California Resources (CRC) Price Target Raised to $67, ‘Neutral’ Rating Maintained

Group 1 - California Resources Corporation (CRC) is recognized as one of the 14 Best Energy Stocks to Buy according to Wall Street Analysts [1] - CRC operates as an independent energy and carbon management company in the United States, with two segments: Oil and Natural Gas, and Carbon Management [2] - Citi raised its price target for CRC from $51 to $67, indicating an upside of nearly 5% from current prices, as CRC is seen as a 'prime beneficiary' of rising oil prices due to the US-Iran war [3] Group 2 - The US-Iran war has resulted in Iran blocking the Strait of Hormuz, which is crucial for global crude oil and LNG supply, leading to significant supply disruptions [4] - Higher oil prices are expected to provide a substantial financial cushion for CRC, which generated $543 million in free cash flow in FY 2025, the highest since 2021, and returned 94% of this FCF to shareholders [5] - CRC currently has an annual dividend yield of 2.54% and is listed among the 14 Best Oil and Gas Dividend Stocks to Buy [5]