Shares of California Resources Corp. (NYSE:CRC) fell 5.7% during mid-day trading on Monday . The stock traded as low as $9.62 and last traded at $9.68, with a volume of 1,061,406 shares traded. The stock had previously closed at $10.26.

Separately, Zacks Investment Research lowered California Resources Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $31.67.

The firm’s 50 day moving average is $12.79 and its 200 day moving average is $13.51. The company’s market capitalization is $386.83 million.

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, beating the consensus estimate of ($0.31) by $0.05. The business had revenue of $322 million for the quarter, compared to the consensus estimate of $423.86 million. Analysts forecast that California Resources Corp. will post ($5.93) EPS for the current fiscal year.

A number of hedge funds have modified their holdings of the stock. Marshall Wace LLP increased its stake in shares of 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 during the period. California Public Employees Retirement System increased its stake 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. Matarin Capital Management LLC acquired a new stake in shares of California Resources Corp. during the fourth quarter valued at about $2,968,000. 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 during the period. Finally, 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 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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