Shares of California Resources Corp. (NYSE:CRC) fell 3.4% during trading on Wednesday . The stock traded as low as $13.62 and last traded at $14.30, with a volume of 1,386,553 shares. The stock had previously closed at $14.80.

Separately, Zacks Investment Research raised shares of California Resources Corp. from a “hold” rating to a “buy” rating and set a $17.50 target price for the company in a report on Tuesday, March 15th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $31.67.

The stock’s 50 day moving average price is $14.37 and its 200-day moving average price is $14.05. The firm’s market capitalization is $567.40 million.

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

Several hedge funds have recently made changes to their positions in CRC. Rhumbline Advisers increased its stake 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 in the last quarter. Nationwide Fund Advisors increased its stake 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 in the last quarter. California State Teachers Retirement System increased its stake 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 in the last quarter. South Dakota Investment Council increased its stake in shares of California Resources Corp. by 7.8% in the fourth quarter. South Dakota Investment Council now owns 950,000 shares of the company’s stock valued at $2,214,000 after buying an additional 69,000 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of California Resources Corp. by 3.2% in the fourth quarter. Morgan Stanley now owns 1,189,303 shares of the company’s stock valued at $2,771,000 after buying an additional 36,326 shares in the last quarter.

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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