California Resources

CRC

Oil & Gas Exploration & Production · Energy

Price

$52.83

+0.74 (+1.42%)

Market Cap

$4.69B

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+5.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 83.0M (2021) → 87.4M (2025)

California Resources Corporation is an oil and natural gas company that drills for and produces energy resources entirely within the state of California. It sells crude oil and natural gas to refineries, utilities, and industrial customers across the state. CRC is the largest oil and gas producer operating exclusively in California, making it unusual among U.S. energy companies for its single-state focus.

CRC earns money by selling the oil and natural gas it pulls out of the ground, with revenue tied directly to commodity prices. It operates across several major California basins, including the San Joaquin Valley, and generates roughly $2–3 billion in annual revenue. Its deep knowledge of California's geology and its existing permits give it an advantage over outside competitors, but the company faces significant risk from California's strict environmental regulations, which could limit future drilling permits and production growth over time.

Winston Score History

Politician Trades

2 trades / 12mo

1 Congressional buy and 1 sell on CRC in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-731.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

8.6%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~5 months

$40M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

California Resources has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

40.1%

Healthy — 40.1% gross margin

Operating Margin

22.2%

Excellent — 22.2% operating margin

ROCE

5.1%

Weak — 5.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+6.0%

Slow sales growth (6.0% YoY)

EPS YoY

-192.5%

Earnings shrinking (-192.5% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

11.0%

Modest free cash flow (11.0%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

0.45

Conservative — low debt load (0.45)

Interest Cover

6.78x

Adequate interest coverage (6.8x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend Yield

3.13%

Moderate income — 3.13% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+3.4%

Dividend growing modestly (3.4% YoY)

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