California Resources Corp. (CRC) Shares Up 10.9%
California Resources Corp. (NYSE:CRC) shot up 10.9% on Friday . The stock traded as high as $10.77 and last traded at $10.66, with a volume of 1,739,328 shares changing hands. The stock had previously closed at $9.61.
Separately, Zacks Investment Research lowered California Resources Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Five 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 has a 50 day moving average price of $11.31 and a 200-day moving average price of $13.44. The firm’s market cap is $428.26 million.
California Resources Corp. (NYSE:CRC) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.49) by $0.31. The company earned $317 million during the quarter, compared to analyst estimates of $437.47 million. California Resources Corp.’s revenue was down 50.4% on a year-over-year basis. Equities research analysts anticipate that California Resources Corp. will post ($6.30) 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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