California Resources Corp (NYSE:CRC)’s share price was up 8.2% during trading on Tuesday . The stock traded as high as $40.65 and last traded at $39.81. Approximately 1,876,883 shares traded hands during trading, a decline of 4% from the average daily volume of 1,946,224 shares. The stock had previously closed at $36.80.

Several equities analysts recently commented on CRC shares. Zacks Investment Research upgraded California Resources from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Friday, July 20th. ValuEngine downgraded California Resources from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 11th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. California Resources currently has an average rating of “Buy” and a consensus price target of $31.25.

The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of -7.87. The stock has a market cap of $1.82 billion, a PE ratio of -8.80 and a beta of 5.58.

California Resources (NYSE:CRC) last issued its quarterly earnings data on Thursday, August 2nd. The oil and gas producer reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.34). The business had revenue of $549.00 million during the quarter, compared to analysts’ expectations of $649.01 million. During the same period last year, the firm posted ($1.83) EPS. The business’s revenue was up 6.4% on a year-over-year basis. equities analysts expect that California Resources Corp will post -0.35 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. raised its position in California Resources by 4.7% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 38,067 shares of the oil and gas producer’s stock valued at $654,000 after purchasing an additional 1,707 shares during the last quarter. Great West Life Assurance Co. Can raised its position in California Resources by 76.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,771 shares of the oil and gas producer’s stock valued at $217,000 after purchasing an additional 2,061 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in California Resources by 27.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,806 shares of the oil and gas producer’s stock valued at $446,000 after purchasing an additional 2,114 shares during the last quarter. Swiss National Bank raised its position in California Resources by 4.7% in the 2nd quarter. Swiss National Bank now owns 70,989 shares of the oil and gas producer’s stock valued at $3,226,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Rhumbline Advisers raised its position in California Resources by 5.9% in the 2nd quarter. Rhumbline Advisers now owns 60,784 shares of the oil and gas producer’s stock valued at $2,762,000 after purchasing an additional 3,401 shares during the last quarter. Hedge funds and other institutional investors own 72.26% of the company’s stock.

About California Resources (NYSE:CRC)

California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. The company sells crude oil, natural gas, and natural gas liquids to marketers, California refineries, and other purchasers that have access to transportation and storage facilities.

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