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

Group 1: Company Overview - California Resources Corporation (NYSE:CRC) is recognized as one of the best affordable stocks to buy according to analysts [1] - The company focuses on oil and natural gas exploration, development, and production, primarily in California's San Joaquin, Los Angeles, and Sacramento basins [4] Group 2: Analyst Ratings and Price Targets - Emma Schwartz from Jefferies reiterated a Buy rating on CRC but lowered the price target from $71 to $68 [1] - Josh Silverstein from UBS also maintained a Buy rating while reducing the price target from $68 to $64 [1] Group 3: Industry Outlook - Analyst Silverstein anticipates that 2026 will be a better year for the energy sector after three years of limited gains, driven by improved natural gas and oil outlooks [2] - The expected improvement in 2026 is attributed to increased M&A value creation and capital expenditure efficiencies [2] Group 4: Recent Developments - On December 18, CRC announced the completion of its all-stock merger with Berry Corporation (NASDAQ:BRY), expanding its portfolio without using cash [3] - As part of the merger, former Berry equity holders received approximately 5.6 million shares of CRC common stock, valued at approximately $253 million based on CRC's closing share price on December 17, 2025 [4] - Management expects the combined entity to perform stronger in 2026 as a result of the merger [3]