California Resources (CRC) Price Target Raised to $67, ‘Neutral’ Rating Maintained

California Resources Corporation (NYSE:CRC) is included among the 14 Best Energy Stocks to Buy According to Wall Street Analysts.

California Resources Corporation (NYSE:CRC) operates as an independent energy and carbon management company in the United States. It operates in two segments, Oil and Natural Gas, and Carbon Management.

On March 18, Citi upped its price target on California Resources Corporation (NYSE:CRC) from $51 to $67, while maintaining a ‘Neutral’ rating on the shares. The bumped target, which indicates an upside of almost 5% from the current prices, comes as the analyst firm sees CRC as a ‘prime beneficiary’ of the soaring oil prices from the US-Iran war.

The war has led to Iran blocking off the Strait of Hormuz, which handles around a fifth of the global crude oil and LNG supply. Moreover, there have been several attacks on the region’s energy infrastructure from both sides, leading to further supply disruption that could even last for years.

The higher prices will help create a significant financial cushion for California Resources Corporation (NYSE:CRC) during the quarter. This comes after the company already generated $543 million in free cash flow in FY 2025, the highest level since 2021. CRC is also known for its strong commitment to shareholders and returned 94% of this FCF to them last year. The company currently boasts an annual dividend yield of 2.54% and was recently ranked in our list of the 14 Best Oil and Gas Dividend Stocks to Buy Right Now.

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