The share price of California Resources Corporation (NYSE:CRC) surged by 9.83% between September 9 and September 16, 2025, putting it among the Energy Stocks that Gained the Most This Week.
California Resources Corporation operates as an independent energy and carbon management company in the United States.
California Resources Corporation garnered widespread investor attention after it was recently announced that the company is set to acquire Berry Corporation in an all-stock transaction valued at around $717 million. CRC revealed that it expects to generate $80–90 million in annual synergies within a year of closing and maintain a leverage ratio below 1.0x.
Francisco Leon, President and CEO of California Resources Corporation, stated:
“The combination of CRC and Berry will create a stronger, more efficient California energy leader. This transaction is attractively valued and immediately accretive across key financial metrics, strengthening our ability to deliver sustainable value to shareholders”.
Following the announcement, Mizuho raised its price target for California Resources Corporation from $65 to $71, while keeping an ‘Outperform’ rating on its shares.
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