California Resources Corp. (NYSE:CRC) shares fell 4.1% during trading on Tuesday . The company traded as low as $12.68 and last traded at $12.80, with a volume of 1,702,820 shares traded. The stock had previously closed at $13.35.

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

The company’s market capitalization is $520.33 million. The company has a 50-day moving average price of $11.92 and a 200 day moving average price of $13.34.

California Resources Corp. (NYSE:CRC) last released its earnings results on Thursday, August 4th. The company reported ($1.80) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.49) by $0.31. The business earned $317 million during the quarter, compared to analysts’ expectations of $437.47 million. The company’s revenue for the quarter was down 50.4% on a year-over-year basis. Analysts anticipate that California Resources Corp. will post ($6.19) earnings per share for the current year.

A number of hedge funds have added to or reduced their stakes in CRC. 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 worth $1,122,000 after buying an additional 15,098 shares during the period. Matarin Capital Management LLC acquired a new stake in California Resources Corp. during the fourth quarter worth about $2,968,000. Finally, 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 worth $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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