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California Resources (CRC) Stock Forecast, Price Target & Predictions

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CRC Stock Forecast

California Resources stock forecast is as follows: an average price target of $66.50 (represents a 31.53% upside from CRC’s last price of $50.56) and a rating consensus of 'Buy', based on 11 wall street analysts offering a 1-year stock forecast.

CRC Price Target

The average price target for California Resources (CRC) is $66.50 based on 1-year price targets from 11 Wall Street analysts in the past 3 months, with a price target range of $73.00 to $64.00. This represents a potential 31.53% upside from CRC's last price of $50.56.

CRC Analyst Ratings

Buy

According to 11 Wall Street analysts, California Resources's rating consensus is 'Buy'. The analyst rating breakdown for CRC stock is 0 'Strong Buy' (0.00%), 10 'Buy' (90.91%), 1 'Hold' (9.09%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).

California Resources Price Target by Analyst

DateAnalystCompanyPrice TargetPrice when PublishedPrice Target/Price when PublishedPrice Target/Last Closing Price
Oct 24, 2024Michael SchwartzJefferies$64.00$52.5821.72%26.58%
Oct 21, 2024Mike SciallaStephens$73.00$50.4144.81%44.38%
Oct 16, 2024Josh SilversteinUBS$68.00$51.0333.25%34.49%
Sep 11, 2024Nitin KumarMizuho Securities$64.00$47.5034.74%26.58%
Sep 05, 2024Scott GruberCitigroup$65.00$48.9232.87%28.56%
Aug 21, 2024Kalei AkamineBank of America Securities$65.00$49.4931.34%28.56%
Jun 12, 2024Scott HanoldRBC Capital$65.00$46.4040.09%28.56%
Apr 23, 2024Nate PendletonStifel Nicolaus$69.00$55.8023.66%36.47%
Mar 22, 2024Nitin KumarMizuho Securities$63.00$53.0618.73%24.60%
Sep 25, 2023Roth MKM RatingsRoth Capital$56.00$55.770.40%10.76%
Jul 14, 2023Nitin KumarMizuho Securities$60.00$45.5631.69%18.67%

The latest California Resources stock forecast, released on Oct 24, 2024 by Michael Schwartz from Jefferies, set a price target of $64.00, which represents a 21.72% increase from the stock price at the time of the forecast ($52.58), and a 26.58% increase from CRC last price ($50.56).

California Resources Price Target by Period

1M3M12M
# Anlaysts-39
Avg Price Target-$68.33$66.22
Last Closing Price$50.56$50.56$50.56
Upside/Downside-100.00%35.15%30.97%

In the current month, the average price target of California Resources stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to California Resources's last price of $50.56. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.

Analyst Ratings Upgrades/Downgrades

DateCompanyPrevious RatingNew RatingRating Change
Oct 23, 2024JefferiesBuyInitialise
Oct 22, 2024UBSBuyBuyHold
Oct 21, 2024StephensOverweightInitialise
Oct 16, 2024UBSBuyInitialise
Oct 03, 2024RBC CapitalBuyBuyHold
Oct 02, 2024BarclaysEqual-WeightEqual-WeightHold
Sep 05, 2024RBC CapitalBuyBuyHold
Sep 05, 2024CitigroupBuyBuyHold
Aug 21, 2024Bank of America SecuritiesNeutralBuyUpgrade
Aug 12, 2024RBC CapitalBuyBuyHold
Aug 02, 2024Cowen & Co.BuyInitialise
Jul 19, 2024RBC CapitalBuyBuyHold
Jun 12, 2024Stifel NicolausBuyBuyHold
Jun 12, 2024RBC CapitalOutperformOutperformHold
Apr 18, 2024Bank of America SecuritiesNeutralNeutralHold
Apr 12, 2024William BlairOutperformOutperformHold
Mar 06, 2024Stifel NicolausBuyBuyHold
Jan 23, 2024RBC CapitalBuyBuyHold
Sep 25, 2023Raymond JamesOutperformInitialise
Feb 24, 2023Bank of America SecuritiesNeutralBuyUpgrade
Nov 14, 2022Bank of America SecuritiesNeutralUpgrade

California Resources's last stock rating was published by Jefferies on Oct 23, 2024. The company Initialise its CRC rating from "null" to "Buy".

