California Resources Corp. (NYSE:CRC) fell 5.8% on Wednesday . The stock traded as low as $9.74 and last traded at $9.78, with a volume of 1,623,032 shares. The stock had previously closed at $10.38.

Separately, Zacks Investment Research downgraded shares of California Resources Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $31.67.

The firm’s market capitalization is $420.86 million. The firm’s 50 day moving average price is $11.38 and its 200 day moving average price is $13.44.

California Resources Corp. (NYSE:CRC) last posted its earnings results on Thursday, August 4th. The company reported ($1.80) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.49) by $0.31. The business had revenue of $317 million for the quarter, compared to the consensus estimate of $437.47 million. The firm’s quarterly revenue 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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