: Canadian Natural (CNQ), California Resources Corp (CRC)
This article highlights two energy stocks, Canadian Natural (CNQ) and California Resources Corp (CRC), that have received bullish ratings from analysts. Goldman Sachs maintained a Buy rating for Canadian Natural with a $53.00 price target, while RBC Capital maintained a Buy rating for California Resources Corp, setting a price target of $87.00. Both companies show significant upside potential according to analyst consensus.
California Resources Corporation carbon capture project now injecting CO2 in Kern County
California Resources Corporation has begun injecting CO2 in its carbon capture project located in Kern County. This development was reported by KERO - Bakersfield Scripps.
California Resources Corporation Achieves First CO₂ Injection at Carbon TerraVault I, a Major Milestone for Carbon Management in California
California Resources Corporation (CRC) announced the first carbon dioxide (CO₂) injection at its Carbon TerraVault I (CTV I) project in Kern County, California. This project is the state's first operational carbon capture and storage (CCS) facility, aiming to advance carbon neutrality by storing CO₂ from industrial sources deep underground. The CTV I project, a joint venture with Brookfield, has a potential storage capacity of 38 million metric tons and has received Class VI permits from the U.S. EPA.
California Resources starts first CO2 injection at state's inaugural CCS project (CRC:NYSE)
California Resources Corp. (CRC) announced the first carbon dioxide injection at its Carbon TerraVault I (CTV I) carbon capture and storage project located at the company's Elk Hills field in Kern County. This marks California's inaugural operational CCS project. The company is actively establishing its presence in the carbon capture and storage sector.
Analysts’ Opinions Are Mixed on These Energy Stocks: California Resources Corp (CRC), Murphy Oil (MUR) and Permian Resources (PR)
J.P. Morgan analysts have given mixed ratings for three energy stocks: California Resources Corp (CRC), Murphy Oil (MUR), and Permian Resources (PR). Zach Parham maintained a Buy rating for CRC with an $83.00 price target, while Arun Jayaram maintained a Hold rating for Murphy Oil with a $46.00 target. Neil Mehta from Goldman Sachs maintained a Buy rating on Permian Resources with a $23.00 price target.
CRC (NYSE: CRC) COO reports PSU vesting and tax-withholding share surrender
California Resources Corp EVP & COO Omar Hayat reported equity compensation transactions, including the vesting of 173 performance stock units (PSUs) on May 8, 2026. Hayat surrendered 145 shares to cover tax withholding obligations for both vested PSUs and Restricted Stock Units (RSUs) at a reference price of $58.92 per share. Following these transactions, Hayat's direct ownership in California Resources Corp stands at 82,409 shares.
These Analysts Think California Resources Corporation's (NYSE:CRC) Sales Are Under Threat
Analysts have significantly lowered their revenue forecasts for California Resources Corporation (NYSE:CRC) for 2026, dropping the consensus from US$3.9 billion to US$3.1 billion. This implies a 12% reduction in sales over the past year and a projected 15% annual decline, lagging behind the wider industry's expected growth of 3.5% per year. The downgrade suggests a less optimistic outlook for the company's future performance.
These Analysts Think California Resources Corporation's (NYSE:CRC) Sales Are Under Threat
Analysts have significantly lowered their near-term revenue forecasts for California Resources Corporation, with consensus estimates now predicting a 12% reduction in sales for 2026. This downward revision suggests a less optimistic outlook for the company, as its revenues are expected to decline by 15% annually through 2026, lagging behind the broader industry's anticipated growth. The substantial downgrade makes analysts more wary about California Resources' future performance.
California Resources Corporation (NYSE:CRC) Q1 2026 Earnings Call Transcript
California Resources Corporation (NYSE:CRC) reported a strong Q1 2026, exceeding EBITDAX guidance and raising its full-year outlook due to favorable energy markets and strategic execution. The company is accelerating development, increasing drilling rigs, and expanding its carbon management business, including the imminent commissioning of California's first commercial-scale carbon capture project. CRC emphasized its unique position to provide reliable, lower-emission energy solutions for California while focusing on disciplined capital allocation and shareholder returns.
