Wells Fargo has initiated coverage on California Resources Corp (CRC) with an Overweight rating. This marks the firm's first assessment of the energy company's investment potential, reflecting its research on the business, industry dynamics, and growth prospects.
California Resources Corp, headquartered in Long Beach, California, operates as an independent energy and carbon management firm. The company, which employs 1,550 full-time staff, engages in energy transition through its segments: Oil and Natural Gas and Carbon Management. Its Carbon Management division, Carbon TerraVault, focuses on developing and maintaining carbon dioxide (CO2) equipment and storage facilities. The Oil and Natural Gas segment explores, develops, and produces crude oil, natural gas liquids, and natural gas across various basins, including the San Joaquin and Los Angeles Basins.
As of December 1, 2025, California Resources Corp's stock is priced at $47.74, with a market capitalization of $3.9 billion. The company boasts a P/E ratio of 5.81 and an impressive dividend yield of 351.2%. Upcoming earnings reports are scheduled for May 4, 2026, and August 3, 2026, with estimated EPS of $0.58 and $0.67, respectively.
Analyst ratings like this one provide insights based on extensive research and financial modeling. However, they should be considered alongside other factors, such as company fundamentals and market conditions, rather than as the sole basis for investment decisions. Ratings can evolve over time as new information emerges, highlighting the importance of ongoing analysis in investment strategies.