California Resources
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 6,809 funds
0
Analysts bullish %
of 6 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
21% more repeat investments, than reductions
Existing positions increased: 98 | Existing positions reduced: 81
15% more capital invested
Capital invested by funds: $3.91B [Q2] → $4.47B (+$570M) [Q3]
0% more funds holding in top 10
Funds holding in top 10: 7 [Q2] → 7 (+0) [Q3]
4% less funds holding
Funds holding: 259 [Q2] → 249 (-10) [Q3]
12.27% less ownership
Funds ownership: 107.5% [Q2] → 95.22% (-12.27%) [Q3]
23% less first-time investments, than exits
New positions opened: 34 | Existing positions closed: 44
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
$57
13%
upside
Avg. target
$67
32%
upside
High target
$74
46%
upside
6 analyst ratings
4 positive
67%
2 neutral
33%
0 negative
0%
JP Morgan Alejandra Magana 0 / 0 met price target | 25%upside $63 | Neutral Initiated | 20 Dec 2024 |
TD Cowen David Deckelbaum 0% 1-year accuracy 0 / 1 met price target | 46%upside $74 | Buy Maintained | 26 Nov 2024 |
Jefferies Michael Schwartz 0% 1-year accuracy 0 / 1 met price target | 27%upside $64 | Buy Initiated | 24 Oct 2024 |
Stephens & Co. Mike Scialla 45% 1-year accuracy 15 / 33 met price target | 44%upside $73 | Overweight Initiated | 22 Oct 2024 |
UBS Josh Silverstein 11% 1-year accuracy 5 / 47 met price target | 34%upside $68 | Buy Initiated | 16 Oct 2024 |
Financial journalist opinion
Based on 4 articles about CRC published over the past 30 days
Neutral
GlobeNewsWire
5 days 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 week 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 week 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
2 weeks 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
1 month 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
1 month 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
1 month 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.
Positive
Zacks Investment Research
1 month ago
California Resources Corporation (CRC) Q3 Earnings and Revenues Surpass Estimates
California Resources Corporation (CRC) came out with quarterly earnings of $1.50 per share, beating the Zacks Consensus Estimate of $0.89 per share. This compares to earnings of $1.02 per share a year ago.
Neutral
GlobeNewsWire
1 month ago
California Resources Reports Third Quarter 2024 Financial and Operating Results
LONG BEACH, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC) today reported financial and operating results for the third quarter of 2024.
Neutral
GlobeNewsWire
1 month ago
Carbon TerraVault Provides Third Quarter 2024 Update
Received Kern County Board of Supervisors' Conditional Use Permits Approval for CTV I CCS project Signed a Brownfield MOU for up to ~1.5 MMTPA of CO 2 Emissions LONG BEACH, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Carbon TerraVault Holdings, LLC (CTV), a carbon management subsidiary of California Resources Corporation (NYSE: CRC), today provided a third quarter 2024 update.
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