California Resources (US:CRC) ZACKS·2026-03-30 17:21Core Viewpoint - California Resources Corporation (CRC) shows potential as a strong investment opportunity due to significant revisions in earnings estimates, indicating an improving earnings outlook [1][10]. Estimate Revisions - The upward trend in earnings estimate revisions reflects increasing analyst optimism regarding CRC's earnings prospects, which is expected to positively influence its stock price [2]. - The current quarter's earnings estimate is $0.68 per share, representing a 36.5% decrease from the previous year, but the Zacks Consensus Estimate has increased by 233.2% over the last 30 days, with three estimates raised and no negative revisions [6]. - For the full year, the earnings estimate stands at $3.84 per share, showing a 6.6% decline from the year-ago figure [7]. - Over the past month, four estimates for the current year have been revised upward, leading to a 182.02% increase in the consensus estimate [8]. Zacks Rank - California Resources currently holds a Zacks Rank 1 (Strong Buy), indicating strong agreement among analysts in raising earnings estimates, which historically correlates with stock price outperformance [3][9]. - Stocks with a Zacks Rank 1 and 2 have shown significant outperformance compared to the S&P 500 [9]. Stock Performance - California Resources shares have appreciated by 17.1% over the past four weeks, suggesting investor confidence in the company's earnings growth prospects due to favorable estimate revisions [10].