California Resources Financial Forecast

California Resources Revenue Forecast

Dec 27Sep 27Jun 27Mar 27Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Mar 19Mar 18
Revenue-----------------$460.00M$560.00M$982.00M$814.00M$882.00M$847.00M$715.00M$707.00M$713.00M$569.00M$576.00M$779.00M$647.00M
Avg Forecast$1.74B$1.71B$1.68B$1.65B$848.76M$879.60M$841.54M$841.81M$834.19M$866.66M$834.37M$864.28M$908.46M$973.13M$477.07M$490.21M$553.47M$524.16M$535.59M$713.48M$632.67M$579.76M$555.42M$486.66M$540.74M$484.10M$389.00M$393.00M$470.95M$2.61B
High Forecast$1.86B$1.82B$1.78B$1.75B$902.83M$935.63M$895.15M$895.43M$887.32M$921.86M$887.52M$913.49M$933.57M$974.00M$477.07M$490.21M$571.87M$525.06M$569.71M$758.93M$672.97M$579.76M$555.42M$486.66M$540.74M$484.10M$389.00M$393.00M$565.14M$3.13B
Low Forecast$1.57B$1.54B$1.51B$1.48B$765.37M$793.18M$758.86M$759.10M$752.23M$781.51M$752.39M$815.08M$883.36M$972.27M$477.07M$490.21M$535.07M$523.25M$482.97M$643.38M$570.51M$579.76M$555.42M$486.66M$540.74M$484.10M$389.00M$393.00M$376.76M$2.08B
# Analysts2222222211144211311111111110102014
Surprise %-----------------0.88%1.05%1.38%1.29%1.52%1.52%1.47%1.31%1.47%1.46%1.47%1.65%0.25%

California Resources's average Quarter revenue forecast for Dec 23 based on 3 analysts is $553.47M, with a low forecast of $535.07M, and a high forecast of $571.87M. CRC's average Quarter revenue forecast represents a 20.32% increase compared to the company's last Quarter revenue of $460.00M (Sep 23).

California Resources EBITDA Forecast

Dec 27Sep 27Jun 27Mar 27Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Mar 19Mar 18
# Analysts2222222211144211311111111110102014
EBITDA-----------------$27.00M$118.00M$344.00M$264.00M$347.00M$377.00M$369.00M$332.00M$171.00M$-44.00M$-29.00M$33.00M$90.00M
Avg Forecast$869.87M$853.04M$836.53M$820.34M$423.26M$438.64M$419.66M$419.80M$415.99M$432.19M$416.09M$431.00M$453.04M$485.29M$237.91M$-185.54M$276.01M$261.39M$267.09M$-168.68M$20.87M$138.31M$132.50M$-153.34M$129.00M$104.93M$92.80M$93.76M$102.91M$180.94M
High Forecast$925.28M$907.37M$889.81M$872.59M$450.22M$466.58M$446.40M$446.54M$442.49M$459.72M$442.59M$455.54M$465.56M$485.72M$237.91M$-148.43M$285.18M$261.84M$284.11M$-134.94M$25.05M$138.31M$132.50M$-122.67M$129.00M$125.92M$92.80M$93.76M$123.50M$217.12M
Low Forecast$784.41M$769.23M$754.34M$739.74M$381.68M$395.54M$378.43M$378.55M$375.12M$389.73M$375.21M$406.47M$440.52M$484.86M$237.91M$-222.65M$266.83M$260.94M$240.85M$-202.41M$16.70M$138.31M$132.50M$-184.01M$129.00M$83.95M$92.80M$93.76M$82.33M$144.75M
Surprise %-----------------0.10%0.44%-2.04%12.65%2.51%2.85%-2.41%2.57%1.63%-0.47%-0.31%0.32%0.50%

3 analysts predict CRC's average Quarter EBITDA for Dec 23 to be $276.01M, with a high of $285.18M and a low of $266.83M. This is 922.24% upper than California Resources's previous annual EBITDA (Sep 23) of $27.00M.

