California Resources (CRC) Stock Forecast & Price Target

California Resources is viewed favorably because it combines a high-quality, low-decline conventional asset base with strong exposure to California’s highest-value markets and a growing carbon management platform. The September 1, 2026 Crimson Midstream acquisition adds roughly 2,000 miles of pipelines, improving control, local market access, and long-term stability, while the Golden Valley Tech Hub partnership with Beacon Data Centers expands optionality beyond traditional E&P. Its outlook is further supported by above-guided EBITDA expectations on a $75/bbl WTI and $4.00/Mcf HH framework, plus $15-20/share of incremental value from carbon sequestration, 45 MW solar, and a more de-risked California regulatory backdrop.

California Resources is facing a weaker fundamental setup as its NAV/share was reduced to $91 from $93 after the Uinta Basin divestiture, which also cut 2027 production and CFPS estimates to 150 MBoepd and $11.53 from 155 MBoepd and $12.64. The sale of non-core assets for $90MM was disappointing relative to prior assumptions, and the company still depends on constrained California drilling permits to offset a 10–15% base decline rate and maintain flat production. Its carbon management upside is also uncertain because CCS economics hinge on customer buildouts, subsidies, and regulatory approvals, while any oil price weakness would further pressure cash flow.