Hara Capital LLC Sells 37,265 Shares of California Resources Co. (NYSE:CRC)

Hara Capital LLC lessened its holdings in shares of California Resources Co. (NYSE:CRC) by 24.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,074 shares of the oil and gas producer’s stock after selling 37,265 shares during the period. California Resources makes up 3.7% of Hara Capital LLC’s holdings, making the stock its 4th biggest position. Hara Capital LLC owned approximately 0.13% of California Resources worth $5,919,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRC. R Squared Ltd acquired a new position in California Resources in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC grew its stake in shares of California Resources by 331.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 812 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of California Resources by 71.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer’s stock valued at $56,000 after purchasing an additional 454 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of California Resources by 52,366.7% in the 4th quarter. Lazard Asset Management LLC now owns 1,574 shares of the oil and gas producer’s stock valued at $81,000 after purchasing an additional 1,571 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of California Resources by 518.4% in the 4th quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer’s stock valued at $88,000 after purchasing an additional 1,410 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at California Resources

In related news, Director James N. Chapman bought 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the acquisition, the director now directly owns 43,445 shares in the company, valued at approximately $1,712,601.90. This trade represents a 4.83% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is owned by insiders.

California Resources Stock Performance

Shares of NYSE:CRC opened at $42.71 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.89. California Resources Co. has a 1 year low of $30.97 and a 1 year high of $60.41. The firm has a market capitalization of $3.81 billion, a PE ratio of 6.73, a P/E/G ratio of 1.02 and a beta of 1.06. The business’s 50 day moving average price is $38.90 and its 200-day moving average price is $46.80.

California Resources (NYSE:CRC) last announced its earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.24. The company had revenue of $912.00 million for the quarter, compared to analysts’ expectations of $862.14 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. The firm’s quarterly revenue was up 100.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. As a group, equities research analysts expect that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.3875 per share. The ex-dividend date is Friday, May 30th. This represents a $1.55 annualized dividend and a yield of 3.63%. California Resources’s dividend payout ratio is presently 28.13%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CRC shares. Roth Capital restated a “buy” rating on shares of California Resources in a research report on Wednesday, May 7th. Citigroup raised their target price on California Resources from $36.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, May 19th. UBS Group lifted their price target on California Resources from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Barclays increased their price target on California Resources from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Finally, Wall Street Zen lowered California Resources from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, California Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.36.

About California Resources

California Resources Corporation operates as an independent oil and natural gas exploration and production, and carbon management company in the United States. The company explores, produces, and markets crude oil, natural gas, and natural gas liquids for marketers, California refineries, and other purchasers that have access to transportation and storage facilities.