California Resources stock gained 1.49 percent after asset sale

Published on 10/05/2026 at 15:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

California Resources stock was last at USD 52.43 on October 2, with a USD 4.7 billion market capitalization. Second-quarter revenue reached USD 1.3 billion.

CRC, US13057Q3056, Illustration mit AI erstellt.

California Resources stock gained 1.49 percent to USD 52.43 on October 2, 2026, at 4:00 p.m. ET on the NYSE, as investors weighed the company's portfolio reshaping and quarterly figures. On September 17, 2026, California Resources announced an agreement to sell its Uinta Basin assets for USD 90 million in cash.

California Resources narrows its portfolio

The transaction has an effective date of July 1, 2026, and the company expects closing by the end of 2026, subject to customary conditions, according to California Resources. Management said the proceeds are intended for shareholder returns and other corporate purposes, while the sale concentrates capital on California operations.

The divestiture is small beside the company's market capitalization of USD 4.7 billion as of October 2, 2026, but it gives the portfolio a clearer geographic emphasis. The company also identifies carbon management as a strategic activity alongside oil and natural gas production.

Revenue rises while earnings lag forecasts

For the quarter ended June 30, 2026, revenue reached USD 1.3 billion and net income totaled USD 514 million, compared with USD 821 million and USD 172 million in the year-earlier period, respectively, as reported by Markets Insider. The revenue comparison represents growth of 58.3 percent, while net income increased by 198.8 percent.

The earnings picture was less uniform. MarketBeat reported quarterly EPS of USD 0.99 against a USD 1.36 consensus estimate, a miss of USD 0.37, despite revenue of USD 1.30 billion exceeding the stated USD 960.20 million forecast.

Analysts see upside beyond USD 52.43

Fourteen brokerages gave California Resources a Moderate Buy consensus and an average 12-month price target of USD 72.27, according to MarketBeat. The price target lies 37.8 percent above the October 2 price.

UBS analyst Josh Silverstein maintained a Buy rating and a USD 73.00 target on September 28, 2026, as reported by Markets Insider. That target lies 39.3 percent above the October 2 price, leaving the market's valuation sensitive to execution on asset sales and operating performance.

California Resources stock stays below its yearly high

California Resources stock was last at USD 52.43 on October 2, 2026, at 4:00 p.m. ET on the NYSE. Its 52-week range was USD 43.24 to USD 71.98, while trading volume reached 672,344 shares.