California Resources Net Income Forecast

Dec 27Sep 27Jun 27Mar 27Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Mar 19Mar 18
# Analysts2222222211144211311111111110102014
Net Income-----------------$-22.00M$97.00M$301.00M$83.00M$426.00M$190.00M$-175.00M$714.00M$103.00M$-111.00M$-94.00M$-67.00M$-2.00M
Avg Forecast$55.78M$53.00M$45.70M$64.53M$107.43M$123.76M$98.62M$100.06M$97.37M$111.40M$88.56M$103.64M$90.27M$114.51M$76.06M$-233.60M$90.44M$80.10M$67.25M$-212.36M$-58.27M$98.62M$132.18M$-193.06M$146.30M$63.20M$58.10M$85.40M$-208.95M$-4.02M
High Forecast$60.40M$57.38M$49.48M$69.88M$116.33M$134.01M$106.79M$108.35M$105.44M$120.63M$95.89M$112.22M$96.80M$123.99M$82.36M$-186.88M$108.35M$80.77M$72.82M$-169.89M$-46.62M$98.62M$132.18M$-154.44M$146.30M$75.85M$58.10M$85.40M$-167.16M$-3.22M
Low Forecast$48.65M$46.23M$39.86M$56.29M$93.71M$107.95M$86.02M$87.28M$84.94M$97.18M$77.25M$90.40M$82.66M$99.88M$66.35M$-280.32M$67.16M$79.43M$58.66M$-254.83M$-69.93M$98.62M$132.18M$-231.67M$146.30M$50.56M$58.10M$85.40M$-250.74M$-4.82M
Surprise %------------------0.27%1.44%-1.42%-1.42%4.32%1.44%0.91%4.88%1.63%-1.91%-1.10%0.32%0.50%

California Resources's average Quarter net income forecast for Sep 23 is $80.10M, with a range of $79.43M to $80.77M. CRC's average Quarter net income forecast represents a -17.42% decrease compared to the company's last Quarter net income of $97.00M (Jun 23).

California Resources SG&A Forecast

Dec 27Sep 27Jun 27Mar 27Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Mar 19Mar 18
# Analysts2222222211144211311111111110102014
SG&A-----------------$143.00M$71.00M$65.00M$59.00M$59.00M$56.00M$48.00M$53.00M$51.00M$48.00M$48.00M$282.00M$170.00M
Avg Forecast$176.29M$172.88M$169.54M$166.26M$85.78M$88.90M$85.05M$85.08M$84.31M$87.59M$84.33M$87.35M$91.82M$98.35M$48.22M$64.07M$55.94M$52.97M$54.13M$58.25M$159.17M$58.59M$56.13M$52.95M$54.65M$31.30M$39.32M$39.72M$47.60M$341.77M
High Forecast$187.52M$183.90M$180.34M$176.85M$91.25M$94.56M$90.47M$90.50M$89.68M$93.17M$89.70M$92.32M$94.35M$98.44M$48.22M$76.89M$57.80M$53.07M$57.58M$69.90M$191.00M$58.59M$56.13M$63.54M$54.65M$37.55M$39.32M$39.72M$57.12M$410.12M
Low Forecast$158.97M$155.90M$152.88M$149.92M$77.35M$80.16M$76.70M$76.72M$76.03M$78.98M$76.04M$82.38M$89.28M$98.26M$48.22M$51.26M$54.08M$52.88M$48.81M$46.60M$127.33M$58.59M$56.13M$42.36M$54.65M$25.04M$39.32M$39.72M$38.08M$273.41M
Surprise %-----------------2.70%1.31%1.12%0.37%1.01%1.00%0.91%0.97%1.63%1.22%1.21%5.92%0.50%

California Resources's average Quarter SG&A projection for Dec 23 is $55.94M, based on 3 Wall Street analysts, with a range of $54.08M to $57.80M. The forecast indicates a -60.88% fall compared to CRC last annual SG&A of $143.00M (Sep 23).

California Resources EPS Forecast

Dec 27Sep 27Jun 27Mar 27Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Mar 19Mar 18
# Analysts2222222211144211311111111110102014
EPS-----------------$-0.32$1.39$4.22$1.14$5.75$2.48$-2.23$8.91$1.26$-1.34$-1.13$-1.38$-0.05
Avg Forecast$0.61$0.58$0.50$0.71$1.18$1.36$1.08$1.10$1.07$1.22$0.97$1.14$0.99$1.26$0.83$0.71$0.99$0.88$0.74$2.02$1.45$1.41$1.89$1.31$2.09$1.46$0.83$1.22$-1.34$-1.55
High Forecast$0.66$0.63$0.54$0.77$1.28$1.47$1.17$1.19$1.16$1.32$1.05$1.23$1.06$1.36$0.90$0.71$1.19$0.89$0.80$2.19$1.57$1.41$1.89$1.37$2.09$1.46$0.83$1.22$-1.07$-1.24
Low Forecast$0.53$0.51$0.44$0.62$1.03$1.18$0.94$0.96$0.93$1.07$0.85$0.99$0.91$1.10$0.73$0.71$0.74$0.87$0.64$1.76$1.26$1.41$1.89$1.26$2.09$1.46$0.83$1.22$-1.61$-1.86
Surprise %------------------0.36%1.89%2.09%0.79%4.08%1.31%-1.70%4.26%0.86%-1.61%-0.93%1.03%0.03%