Press Release: California Resources Corporation Reports First Quarter 2026 Financial and Operating Results
California Resources Corporation announced its financial and operating results for the first quarter of 2026. The company reported its earnings and other key performance indicators during this period. This press release provides a detailed overview of their financial health and operational achievements for the quarter.
California Resources Corporation $CRC Position Increased by Vanguard Group Inc.
Vanguard Group Inc. increased its stake in California Resources Corporation (NYSE:CRC) by 6.4% in the fourth quarter, now owning 10.48% of the company. Despite this, company insiders have been net sellers, offloading shares worth approximately $4.64 million in the last three months. California Resources recently reported Q1 EPS of $0.88, matching estimates, but revenue significantly declined by 87% year-over-year, and the company also declared a quarterly dividend of $0.405 per share.
Hedge losses drive California Resources (NYSE: CRC) to $711M Q1 loss
California Resources Corporation (NYSE: CRC) reported a net loss of $711 million for Q1 2026, primarily due to a non-cash loss of $792 million on commodity derivatives, despite stronger underlying oil and gas sales following the Berry Merger. The company's total operating revenues fell to $119 million, but net production increased to 154 MBoe/d, including contributions from the Berry assets. CRC maintained a solid liquidity position of approximately $1.28 billion and continued to return capital to shareholders through dividends and share repurchases, while also increasing its 2026 capital program.
California Resources Corporation (NYSE:CRC) Declares $0.41 Quarterly Dividend
California Resources Corporation (NYSE:CRC) declared a quarterly dividend of $0.405 per share, payable on June 18th to shareholders of record on May 29th, representing a 2.5% yield. The oil and gas producer's dividend payout ratio is 45.3%, well-covered by earnings and projected future EPS. The company reported Q1 EPS of $0.88, matching estimates, but revenue significantly declined year-over-year to $119 million.
Press Release: California Resources Corporation Reports First Quarter 2026 Financial and Operating Results
The press release from California Resources Corporation announces its financial and operating results for the first quarter of 2026. This release provides key performance indicators and financial health updates for the company during that period.
Earnings Flash (CRC) California Resources Corporation Posts Q1 Adjusted EPS $0.88 per Share, Vs. FactSet Est of $0.88
California Resources Corporation (CRC) announced its Q1 adjusted EPS of $0.88 per share, meeting FactSet's estimate of $0.88. The report provides a quick overview of the company's financial performance for the quarter.
California Resources Corporation announces a 12% increase in the midpoint of its annual synergy target range from the 2026 Berry acquisition, setting the new target at $900 million to $1 billion
California Resources Corporation has increased the midpoint of its annual synergy target range for the 2026 Berry acquisition by 12%, now projecting $900 million to $1 billion. This upward revision stems from a more optimistic outlook on operational efficiency and cost savings post-merger. The company anticipates achieving significant economic benefits through asset integration and business process restructuring, reflecting strong management confidence in the deal's strategic value and providing clearer financial guidance to investors.
Higher oil prices push California Resources to add 7 rigs in 2026
California Resources Corporation (CRC) reported its Q1 2026 financial results, including a net loss of $711 million due to non-cash derivative losses, but raised its full-year 2026 adjusted EBITDAX guidance by 42% to $1,450 million. This increase is driven by higher oil prices, increased drilling activity, and improved operating efficiencies. CRC plans to accelerate its drilling program by adding more rigs in the second half of 2026, aiming for a year-end exit production rate of approximately 175 MBoe/d.
Earnings Flash (CRC) California Resources Corporation Posts Q1 Adjusted EPS $0.88 per Share, vs. FactSet Est of $0.88
California Resources Corporation (CRC) announced its first quarter adjusted earnings per share (EPS) of $0.88, matching the FactSet estimate of $0.88. The report also indicated that the company's Q1 adjusted net income and revenue had fallen. California Resources Corporation is an independent energy and carbon management company focused on oil and natural gas exploration and production, and carbon management through its Carbon TerraVault business.
California Resources (NYSE: CRC) lifts 2026 EBITDAX guidance after Q1 2026 hedge-driven loss
California Resources Corporation (CRC) reported a Q1 2026 net loss of $711 million, mainly due to an $848 million non-cash loss on commodity derivatives. Despite this, the company showed strong underlying operations with adjusted net income of $79 million and adjusted EBITDAX of $304 million. CRC significantly raised its 2026 adjusted EBITDAX guidance midpoint by 42% to $1,450 million and increased its capital budget to accelerate drilling activities, while maintaining solid liquidity and returning $46 million to shareholders.
