California Resources Corp. (NYSE:CRC)’s share price fell 3.3% on Thursday . The stock traded as low as $11.63 and last traded at $11.74, with a volume of 1,144,648 shares. The stock had previously closed at $12.14.

Separately, Zacks Investment Research raised shares of California Resources Corp. from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $31.67.

The company’s 50 day moving average is $14.70 and its 200-day moving average is $14.31. The company’s market capitalization is $440.14 million.

California Resources Corp. (NYSE:CRC) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.05. The business earned $322 million during the quarter, compared to analyst estimates of $423.86 million. On average, analysts forecast that California Resources Corp. will post ($5.64) earnings per share for the current year.

A number of institutional investors have modified their holdings of CRC. Nationwide Fund Advisors raised its position in shares of California Resources Corp. by 1.4% in the fourth quarter. Nationwide Fund Advisors now owns 500,589 shares of the company’s stock valued at $1,166,000 after buying an additional 6,813 shares during the period. California State Teachers Retirement System raised its position in shares of California Resources Corp. by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 601,277 shares of the company’s stock valued at $1,401,000 after buying an additional 10,576 shares during the period. First Trust Advisors LP raised its position in shares of California Resources Corp. by 105.4% in the fourth quarter. First Trust Advisors LP now owns 2,898,960 shares of the company’s stock valued at $6,755,000 after buying an additional 1,487,387 shares during the period. Rhumbline Advisers raised its position in shares of California Resources Corp. by 3.2% in the fourth quarter. Rhumbline Advisers now owns 481,558 shares of the company’s stock valued at $1,122,000 after buying an additional 15,098 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of California Resources Corp. by 21.8% in the fourth quarter. California Public Employees Retirement System now owns 2,357,760 shares of the company’s stock valued at $5,494,000 after buying an additional 422,100 shares during the period.

California Resources Corporation (CRC) is an independent oil and natural gas exploration and production company, operating properties exclusively within the State of California. The Company has a mineral acreage consisting of approximately 2.4 million net acres spanning the state’s four oil and gas basins.

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