California Resources (NYSE:CRC) Cut to Sell at Wall Street Zen

01 Apr 2026, 05:50 by Michael Walen · The Markets Daily

Wall Street Zen downgraded shares of California Resources (NYSE:CRC – Free Report) from a hold rating to a sell rating in a report issued on Sunday.

Several other research analysts have also recently commented on the stock. Royal Bank Of Canada set a $70.00 price target on shares of California Resources in a report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of California Resources in a research report on Wednesday, January 21st. Wells Fargo & Company boosted their target price on shares of California Resources from $72.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 17th. UBS Group increased their target price on California Resources from $63.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Barclays raised their price target on California Resources from $67.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $70.50.

Check Out Our Latest Stock Analysis on California Resources

California Resources Stock Performance

Shares of CRC opened at $69.20 on Friday. California Resources has a 1 year low of $30.97 and a 1 year high of $71.98. The stock has a market capitalization of $6.14 billion, a PE ratio of 16.96 and a beta of 1.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 0.89. The stock has a 50-day simple moving average of $59.04 and a 200-day simple moving average of $52.10.

California Resources (NYSE:CRC – Get Free Report) last released its earnings results on Monday, March 2nd. The oil and gas producer reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The firm had revenue of $924.00 million for the quarter, compared to analysts’ expectations of $789.67 million. California Resources had a return on equity of 10.23% and a net margin of 9.89%.The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. On average, analysts predict that California Resources will post 3.85 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 13th were issued a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.62 dividend on an annualized basis and a yield of 2.3%. California Resources’s dividend payout ratio (DPR) is presently 39.71%.

Insider Activity at California Resources

In related news, COO Omar Hayat sold 23,000 shares of California Resources stock in a transaction on Monday, March 9th. The shares were sold at an average price of $65.87, for a total transaction of $1,515,010.00. Following the sale, the chief operating officer directly owned 82,236 shares in the company, valued at $5,416,885.32. This trade represents a 21.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Noelle M. Repetti sold 8,564 shares of California Resources stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $63.71, for a total transaction of $545,612.44. Following the sale, the vice president owned 7,684 shares in the company, valued at $489,547.64. This represents a 52.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 72,283 shares of company stock worth $4,636,646 over the last 90 days. 0.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On California Resources

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of California Resources by 89.1% in the 1st quarter. AQR Capital Management LLC now owns 46,532 shares of the oil and gas producer’s stock valued at $2,046,000 after purchasing an additional 21,923 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in California Resources by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,663 shares of the oil and gas producer’s stock worth $1,832,000 after buying an additional 2,394 shares during the last quarter. Goldman Sachs Group Inc. increased its position in California Resources by 38.2% during the first quarter. Goldman Sachs Group Inc. now owns 657,628 shares of the oil and gas producer’s stock worth $28,916,000 after buying an additional 181,833 shares during the period. Empowered Funds LLC increased its position in California Resources by 3.8% during the first quarter. Empowered Funds LLC now owns 50,786 shares of the oil and gas producer’s stock worth $2,233,000 after buying an additional 1,857 shares during the period. Finally, Intech Investment Management LLC lifted its stake in California Resources by 17.7% in the first quarter. Intech Investment Management LLC now owns 31,870 shares of the oil and gas producer’s stock valued at $1,401,000 after buying an additional 4,783 shares during the last quarter. Hedge funds and other 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.