California Resources Corp. (NYSE:CRC)’s share price rose 8.9% on Wednesday . The stock traded as high as $9.94 and last traded at $9.94, with a volume of 1,724,802 shares changing hands. The stock had previously closed at $9.13.

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

The company’s 50-day moving average is $12.54 and its 200 day moving average is $13.43. The firm’s market cap is $384.88 million.

California Resources Corp. (NYSE:CRC) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.05. The business earned $322 million during the quarter, compared to analyst estimates of $423.86 million. On average, analysts expect that California Resources Corp. will post ($5.93) earnings per share for the current fiscal year.

Other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its position 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 during the period. Rhumbline Advisers increased 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. California State Teachers Retirement System increased 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. Matarin Capital Management LLC purchased a new position in California Resources Corp. during the fourth quarter valued at $2,968,000. Finally, Nationwide Fund Advisors increased 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 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.