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California Resources Corp ( (CRC) ) just unveiled an announcement.
On March 23, 2026, California Resources Corporation completed an upsized private offering of an additional $350 million of 7.000% senior unsecured notes due 2034, which form a single series with the $400 million of existing 2034 notes. The new notes, guaranteed on a senior unsecured basis by key subsidiaries, carry semi-annual interest payments starting July 15, 2026, and include customary covenants, redemption options and change-of-control protections.
The company plans to use the net proceeds, along with cash on hand or borrowings under its revolving credit facility, to redeem $350 million of its higher-coupon 8.250% senior unsecured notes due 2029, with the redemption expected to close on March 24, 2026. This refinancing is set to extend the company’s debt maturity profile and lower its interest burden, potentially improving its capital structure and financial flexibility for stakeholders.
The most recent analyst rating on (CRC) stock is a Buy with a $86.00 price target. To see the full list of analyst forecasts on California Resources Corp stock, see the CRC Stock Forecast page.
Spark’s Take on CRC Stock
According to Spark, TipRanks’ AI Analyst, CRC is a Outperform.
CRC’s score is driven primarily by improved financial resilience (notably stronger leverage metrics) and strong recent cash generation, complemented by bullish price momentum with the stock trading above key moving averages. Valuation is supportive with a low-teens P/E and a ~2.5% dividend yield. The main constraints on the score are profitability/margin compression and execution/regulatory risks highlighted in guidance (permitting and CCS approvals), with hedging limiting upside if oil prices rise.
To see Spark’s full report on CRC stock, click here.
More about California Resources Corp
California Resources Corporation is an independent energy company focused on the exploration and production of oil and natural gas. The company operates primarily in California, where it develops and manages hydrocarbon reserves and related assets to supply energy to regional and broader U.S. markets.
Average Trading Volume: 951,492
Technical Sentiment Signal: Buy
Current Market Cap: $5.63B
See more insights into CRC stock on TipRanks’ Stock Analysis page.