Roth Capital reaffirms its “Buy” rating for NYSE:CRC, raising the price target from $46 to $48.
CRC’s Q1 cash flow per share (CFPS) of $2.76 exceeds consensus estimates, driven by improved production and reduced costs.
2025 and 2026 CFPS forecasts increased by 14% and 10%, respectively, indicating a strong financial outlook for CRC.
California Resources Corporation (NYSE:CRC) is a prominent player in the energy sector, focusing on oil and natural gas exploration and production. The company also has interests in electricity generation and carbon capture, which are becoming increasingly important in the energy transition. CRC competes with other energy companies in the region, striving to maintain a strong market position.
On May 7, 2025, Roth Capital reaffirmed its “Buy” rating for CRC, with the stock priced at $38.50. This decision reflects confidence in CRC’s performance and future prospects. Roth Capital also raised the price target from $46 to $48, indicating an optimistic outlook for the company’s growth and profitability.
CRC’s recent financial performance supports Roth Capital’s positive stance. The company reported a Q1 cash flow per share (CFPS) of $2.76, exceeding the consensus estimate of $2.50 by 11%. This outperformance is due to improved production, reduced costs, and increased earnings from its electricity business, as highlighted by Roth Capital.
Looking ahead, Roth Capital has increased its 2025 CFPS forecast for CRC by 14%, driven by lower costs, enhanced electricity margins, and increased share buybacks. The 2026 CFPS is also projected to rise by 10% due to continued cost reductions. These factors contribute to a strong financial outlook for CRC.
CRC’s stock is currently priced at $38.47, reflecting an increase of approximately 8.34% or $2.96. The stock has fluctuated between a low of $35.93 and a high of $38.57 today. With a market capitalization of approximately $3.49 billion and a trading volume of 1,941,740 shares, CRC remains a significant player in the energy sector.
