An issue of California Resources Corp (NYSE:CRC) debt fell 1.5% against its face value during trading on Wednesday. The high-yield debt issue has a 8% coupon and is set to mature on December 15, 2022. The bonds in the issue are now trading at $77.50 and were trading at $81.50 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.

Separately, Zacks Investment Research raised California Resources Corp from a “sell” rating to a “hold” rating in a report on Wednesday, January 25th.

California Resources Corp (NYSE:CRC) opened at 11.98 on Friday. The stock has a 50 day moving average price of $14.68 and a 200-day moving average price of $16.25. The company has a market capitalization of $509.65 million, a price-to-earnings ratio of 1.77 and a beta of 6.79. California Resources Corp has a 12-month low of $8.79 and a 12-month high of $25.50.

California Resources Corp (NYSE:CRC) last released its quarterly earnings data on Thursday, February 16th. The oil and gas producer reported ($1.76) EPS for the quarter, missing the consensus estimate of ($1.52) by $0.24. The business had revenue of $452 million for the quarter, compared to analyst estimates of $468.41 million. During the same period in the previous year, the business earned ($2.01) earnings per share. The firm’s revenue was down 20.1% on a year-over-year basis. Equities analysts predict that California Resources Corp will post ($2.76) EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Airain ltd bought a new position in California Resources Corp during the third quarter valued at approximately $167,000. Phoenix Investment Adviser LLC bought a new position in California Resources Corp during the third quarter valued at approximately $188,000. Wells Fargo & Company MN increased its position in California Resources Corp by 1.0% in the third quarter. Wells Fargo & Company MN now owns 16,812 shares of the oil and gas producer’s stock valued at $211,000 after buying an additional 164 shares during the period. OMERS ADMINISTRATION Corp bought a new position in California Resources Corp during the third quarter valued at approximately $251,000. Finally, Two Sigma Investments LP bought a new position in California Resources Corp during the fourth quarter valued at approximately $264,000. 82.30% of the stock is owned by institutional investors and hedge funds.

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California Resources Corp Company Profile

California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produced approximately 140 thousand barrels of oil equivalent per day (MBoe/d), as of December 31, 2016. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe).

5 Day Chart for NYSE:CRC

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