California Resources Corp (NYSE:CRC) saw unusually-strong trading volume on Monday . Approximately 12,889,355 shares traded hands during trading, an increase of 444% from the previous session’s volume of 2,369,052 shares.The stock last traded at $16.31 and had previously closed at $11.82.

A number of analysts recently commented on CRC shares. Bank of America increased their price target on California Resources from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Zacks Investment Research raised California Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Imperial Capital decreased their target price on California Resources from $28.00 to $20.00 and set a “positive” rating for the company in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. California Resources currently has an average rating of “Hold” and an average target price of $28.57.

The stock has a 50-day simple moving average of $10.75 and a 200-day simple moving average of $18.49. The firm has a market capitalization of $669.59 million, a PE ratio of 11.03 and a beta of 4.49.

California Resources (NYSE:CRC) last released its earnings results on Thursday, August 1st. The oil and gas producer reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.57). The firm had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $674.43 million. California Resources had a negative return on equity of 23.66% and a net margin of 10.99%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.29) earnings per share. On average, analysts anticipate that California Resources Corp will post 0.71 earnings per share for the current year.

In other California Resources news, CEO Todd A. Stevens acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average price of $10.20 per share, with a total value of $51,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William E. Albrecht sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the sale, the director now owns 102,883 shares in the company, valued at approximately $2,057,660. The disclosure for this sale can be found here. Insiders have purchased 17,980 shares of company stock valued at $171,365 in the last three months. 3.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRC. Mraz Amerine & Associates Inc. increased its holdings in shares of California Resources by 1.2% in the first quarter. Mraz Amerine & Associates Inc. now owns 91,042 shares of the oil and gas producer’s stock worth $2,341,000 after buying an additional 1,075 shares during the period. Hanson McClain Inc. increased its holdings in California Resources by 60.2% during the 2nd quarter. Hanson McClain Inc. now owns 4,544 shares of the oil and gas producer’s stock valued at $89,000 after purchasing an additional 1,708 shares during the period. Swiss National Bank increased its holdings in California Resources by 2.3% during the 2nd quarter. Swiss National Bank now owns 85,989 shares of the oil and gas producer’s stock valued at $1,692,000 after purchasing an additional 1,900 shares during the period. NorthRock Partners LLC increased its holdings in California Resources by 14.3% during the 2nd quarter. NorthRock Partners LLC now owns 20,000 shares of the oil and gas producer’s stock valued at $394,000 after purchasing an additional 2,500 shares during the period. Finally, Point72 Hong Kong Ltd increased its holdings in California Resources by 232.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 6,744 shares of the oil and gas producer’s stock valued at $133,000 after purchasing an additional 4,718 shares during the period. Institutional investors and hedge funds own 61.12% 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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