California ResourcesCRC
CRC
About: California Resources Corp is an independent oil and natural gas exploration and production company operating properties exclusively within California. It provides affordable and reliable energy in a safe and responsible manner, to support and enhance the quality of life of Californians and the local communities in which the company operates. It has some of the lowest carbon intensity production in the United States and is focused on maximizing the value of its land, mineral, and technical resources for decarbonization by developing carbon capture and storage (CCS) and other emissions-reducing projects.
Employees: 970
0
Funds holding %
of 6,823 funds
0
Analysts bullish %
of 6 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
20% more repeat investments, than reductions
Existing positions increased: 98 | Existing positions reduced: 82
14% more capital invested
Capital invested by funds: $3.92B [Q2] → $4.48B (+$567M) [Q3]
0% more funds holding in top 10
Funds holding in top 10: 7 [Q2] → 7 (+0) [Q3]
4% less funds holding
Funds holding: 260 [Q2] → 250 (-10) [Q3]
12.4% less ownership
Funds ownership: 107.79% [Q2] → 95.39% (-12.4%) [Q3]
21% less first-time investments, than exits
New positions opened: 34 | Existing positions closed: 43
31% less call options, than puts
Call options by funds: $59.8M | Put options by funds: $86.6M
Research analyst outlook
6 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$63
17%
upside
Avg. target
$70
30%
upside
High target
$75
40%
upside
6 analyst ratings
5 positive
83%
1 neutral
17%
0 negative
0%
RBC Capital Scott Hanold 72% 1-year accuracy 33 / 46 met price target | 31%upside $70 | Outperform Reiterated | 14 Jan 2025 |
Truist Securities Neal Dingmann 63% 1-year accuracy 100 / 159 met price target | 40%upside $75 | Buy Initiated | 13 Jan 2025 |
JP Morgan Alejandra Magana 0 / 0 met price target | 17%upside $63 | Neutral Initiated | 20 Dec 2024 |
TD Cowen David Deckelbaum 0% 1-year accuracy 0 / 1 met price target | 38%upside $74 | Buy Maintained | 26 Nov 2024 |
Jefferies Michael Schwartz 100% 1-year accuracy 1 / 1 met price target | 19%upside $64 | Buy Initiated | 24 Oct 2024 |
Financial journalist opinion
Based on 3 articles about CRC published over the past 30 days
Neutral
GlobeNewsWire
5 days ago
California Resources Corporation Schedules Fourth Quarter and Full Year 2024 Earnings Conference Call
LONG BEACH, Calif., Jan. 15, 2025 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC) plans to release its fourth quarter and full year 2024 financial results on Monday, March 3rd before market hours.
Neutral
GlobeNewsWire
2 weeks ago
CRC Approves California's First Carbon Capture and Storage Project
Project to Capture and Store up to 100 Thousand Metric Tons of CO 2 Annually From the Elk Hills Cryogenic Gas Plant LONG BEACH, Calif., Jan. 06, 2025 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC) and its carbon management business, Carbon TerraVault (CTV), today announced approval of the Golden State's first carbon capture and storage (CCS) project, located at CRC's Elk Hills cryogenic gas plant in Kern County, California.
Neutral
GlobeNewsWire
2 weeks ago
CRC's Carbon TerraVault Receives EPA Permits for CO2 Injection and Storage in California
Represents Nation's First Class VI Permits to Sequester CO2 in Depleted Oil and Natural Gas Fields LONG BEACH, Calif., Dec. 31, 2024 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC) and its carbon management business, Carbon TerraVault (CTV), today announced receipt of final Class VI well permits from the Environmental Protection Agency (EPA) for underground injection and storage of carbon dioxide (CO2) into the 26R reservoir, located at CRC's Elk Hills Field in Kern County, California.
Neutral
GlobeNewsWire
1 month ago
California Resources Corporation Announces January Investor Conference Participation
LONG BEACH, Calif., Dec. 16, 2024 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC), an independent energy and carbon management company committed to energy transition, announced today that the Company's executives will be participating in the following events in January 2025: Goldman Sachs Energy, CleanTech & Utilities Conference 2025 on January 7 to 8 in Aventura, FL StoneX Natural Resources Day 3.0 on January 9 in New York, NY UBS Winter Infrastructure & Energy Conference on January 13 to 15 in Deer Valley, UT Jefferies CCS Conference on January 14 held virtually CRC's presentation materials will be available the day of the event on the Earnings and Presentations page in the Investor Relations section on www.crc.com.
Neutral
GlobeNewsWire
1 month ago
Carbon TerraVault and Net Power Sign MOU to Develop Low Carbon, Reliable Power Solutions in California
Net Power's Greenfield Facilities Initially Target up to 1GW of Reliable, Low Carbon Baseload Power Carbon TerraVault Expected to Transport and Sequester up to 3.6 Million Metric Tons of CO 2 Emissions Annually LONG BEACH, Calif. and DURHAM, N.C.
Neutral
Business Wire
1 month ago
Carbon TerraVault and Net Power Sign MOU to Develop Low Carbon, Reliable Power Solutions in California
LONG BEACH, Calif. & DURHAM, N.C.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC), and its carbon management business, Carbon TerraVault (CTV), today announced the signing of a Memorandum of Understanding (MOU) with Net Power Inc. (NYSE: NPWR), to develop Net Power's ultra-low emission power plants in California1. Under the terms of the MOU, the parties plan to conduct feasibility studies on locating Net Power's facilities in proximity to CTV's underground storage vaults, which w.
Neutral
Business Wire
1 month ago
Voltu Motor Meets California Resources Board Permissions to Commercialize Zero Carbon Class 3 Trucks
RIVERSIDE, Calif.--(BUSINESS WIRE)--Voltu Motor, a pioneering manufacturer of zero-emission commercial vehicles, has received approval from the California Air Resources Board (CARB) to commercialize its zero-carbon Class 3 trucks. This approval underscores Voltu Motor's commitment to meeting sustainability and compliance regulatory requirements and puts the company at the forefront of commercializing Class 3 trucks. Voltu recently announced the company will build its manufacturing facility in R.
Neutral
MarketBeat
2 months ago
California Resources Stock Could Be a Huge Long-Term Winner
With all the talk around AI and data centers, markets have been swooning over companies that can provide one key resource to power these trends: electricity. AI workloads run on data centers that need a lot of electricity.
Neutral
Zacks Investment Research
2 months ago
A Closer Look at the U.S. Upstream Oil & Gas Industry
Following a careful analysis of the Zacks Oil and Gas - Exploration and Production - United States industry, we advise focusing on shares of companies like CIVI, NOG, CRC and AMPY.
Neutral
Seeking Alpha
2 months ago
California Resources Corporation (CRC) Q3 2024 Earnings Call Transcript
California Resources Corporation (NYSE:CRC ) Q3 2024 Earnings Conference Call November 6, 2024 1:00 PM ET Company Participants Joanna Park - Vice President, Investor Relations and Treasurer Francisco Leon - Chief Executive Officer Nelly Molina - Chief Financial Officer Jay Bys - Executive Vice President and CCO Omar Hayat - Executive Vice President, Operations Conference Call Participants Scott Hanold - RBC Capital Markets Kalei Akamine - Bank of America Betty Jiang - Barclays David Deckelbaum - TD Cowen Josh Silverstein - UBS Scott Gruber - Citigroup Leo Mariani - ROTH Michael Scialla - Stephens Noel Parks - Tuohy Brothers Operator Good day. And welcome to the California Resources Corporation Third Quarter 2024 Conference Call.
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