Dividend Declaration: California Resources Corporation (CRC) has declared a quarterly dividend of $0.388 per share, payable on March 21, with an ex-dividend date set for March 10. This could attract short-term investors looking to capture the dividend yield.
Carbon Management Initiatives: CRC's Carbon TerraVault has made significant progress in carbon management, including receiving EPA permits and planning a carbon capture project. This aligns with global decarbonization trends and could enhance the company's long-term value.
Financial Performance: CRC missed Q4 earnings estimates but provided a FY25 outlook. The company also announced a partial redemption of its senior notes, which may improve its debt structure.
Based on the analysis, CRC's stock price is expected to range between $38.00 and $44.00 next week. A breakout above the Fibonacci pivot could push the price towards $44.00, while failure to do so may lead to a drop towards $38.00.
Buy CRC with a target price of $44.00 and a stop-loss at $38.00. The oversold RSI and potential dividend-driven buying could support a short-term rebound.
The price of CRC is predicted to go up 0.43%, based on the high correlation periods with KBH. The similarity of these two price pattern on the periods is 97.6%.
CRC
KBH
Barclays
2025-03-05
Price Target
$57 → $55
Upside
+36.58%
Truist Securities
2025-01-13
Price Target
$75
Upside
+38.22%
JP Morgan
2024-12-20
Price Target
$63
Upside
+24.6%