Citigroup Raises California Resources Price Target to $74

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Citigroup has increased its price target for California Resources (NYSE:CRC) from $67 to $74, maintaining a 'neutral' rating on the stock. The investment bank cited the oil and gas producer's strong performance and growth potential as reasons for the higher target price.

Why it matters

This price target increase from a major Wall Street firm suggests analysts see further upside for California Resources' stock. As an independent oil and gas company focused on California assets, the company's performance is closely watched by investors looking for exposure to the state's energy sector.

The details

In a research note, Citigroup analysts raised their price target on California Resources from $67 to $74 while keeping a 'neutral' rating on the stock. The analysts cited the company's solid operational and financial results as reasons for the higher target. Several other firms, including Royal Bank of Canada, UBS, and Barclays, have also recently increased their price targets and ratings on California Resources.

• Citigroup issued the updated price target and rating on March 30, 2026.

What’s next

Investors will be watching to see if California Resources' stock price continues to rise in response to the increased price target from Citigroup and other analysts.