California Resources Hits New 12-Month High

Shares of the oil and gas producer reach a new 52-week peak, prompting questions about whether investors should buy in.

Mar. 11, 2026 at 9:34am

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Shares of California Resources Corporation (NYSE:CRC) reached a new 52-week high during mid-day trading on Monday, trading as high as $65.80 before closing at $65.73. The stock has seen a surge in recent months, with several equity research analysts upgrading their ratings and price targets on the company.

Why it matters

California Resources is a major oil and gas producer focused exclusively on operations in California. The company's strong stock performance reflects growing investor confidence in its ability to navigate the challenging energy market environment and capitalize on opportunities in the state.

The details

Several factors have contributed to California Resources' recent stock rally, including an upgrade to 'strong-buy' from TD Cowen, affirmation of a 'hold (c)' rating from Weiss Ratings, and increased price targets from Royal Bank of Canada and Wells Fargo & Company. The company also reported better-than-expected quarterly earnings in early March, though it missed the consensus estimate by a small margin.

  • California Resources' stock reached a new 52-week high of $65.80 during mid-day trading on Monday, March 11, 2026.
  • The company last traded at $65.73 on March 11, 2026.

The players

California Resources Corporation

An independent exploration and production company focused exclusively on developing oil and natural gas assets in California.

TD Cowen

An equity research firm that upgraded California Resources to a 'strong-buy' rating.

Weiss Ratings

An equity research firm that reaffirmed a 'hold (c)' rating on California Resources.

Royal Bank of Canada

An equity research firm that set a $70.00 price target on California Resources.

Wells Fargo & Company

An equity research firm that increased its price target on California Resources from $56.00 to $72.00 and maintained an 'overweight' rating.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee

The takeaway

California Resources' strong stock performance reflects growing investor confidence in the company's ability to navigate the challenging energy market and capitalize on opportunities in California. The stock's new 52-week high suggests the company is well-positioned for continued success, though investors should carefully consider the company's fundamentals and industry outlook before making investment decisions.