An issue of California Resources Corporation (NYSE:CRC) bonds rose 1.1% against their face value during trading on Thursday. The debt issue has a 8% coupon and is set to mature on December 15, 2022. The debt is now trading at $74.06 and was trading at $69.75 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its share price.

Several equities analysts have commented on the company. Zacks Investment Research raised California Resources Corporation from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, November 9th. Societe Generale raised California Resources Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Imperial Capital raised their price objective on California Resources Corporation from $12.00 to $18.00 and gave the company an “in-line” rating in a research report on Wednesday, November 8th. Morgan Stanley raised California Resources Corporation from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective for the company in a research report on Tuesday, November 7th. Finally, ValuEngine lowered California Resources Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, October 6th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. California Resources Corporation has an average rating of “Hold” and a consensus target price of $14.25.

Shares of California Resources Corporation (NYSE:CRC) traded up $0.47 during trading hours on Thursday, hitting $14.99. The stock had a trading volume of 2,089,300 shares, compared to its average volume of 1,786,791. California Resources Corporation has a 1 year low of $6.47 and a 1 year high of $23.42. The company has a quick ratio of 0.53, a current ratio of 0.61 and a debt-to-equity ratio of -8.78.

California Resources Corporation (NYSE:CRC) last issued its quarterly earnings results on Monday, November 6th. The oil and gas producer reported ($1.22) earnings per share for the quarter, beating the consensus estimate of ($1.61) by $0.39. The company had revenue of $455.00 million for the quarter, compared to the consensus estimate of $476.87 million. During the same quarter in the previous year, the business earned ($1.75) earnings per share. California Resources Corporation’s revenue was down .2% compared to the same quarter last year. sell-side analysts predict that California Resources Corporation will post -4.72 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its holdings in California Resources Corporation by 193.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,103,278 shares of the oil and gas producer’s stock worth $9,434,000 after buying an additional 727,264 shares in the last quarter. State Street Corp increased its holdings in California Resources Corporation by 23.1% in the 2nd quarter. State Street Corp now owns 3,588,170 shares of the oil and gas producer’s stock worth $30,673,000 after buying an additional 672,825 shares in the last quarter. Restructuring Capital Associates LP increased its holdings in California Resources Corporation by 39.5% in the 3rd quarter. Restructuring Capital Associates LP now owns 1,730,838 shares of the oil and gas producer’s stock worth $18,105,000 after buying an additional 490,408 shares in the last quarter. Capital Fund Management S.A. bought a new stake in California Resources Corporation in the 2nd quarter worth about $3,642,000. Finally, Commerzbank Aktiengesellschaft FI increased its holdings in California Resources Corporation by 137.3% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 512,168 shares of the oil and gas producer’s stock worth $5,357,000 after buying an additional 296,361 shares in the last quarter. Hedge funds and other institutional investors own 74.40% of the company’s stock.

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About California Resources Corporation

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).

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