WTI crude oil prices and California crude differentials (ANS and Midway-Sunset pricing)
Production volumes from San Joaquin Basin fields and success of enhanced recovery projects
Natural gas prices impacting steam generation costs (inverse relationship to margins)
Progress on Elk Hills carbon capture project and monetization of LCFS/45Q credits
high - Oil prices are highly correlated with global GDP growth, industrial activity, and transportation demand. CRC's revenue moves directly with crude prices, though California's refinery market provides some insulation from global oversupply. Recessions typically compress oil demand by 2-5%, pressuring prices and margins. However, California's supply constraints can support local pricing during downturns.
Rising rates moderately impact CRC through higher borrowing costs on its $1.1B debt (Debt/Equity 0.32x suggests manageable leverage) and compression of E&P valuation multiples as investors rotate to fixed income. However, CRC's focus on free cash flow generation and potential for debt reduction mitigates refinancing risk. Rate increases also correlate with stronger economic activity supporting oil demand, partially offsetting valuation pressure.
California's aggressive decarbonization policies including potential bans on new drilling permits and stricter emissions regulations that could strand reserves or increase compliance costs significantly
Long-term oil demand erosion from electric vehicle adoption and renewable energy transition, particularly acute in California which leads US EV penetration
Mature field decline rates requiring continuous capital investment with diminishing returns as reservoirs deplete
value - CRC trades at depressed multiples (EV/EBITDA 4.7x, P/B 1.4x) reflecting California operational constraints and energy transition concerns, attracting value investors seeking free cash flow yield (6.9%) and potential re-rating if carbon capture projects succeed. The stock also appeals to energy specialists focused on California's supply-constrained market and contrarian investors betting on extended oil demand timelines. Recent 17.4% one-year return suggests momentum interest during oil price strength.
Trend
+7.5% vs SMA 50 · +30.0% vs SMA 200
Momentum
Strong accumulation on above-average volume. Buyers are absorbing supply aggressively — any positive catalyst could trigger a rapid covering move.
Based on volume distribution analysis. Direct short interest data (short float %, days to cover) is not available in current data sources.
Analyst consensus estimates · Actuals replace estimates as reported
| Year | Revenue Est. | Rev Gth | EPS Est. | EPS Gth | Range | Analysts |
|---|---|---|---|---|---|---|
FY2025 | $3.3B $3.2B–$3.5B | — | $4.12 | — | ±5% | High7 |
FY2026(current) | $3.9B $3.8B–$4.0B | ▲ +17.8% | $4.95 | ▲ +20.1% | ±28% | High7 |
FY2027 | $3.8B $3.7B–$3.8B | ▼ -4.5% | $4.28 | ▼ -13.4% | ±10% | High7 |
Dividend per payment — last 8 periods
NEW YORK, May 04, 2026 (GLOBE NEWSWIRE) -- Baird Equity Research titled its February 9, 2026 report…
california resources corporation (nyse: crc) is a publicly traded oil and natural gas exploration and production company and the largest oil and natural gas producer in california on a gross-operated basis. we operate our world-class resource base exclusively within the state of california, and use integrated infrastructure to gather, process and market our production. using advanced technology, crc’s workforce of more than 5,000 employees and contractors focuses on safely and responsibly supplying affordable energy for california by californians. crc provides “energy for california by californians.” california homes, farms, businesses and communities need ample, affordable and reliable energy, and crc’s dedicated workforce of more than 5,000 california employees and contractors develop dependable local crude oil and natural gas reserves that help to reduce our state’s chronic dependence on imported energy. investing in california crc is also an economic engine for california. in
| Symbol | Price | Day % | Mkt Cap↓ | P/E | Rev Grw | Margin | ELO |
|---|---|---|---|---|---|---|---|
CRC◀ | $69.17 | +0.16% | $6.1B | 16.4 | +2188.0% | 1007.2% | 1500 |
| $153.79 | -0.98% | $635.2B | 25.3 | -452.2% | 890.5% | 1497 | |
| $192.34 | -1.39% | $380.4B | 34.3 | -464.4% | 666.9% | 1490 | |
| $124.91 | -2.06% | $150.2B | 20.6 | +751.1% | 1360.5% | 1503 | |
| $75.41 | -1.01% | $92.4B | 35.3 | +1377.7% | 2190.8% | 1497 | |
| $55.63 | +0.07% | $85.1B | 25.8 | -159.8% | 938.1% | 1515 | |
| $141.61 | -1.15% | $74.4B | 15.0 | -346.9% | 2206.8% | 1500 | |
| Sector avg | — | -0.91% | — | 24.7 | +413.4% | 1323.0% | 1500 |