California Resources Corp. (NYSE:CRC) was down 3.3% during mid-day trading on Thursday . The stock traded as low as $11.63 and last traded at $11.74, with a volume of 1,144,648 shares changing hands. 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 $17.50 price target on the stock in a report on Tuesday, March 15th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. California Resources Corp. has a consensus rating of “Hold” and a consensus price target of $31.67.

The company has a 50 day moving average of $14.49 and a 200-day moving average of $14.23. The firm’s market cap is $480.22 million.

California Resources Corp. (NYSE:CRC) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.26) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.05. The company earned $322 million during the quarter, compared to the consensus estimate of $423.86 million. Analysts predict that California Resources Corp. will post ($5.64) earnings per share for the current year.

Other hedge funds and institutional investors recently bought and sold shares of the company. Nationwide Fund Advisors boosted its position in 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 boosted its position in 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 boosted its position in 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 boosted its position in 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 boosted its position in 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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