California Resources Corp. (CRC) Stock Price Up 6.2%
Shares of California Resources Corp. (NYSE:CRC) rose 6.2% during trading on Thursday . The company 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 price objective for the company in a research report on Tuesday, July 5th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $31.67.
The stock’s 50-day moving average is $11.95 and its 200 day moving average is $13.36. The firm’s market capitalization is $527.72 million.
California Resources Corp. (NYSE:CRC) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of ($1.49) by $0.31. The company earned $317 million during the quarter, compared to analyst estimates of $437.47 million. The firm’s quarterly revenue was down 50.4% compared to the same quarter last year. Equities research analysts anticipate that California Resources Corp. will post ($6.19) earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in California Resources Corp. stock. Matarin Capital Management LLC acquired a new stake in California Resources Corp. (NYSE:CRC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,273,779 shares of the company’s stock, valued at approximately $2,968,000. Matarin Capital Management LLC owned approximately 0.33% of California Resources Corp. as of its most recent filing with the SEC.
California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produces approximately 160 thousand barrels of oil equivalent per day (MBoe/d). It has net proved reserves of over 640 million barrels of oil equivalent (MMBoe).
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