California Resources Corp. (NYSE:CRC)’s share price was down 9% during trading on Monday . The stock traded as low as $10.39 and last traded at $10.49, with a volume of 2,171,345 shares changing hands. The stock had previously closed at $11.53.

Separately, Zacks Investment Research upgraded California Resources Corp. from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Tuesday, July 5th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $31.67.

The stock’s market cap is $390.33 million. The company has a 50 day moving average price of $13.50 and a 200-day moving average price of $13.60.

California Resources Corp. (NYSE:CRC) last issued its earnings results on Thursday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.05. The firm earned $322 million during the quarter, compared to analysts’ expectations of $423.86 million. Analysts anticipate that California Resources Corp. will post ($5.93) EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of CRC. 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 worth $1,122,000 after buying an additional 15,098 shares during the period. 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, Matarin Capital Management LLC bought a new stake in shares of California Resources Corp. during the fourth quarter valued at $2,968,000.

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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