California Resources Corporation (CRC) Stock

California Resources Corporation (CRC) is a Energy stock trading at $53.45 (as of 2026-08-20), with a market capitalization of $4.75B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

California Resources Corporation is an independent oil and natural gas operator that explores for, produces, gathers, processes, and markets crude oil, natural gas, and natural gas liquids. It also generates and sells electricity, serving marketers, California refineries, and other purchasers with access to transportation and storage, as well as the local utility and the grid.

Understand California Resources Corporation: how it makes money

California Resources Corporation explores for, produces, gathers, processes, and markets crude oil, natural gas, and natural gas liquids, and it also generates and sells electricity, earning money from commodity sales and from electricity sales to the local utility and the grid.

Profit is driven by selling the company’s produced crude oil, natural gas, and natural gas liquids, and by selling electricity generated to the local utility and the grid, making results sensitive to the market conditions faced by those sales streams (including the need for access to transportation and storage facilities for purchasers).

Business quality (Weak): Business model is understandable (oil and gas production plus electricity generation), but the latest quarter shows a sharply negative operating margin, so investors should focus on whether commodity and power-related revenues can cover operating costs, while also weighing market and operational risks tied to producing and marketing energy commodities.

Bull case

Diversified revenue streams within energy: The company sells both produced crude oil, natural gas, and natural gas liquids, and it also generates and sells electricity.
Integrated path from production to marketing: It explores for, produces, gathers, processes, and markets commodities, which can support end-to-end monetization of production.

Bear case

Heavy operating cost pressure can overwhelm revenues: For the period ended 2026-03-31, operating_margin_pct is -597.5, indicating losses at the operating level in the latest quarter.
Marketing and sales are exposed to market access and pricing conditions: The company markets commodities to purchasers that have access to transportation and storage facilities, so realized results can be affected by external market conditions and access constraints.

Valuation — source: SEC EDGAR (first-party)
Price	$53.45
Market Cap	$4.75B
EV / EBITDA	12.8
Price / Book	1.40
Price / Sales	1.49
FCF Yield	5.0%
DCF Value (model)	$61.23
DCF Upside vs Price	14.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$3.67B
Net Margin	9.9%
Revenue Growth (YoY)	32.6%
EPS Growth (YoY)	200.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	1.87 (grey)

Valuation vs Sector & Industry
Sector P/E (Energy)	16.8
Industry P/E (Petroleum & Natural Gas)	16.7

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($856.40M)
Institutional Holders Tracked	10

Company
Sector	Energy
Industry	Petroleum & Natural Gas
CEO	Francisco J. Leon
Employees	1,550
Country	US
IPO Date	2020-10-28

Related Companies (Business model: Exploration & Production (Upstream Oil & Gas); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.