Jay A. Bys, Executive Vice President & Chief Commercial Officer at California Resources Corp (NASDAQ:CRC), sold shares of the company’s common stock on July 13, 2026.
Mr. Bys disposed of 11,907 shares at a price of $54.0 per share, totaling $642,978. Following this transaction, Mr. Bys directly holds 159,424 shares of California Resources Corp common stock. The sale price of $54.0 came above the current stock price of $52.32, while InvestingPro analysis suggests the stock remains undervalued based on its Fair Value assessment. According to an InvestingPro Tip, the company has raised its dividend for 5 consecutive years, currently yielding 3.1%. Investors seeking deeper insights can access 6 additional ProTips and comprehensive Pro Research Reports covering CRC and 1,400+ other US equities.
The sale was executed automatically pursuant to a Rule 10b5-1 trading plan, which Mr. Bys adopted on March 5, 2026.
In other recent news, California Resources Corporation announced the pricing of $550 million in senior unsecured notes due 2035 at a 7.25% interest rate. These notes are guaranteed by the company’s existing subsidiaries, and the offering is anticipated to close on June 26, 2026, subject to customary conditions. Additionally, California Resources has begun injecting carbon dioxide at its Carbon TerraVault I, marking the first operational carbon capture and storage project in California. The facility captures CO2 from the company’s gas plant and stores it underground in depleted reservoirs.
UBS has reiterated a Buy rating on California Resources stock, setting a price target of $78. However, UBS recently lowered its price target from $82 to $78, citing impacts on first-quarter 2026 earnings and full-year 2026 estimates due to production sharing contracts and hedging. The investor meetings with company executives covered topics such as upstream growth and carbon capture opportunities. These developments highlight ongoing activities and strategic moves by California Resources in the energy sector.
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