According to 1 Wall Street analysts, California Resources's projected average Quarter EPS for Sep 23 is $0.88, with a low estimate of $0.87 and a high estimate of $0.89. This represents a -36.82% decrease compared to CRC previous annual EPS of $1.39 (Jun 23).

California Resources Peer Comparison by Price Target

TickerCompanyLast Closing PriceAvg Price TargetUpside/DownsideAvg Rating
CIVICivitas Resources$44.99$82.1782.64%Buy
BRYBerry$4.15$7.0068.67%Hold
GPRKGeoPark$10.30$17.0065.05%Buy
CHRDChord Energy$115.09$189.2564.44%Buy
MTDRMatador Resources Company$55.69$74.6734.08%Buy
CRCCalifornia Resources$53.26$66.5024.86%Buy
MGYMagnolia Oil & Gas$24.24$29.0019.64%Buy
GPORGulfport Energy$174.48$176.751.30%Buy
CNXCNX Resources$36.54$20.00-45.27%Hold
CRKComstock Resources$16.09$8.67-46.12%Hold

CRC Forecast FAQ

Is California Resources a good buy?

Yes, according to 11 Wall Street analysts, California Resources (CRC) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 10 'Buy' recommendations, accounting for 90.91% of CRC's total ratings.

What is CRC's price target?

California Resources (CRC) average price target is $66.5 with a range of $64 to $73, implying a 31.53% from its last price of $50.56. The data is based on 11 Wall Street analysts who provided a twelve-month price target estimate in the last three months.

Will California Resources stock go up soon?

According to Wall Street analysts' prediction for CRC stock, the company can go up by 31.53% (from the last price of $50.56 to the average price target of $66.5), up by 44.38% based on the highest stock price target, and up by 26.58% based on the lowest stock price target.

Can California Resources stock reach $80?

CRC's average twelve months analyst stock price target of $66.5 does not support the claim that California Resources can reach $80 in the near future.

What are California Resources's analysts' financial forecasts?

California Resources's analysts financial forecasts for the fiscal year (Dec 2026) are as follows: average revenue is $3.41B (high $3.63B, low $3.08B), average EBITDA is $1.7B (high $1.81B, low $1.53B), average net income is $429.87M (high $465.47M, low $374.97M), average SG&A $344.81M (high $366.78M, low $310.93M), and average EPS is $4.71 (high $5.1, low $4.11). CRC's analysts financial forecasts for the fiscal year (Dec 2027) are as follows: average revenue is $6.78B (high $7.21B, low $6.11B), average EBITDA is $3.38B (high $3.6B, low $3.05B), average net income is $219.01M (high $237.14M, low $191.03M), average SG&A $684.97M (high $728.6M, low $617.67M), and average EPS is $2.4 (high $2.6, low $2.09).

Did the CRC's actual financial results beat the analysts' financial forecasts?

Based on California Resources's last annual report (Dec 2022), the company's revenue was $3.26B, beating the average analysts forecast of $2.25B by 44.51%. Apple's EBITDA was $1.31B, beating the average prediction of $138.35M by 845.45%. The company's net income was $524M, missing the average estimation of $-20.534M by -2651.92%. Apple's SG&A was $222M, missing the average forecast of $326.85M by -32.08%. Lastly, the company's EPS was $6.39, beating the average prediction of $6.06 by 5.42%. In terms of the last quarterly report (Sep 2023), California Resources's revenue was $460M, missing the average analysts' forecast of $524.16M by -12.24%. The company's EBITDA was $27M, missing the average prediction of $261.39M by -89.67%. California Resources's net income was $-22M, missing the average estimation of $80.1M by -127.47%. The company's SG&A was $143M, beating the average forecast of $52.97M by 169.94%. Lastly, the company's EPS was $-0.32, missing the average prediction of $0.878 by -136.44%