Wall Street Zen Downgrades California Resources Stock

Analysts lower rating from 'hold' to 'sell' on oil and gas producer's shares

Mar. 29, 2026 at 5:22am

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Wall Street Zen, an equity research firm, has downgraded shares of California Resources Corporation (NYSE: CRC) from a 'hold' rating to a 'sell' rating in a new research note. The move comes as several other analysts have adjusted their price targets and ratings on the oil and gas producer's stock in recent months.

Why it matters

California Resources is a major player in the California energy market, with operations focused on the state's key oil and gas basins. The downgrade from Wall Street Zen reflects broader uncertainty around the company's outlook and the challenges facing the broader energy sector.

The details

In their research note, analysts at Wall Street Zen cited concerns about California Resources' financial performance and growth prospects. The firm lowered its rating on the stock from 'hold' to 'sell', though it did not provide a specific price target. Other recent analyst actions on CRC include Wells Fargo raising its price target to $76 and maintaining an 'overweight' rating, while Pickering Energy Partners downgraded the stock to 'neutral'.

  • Wall Street Zen issued its downgrade on Sunday, March 28, 2026.
  • The research note comes after California Resources reported Q4 2025 earnings on March 2, 2026.

The players

California Resources Corporation

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

Wall Street Zen

An equity research firm that provides analysis and ratings on publicly traded companies.

Wells Fargo & Company

A major U.S. bank and financial services company that also provides equity research coverage.

Pickering Energy Partners

An energy-focused investment research and advisory firm.

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What’s next

Investors will be closely watching to see if other research firms follow Wall Street Zen's lead in downgrading California Resources. The company's next earnings report, scheduled for early June 2026, will also be a key catalyst for the stock.

The takeaway

The downgrade of California Resources by Wall Street Zen reflects the ongoing challenges facing oil and gas producers, even those focused on the relatively stable California market. The company's ability to navigate these headwinds will be crucial for its future performance.