California Resources Reports Strong 2025 Results, Raises Dividend, and Boosts Share Buyback Program by $430M
CRC sits 97% above its 52-week low of $30.97.
Summary
California Resources Corporation reported strong full-year 2025 financial results, including record free cash flow and adjusted EBITDAX, while increasing its annual dividend and significantly expanding its share repurchase program by $430 million.
Key Events · Earnings and Guidance · CRC
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Strong 2025 Financial Performance
The company reported full-year 2025 adjusted EBITDAX of $1,241 million and free cash flow of $543 million, both the highest since 2021. Net production increased by 25% year-over-year to 138 MBoe/d.
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Significant Share Repurchase Program Expansion
The Board of Directors approved a $430 million increase to the share repurchase program, raising the total authorization to $1.78 billion and extending it through December 31, 2027. $600 million of capacity remains under the program.
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Increased Dividend and Shareholder Returns
CRC increased its annual dividend by 5% to $1.62 per share, marking four consecutive years of dividend growth. In 2025, the company returned $513 million to shareholders through repurchases and dividends.
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Robust 2026 Production Guidance
The company is targeting approximately 12% year-over-year production growth in 2026, averaging 152–157 MBoe/d, supported by a four-rig drilling program and necessary permits.
Analysis · CRC · Energy & Transportation
California Resources Corporation delivered a landmark year in 2025 with robust financial and operating results, including the highest annual free cash flow and adjusted EBITDAX since 2021. The company's commitment to shareholder returns is evident through its fourth consecutive annual dividend increase and a substantial $430 million expansion of its share repurchase program, bringing the total capacity to $1.78 billion with $600 million remaining. This significant capital allocation decision, representing a material portion of the company's market value, signals strong management confidence and is likely to be viewed very positively by investors, especially as the stock trades near its 52-week high. The positive 2026 production guidance and continued progress on carbon management initiatives further strengthen the company's outlook.
At the time of this filing, CRC was trading at $61.01 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $5.3B. The 52-week trading range was $30.97 to $60.03. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.