California Resources Corp. (NYSE:CRC)’s share price dropped 10.9% during mid-day 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. 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 objective for the company in a 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. California Resources Corp. presently has an average rating of “Hold” and an average target price of $31.67.

The company’s market capitalization is $460.73 million. The firm’s 50 day moving average is $11.95 and its 200 day moving average is $13.36.

California Resources Corp. (NYSE:CRC) last announced its 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 company earned $317 million during the quarter, compared to the consensus estimate of $437.47 million. The company’s revenue was down 50.4% compared to the same quarter last year. On average, equities analysts predict that California Resources Corp. will post ($6.19) earnings per share for the current fiscal year.

A number of large investors have bought and sold shares of the stock. Schwab Charles Investment Management Inc. boosted its stake in California Resources Corp. by 26.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,180,683 shares of the company’s stock worth $2,751,000 after buying an additional 246,372 shares in the last quarter. Matarin Capital Management LLC purchased a new stake in shares of California Resources Corp. during the fourth quarter valued at about $2,968,000. Finally, Rhumbline Advisers boosted its stake in shares of California Resources Corp. by 3.2% in the fourth quarter. Rhumbline Advisers now owns 481,558 shares of the company’s stock valued at $1,122,000 after buying an additional 15,098 shares during the period.

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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