Shares of California Resources Corp. (NYSE:CRC) traded down 3.2% on Tuesday . The stock traded as low as $13.12 and last traded at $13.21, with a volume of 617,778 shares traded. The stock had previously closed at $13.65.

Separately, Zacks Investment Research upgraded California Resources Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Four investment 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 market capitalization is $512.13 million. The firm’s 50 day moving average is $14.06 and its 200-day moving average is $13.83.

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 analysts’ consensus estimates of ($0.31) by $0.05. The firm had revenue of $322 million for the quarter, compared to the consensus estimate of $423.86 million. Analysts anticipate that California Resources Corp. will post ($5.61) EPS for the current fiscal year.

Other large investors recently added to or reduced their stakes in the company. Matarin Capital Management LLC bought a new stake in California Resources Corp. during the fourth quarter valued at $2,968,000. Marshall Wace LLP raised its stake in California Resources Corp. by 76.8% in the fourth quarter. Marshall Wace LLP now owns 2,571,849 shares of the company’s stock valued at $5,992,000 after buying an additional 1,116,822 shares in the last quarter. South Dakota Investment Council raised its stake in 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. California Public Employees Retirement System raised its stake 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 in the last quarter. Finally, Rhumbline Advisers raised its stake 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 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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