Shares of California Resources Corp. (NYSE:CRC) traded up 8.9% during mid-day trading on Wednesday . The stock traded as high as $9.94 and last traded at $9.94, with a volume of 1,724,802 shares traded. The stock had previously closed at $9.13.

Separately, Zacks Investment Research lowered California Resources Corp. from a “buy” rating to a “strong sell” rating in a research note on Tuesday, May 3rd. Five investment analysts have rated the stock with a hold rating and two have given 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 $12.31 and its 200 day moving average is $13.38. The company’s market capitalization is $362.70 million.

California Resources Corp. (NYSE:CRC) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.49) by $0.31. The firm earned $317 million during the quarter, compared to analysts’ expectations of $437.47 million. The business’s quarterly revenue was down 50.4% on a year-over-year basis. Analysts forecast that California Resources Corp. will post ($5.93) EPS for the current fiscal year.

Several hedge funds and institutional investors recently bought and sold shares of the company. 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 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. 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 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. Finally, 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 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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