California Resources' 15min chart sees Bollinger Bands Narrowing, Bearish Marubozu signal.

Based on the 15-minute chart for California Resources, the Bollinger Bands have narrowed, indicating a decrease in the magnitude of stock price fluctuations. This, coupled with the presence of a bearish Marubozu, suggests that sellers are currently in control of the market. As a result, it is likely that the bearish momentum will continue.

Title: California Resources Corp: Stock Price Target Raised; Share Repurchase Program Extended

BofA Global Research has recently raised the price target on California Resources Corp (CRC) to $60, up from $53, and maintained a "buy" rating [1]. This represents a significant 20% upside to the stock's last close. The brokerage attributes this move to the California Energy Commission's decision to defer new profits caps on refineries by five years, indicating support for pro-oil and gas policies [1].

Operational Performance and Share Repurchase

In its latest quarterly presentation, CRC reported robust operational and financial performance [2]. The company repurchased $228 million of shares in a private deal at $46 per share and an additional $24 million in the open market at an average of $43.41 per share. This brings the total repurchased shares to $252 million, with $205 million remaining under the authorized share repurchase program, which has been extended through June 30, 2026 [2].

Technical Indicators

Analyzing the 15-minute chart for CRC, the Bollinger Bands have narrowed, indicating a decrease in the magnitude of stock price fluctuations. This trend, coupled with the presence of a bearish Marubozu, suggests that sellers are currently in control of the market. As a result, it is likely that the bearish momentum will continue.

Market Sentiment and Analyst Ratings

As of the last close, CRC's stock was down approximately 4% year-to-date. Twelve out of 13 brokerages rate the stock "buy" or higher, with a median price target of $60.50 [1]. This positive sentiment, along with the recent operational and financial achievements, provides a strong foundation for CRC's stock performance.

References:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_L4N3UQ0OX:0-bofa-global-research-raises-price-target-on-california-resources/
[2] https://www.marketscreener.com/news/california-resources-crc-september-2025-presentation-36ad63-ce7d59dbda8aff22