UBS cuts target to USD 68 for California Resources stock
Published on 10/20/2026 at 20:20 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSTarget cut and earnings date
- UBS lowered its California Resources target from USD 73.00 to USD 68.00 on October 12, 2026.
- Second-quarter revenue reached USD 1.30 billion versus USD 973.60 million expected, while adjusted earnings per share were USD 0.99 versus USD 1.37 expected.
- California Resources stock costs EUR 48.42 at Lang & Schwarz on October 20, 2026 at 8:14 p.m. CEST.
- Third-quarter results are scheduled for November 2, 2026.
UBS lowered its price target for California Resources from USD 73.00 to USD 68.00 on October 12, 2026, while maintaining a Buy rating, according to MarketScreener. The target stands 25.14 percent above the NYSE price of USD 54.34 on October 20, 2026 at 2:19 p.m. EDT. California Resources stock was trading at EUR 48.42 at Lang & Schwarz on October 20, 2026 at 8:14 p.m. CEST.
Second-quarter earnings set the benchmark
California Resources reported USD 1.30 billion in second-quarter 2026 revenue, up from USD 119.00 million in the first quarter. The company also posted net income attributable to common shareholders of USD 514.00 million and diluted earnings per share of USD 5.76 for the second quarter.
Investing.com reported that second-quarter revenue exceeded the USD 973.60 million consensus estimate, while adjusted earnings per share of USD 0.99 fell short of the USD 1.37 expectation. That contrast gives investors two separate reference points before the next report.
Stock remains below its yearly high
On the NYSE, California Resources traded between USD 53.96 and USD 55.30 on October 20, 2026, with volume of 395,377 shares at the quoted time. Its 52-week range was USD 43.24 to USD 71.98, placing the stock USD 17.64 below the high and USD 11.10 above the low.
November 2 is the next date
California Resources operates oil and natural gas assets alongside its Carbon TerraVault carbon-management business. MarketScreener lists November 2, 2026 as the earnings-release date for third-quarter 2026 results, giving the next report a clear calendar marker. UBS cited production-sharing contract effects, lower oil realizations and higher gas and diesel costs when it reduced the target.
What the target cut changes
The UBS target reduction leaves a USD 13.66 spread between the NYSE price and the revised target, compared with USD 18.66 under the former target. The company enters the November report with second-quarter revenue above consensus but adjusted earnings per share below expectations.
Price and investor reference
California Resources had a market capitalization of USD 4.8 billion on October 20, 2026. The next scheduled earnings release is November 2, 2026, while the revised UBS target remains a dated valuation reference rather than a company forecast.
The further course of trading is shown by the continuously updated real-time quote of California Resources stock.
California Resources at a glance
- Company: California Resources Corporation
- ISIN: US13057Q3056
- Ticker: CRC
- Primary exchange: NYSE
- Price Lang & Schwarz (as of October 20, 2026, 8:14 p.m. CEST): EUR 48.42
- Market capitalization: USD 4.8 billion (as of October 20, 2026)
- 52-week range: USD 43.24-71.98 (as of October 20, 2026)
- Sector / Industry: Energy / Oil and Gas Exploration and Production
- Next earnings date: November 2, 2026
Market context: Market report S&P 500.
