California Resources Corp. (CRC) Stock Price Up 10.9%
Shares of California Resources Corp. (NYSE:CRC) rose 10.9% during trading on Friday . The company traded as high as $10.77 and last traded at $10.66, with a volume of 1,739,328 shares trading hands. The stock had previously closed at $9.61.
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 assigned a buy rating to the stock. California Resources Corp. currently has an average rating of “Hold” and a consensus price target of $31.67.
The firm has a 50-day moving average price of $11.38 and a 200-day moving average price of $13.44. The stock’s market capitalization is $428.26 million.
California Resources Corp. (NYSE:CRC) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($1.80) EPS for the quarter, missing the Zacks’ 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 company’s revenue for the quarter was down 50.4% compared to the same quarter last year. On average, analysts expect that California Resources Corp. will post ($6.23) earnings per share for the current year.
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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