California Resources Corporation announces a 12% increase in the midpoint of its annual synergy target range from the 2026 Berry acquisition, setting the new target at $900 million to $1 billion
California Resources Corporation has increased the midpoint of its annual synergy target range from the 2026 Berry acquisition by 12%, raising the new target to $900 million to $1 billion. This adjustment reflects an optimistic assessment of improved operational efficiency and cost-saving potentials post-merger. The company anticipates significant economic benefits through asset integration and business process restructuring, signaling management's strong confidence in the merger's strategic value and providing clearer financial guidance to investors.
California Resources Corp (CRC) director receives 3,091 RSUs award
California Resources Corp director Mark Allen McFarland was granted 3,091 restricted stock units (RSUs) as part of a compensation-related award, increasing his direct holdings to 79,356 shares. These RSUs, which have no cash cost to McFarland, will vest on April 30, 2027, and will be settled in common stock shares three months and one day after his separation from service. This transaction is categorized as neutral in impact and sentiment, representing an equity award rather than an open-market purchase.
Director at California Resources (CRC) awarded 5,023 RSUs
California Resources Corp director Tiffany Thom Cepak was granted 5,023 restricted stock units (RSUs) on April 30, 2026, as equity compensation. These RSUs, valued at $0.0000 per share, will vest on April 30, 2027, and will be settled in shares approximately three months and one day after her separation from service. Following this award, Cepak directly holds 86,325 shares of Common Stock.
Board member at California Resources (NYSE: CRC) receives 3,091 RSUs
Christian S. Kendall, a director at California Resources Corp (NYSE: CRC), was granted 3,091 restricted stock units (RSUs). These RSUs, which increase his direct holdings to 33,389 shares, were awarded at no cash cost and will vest on April 30, 2027. The RSUs represent a contingent right to receive common stock shares, which will be settled three months and one day after his separation from service.
California Resources (NYSE: CRC) awards 3,091 RSUs to director Andrew Bremner
California Resources (NYSE: CRC) director Andrew Bremner was granted 3,091 restricted stock units (RSUs) on April 30, 2026. These RSUs, which represent the right to receive one share of common stock each at no cost, will vest on April 30, 2027, and will be settled in shares three months and one day after his separation from service. Following this grant, Bremner directly holds 30,982 shares of California Resources common stock.
[SCHEDULE 13G] California Resources Corp Passive Investment Disclosure (>5%)
Vanguard Portfolio Management has reported a 5.94% passive beneficial ownership stake in California Resources Corp (CRC) as of March 31, 2026. The Schedule 13G filing indicates that Vanguard holds 5,275,431 shares, with sole dispositive power over all these shares and sole voting power over 28,176 shares. This institutional holding aggregates across Vanguard Portfolio Management LLC and its specified affiliates.
How many employees work at California Resources?
California Resources Corp. currently has 1,509 employees, representing a 5.9% year-over-year decline. The company's headcount has steadily decreased since 2022, and its active job postings have also seen significant declines in recent years. California Resources is an independent energy and carbon management company focused on energy transition and decarbonization efforts.
California Resources Amends Credit Facility to Cut Borrowing Costs
California Resources Corp (CRC) has amended its credit facility with Citibank, N.A., to reduce borrowing costs and enhance financial flexibility. This move is expected to improve cash flow and strengthen its capital structure. Analysts currently rate CRC as a "Buy" with a $72.00 price target, and TipRanks' AI Analyst, Spark, considers it an "Outperform" due to improved financial strength and constructive price momentum.
California Resources Amends Credit Facility to Cut Borrowing Costs
California Resources Corporation (CRC) has amended its credit agreement, specifically revising the pricing grid to lower its borrowing costs. This move aims to enhance financial flexibility, improve cash flow, and strengthen the company's capital structure within the capital-intensive energy sector. Analysts currently hold a "Buy" rating on CRC stock with a $72.00 price target, and TipRanks’ AI Analyst, Spark, rates it as "Outperform" due to improved financial strength and constructive price momentum.
