California Resources Corp. (NYSE:CRC) dropped 10.9% during trading on Monday . The company traded as low as $11.41 and last traded at $11.44, with a volume of 1,994,833 shares trading hands. The stock had previously closed at $12.84.

Separately, Zacks Investment Research upgraded California Resources Corp. from a “hold” rating to a “buy” rating and set a $15.00 price target 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 assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $31.67.

The company’s 50 day moving average price is $11.88 and its 200-day moving average price is $13.39. The company’s market cap is $459.50 million.

California Resources Corp. (NYSE:CRC) last released 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 business had revenue of $317 million for the quarter, compared to analyst estimates of $437.47 million. The firm’s quarterly revenue was down 50.4% on a year-over-year basis. Equities research analysts expect that California Resources Corp. will post ($6.19) earnings per share for the current fiscal year.

An institutional investor recently raised its position in California Resources Corp. stock. Rhumbline Advisers increased its stake in shares of California Resources Corp. (NYSE:CRC) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 481,558 shares of the company’s stock after buying an additional 15,098 shares during the period. Rhumbline Advisers owned approximately 0.12% of California Resources Corp. worth $1,122,000 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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