Here’s What Analysts Thinks About California Resources Corporation (CRC)

Company Overview - California Resources Corporation (NYSE:CRC) is identified as an undervalued stock with significant upside potential, focusing on oil and natural gas exploration, development, and production primarily in California's San Joaquin, Los Angeles, and Sacramento basins [1][4]. Analyst Ratings and Price Targets - Josh Silverstein from UBS reiterated a Buy rating on CRC but lowered the price target from $68 to $64 [1]. - Sam Margolin from Wells Fargo also reduced the price target from $58 to $56 while maintaining a Buy rating, indicating a conservative valuation with potential for upside [1][3]. Sector Outlook - Despite slight reductions in price targets, analysts remain optimistic about the energy sector, anticipating improvements in oil and natural gas outlooks by 2026, along with benefits from cost efficiencies, emerging opportunities in oilfield services (OFS), and enhanced value creation from mergers and acquisitions [2]. Development Opportunities - Margolin highlighted three potential development areas for CRC: resource delineation in exploration and production, a datacenter joint venture in the Power segment, and permits plus contracts for carbon capture, utilization, and storage [4].