Fintel reports that on May 20, 2026, Citigroup upgraded their outlook for California Resources (NYSE:CRC) from Neutral to Buy.
Analyst Price Forecast Suggests 31.17% Upside
As of May 14, 2026, the average one-year price target for California Resources is $81.94/share. The forecasts range from a low of $72.72 to a high of $92.40. The average price target represents an increase of 31.17% from its latest reported closing price of $62.47 / share.
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The projected annual revenue for California Resources is 3,300MM, a decrease of 4.73%. The projected annual non-GAAP EPS is 12.60.
What is the Fund Sentiment?
There are 366 funds or institutions reporting positions in California Resources. This is an decrease of 222 owner(s) or 37.76% in the last quarter. Average portfolio weight of all funds dedicated to CRC is 0.46%, an increase of 63.03%. Total shares owned by institutions decreased in the last three months by 6.16% to 101,898K shares. 
The put/call ratio of CRC is 0.67, indicating a bullish outlook.
What are Other Shareholders Doing?
Canada Pension Plan Investment Board holds 7,007K shares representing 7.89% ownership of the company. In its prior filing, the firm reported owning 10,507K shares , representing a decrease of 49.95%. The firm decreased its portfolio allocation in CRC by 0.43% over the last quarter.
Gimbel Daniel Scott holds 6,241K shares representing 7.03% ownership of the company. In its prior filing, the firm reported owning 6,242K shares , representing a decrease of 0.02%. The firm decreased its portfolio allocation in CRC by 1.11% over the last quarter.
Vanguard Portfolio Management holds 5,247K shares representing 5.91% ownership of the company.
Sourcerock Group holds 4,546K shares representing 5.12% ownership of the company. In its prior filing, the firm reported owning 4,275K shares , representing an increase of 5.96%. The firm increased its portfolio allocation in CRC by 18.96% over the last quarter.
Vanguard Capital Management holds 3,716K shares representing 4.19% ownership of the company.
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