California Resources Corp. (CRC) Stock Price Up 6.2%
California Resources Corp. (NYSE:CRC) rose 6.2% during trading on Thursday . The stock traded as high as $13.58 and last traded at $13.44, with a volume of 1,236,219 shares traded. The stock had previously closed at $12.66.
Separately, Zacks Investment Research upgraded 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $31.67.
The stock’s market capitalization is $556.70 million. The company’s 50-day moving average is $11.92 and its 200-day moving average is $13.34.
California Resources Corp. (NYSE:CRC) last released its quarterly earnings results on Thursday, August 4th. The company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.49) by $0.31. The business earned $317 million during the quarter, compared to the consensus estimate of $437.47 million. The company’s revenue for the quarter was down 50.4% on a year-over-year basis. On average, analysts predict that California Resources Corp. will post ($6.19) earnings per share for the current year.
Several hedge funds and institutional investors recently added to or reduced their stakes in the stock. Rhumbline Advisers raised 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 worth $1,122,000 after buying an additional 15,098 shares during the last quarter. Matarin Capital Management LLC bought a new position in California Resources Corp. during the fourth quarter worth about $2,968,000. Finally, Marshall Wace LLP raised 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 worth $5,992,000 after buying an additional 1,116,822 shares during the last quarter.
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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