Hara Capital LLC Trims Position in California Resources Corporation (NYSE:CRC)

Hara Capital LLC cut its holdings in California Resources Corporation (NYSE:CRC - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,848 shares of the oil and gas producer's stock after selling 19,226 shares during the period. California Resources comprises approximately 2.8% of Hara Capital LLC's portfolio, making the stock its 7th biggest holding. Hara Capital LLC owned about 0.10% of California Resources worth $4,170,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in California Resources by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 9,345,789 shares of the oil and gas producer's stock valued at $484,953,000 after purchasing an additional 225,620 shares during the period. First Trust Advisors LP grew its holdings in California Resources by 14.2% during the fourth quarter. First Trust Advisors LP now owns 6,818,266 shares of the oil and gas producer's stock valued at $353,800,000 after purchasing an additional 845,694 shares during the period. American Century Companies Inc. lifted its position in shares of California Resources by 14.2% during the fourth quarter. American Century Companies Inc. now owns 2,327,712 shares of the oil and gas producer's stock worth $120,785,000 after acquiring an additional 290,263 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of California Resources by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,605,779 shares of the oil and gas producer's stock worth $83,344,000 after acquiring an additional 13,116 shares in the last quarter. Finally, Sourcerock Group LLC lifted its position in shares of California Resources by 6.5% during the fourth quarter. Sourcerock Group LLC now owns 1,084,947 shares of the oil and gas producer's stock worth $56,298,000 after acquiring an additional 65,981 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on CRC. Wall Street Zen downgraded California Resources from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Bank of America lowered their price objective on California Resources from $64.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Mizuho lowered their price objective on California Resources from $64.00 to $60.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Barclays upgraded California Resources from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $50.00 to $60.00 in a research report on Friday, May 30th. Finally, UBS Group increased their price objective on California Resources from $49.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, California Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.27.

California Resources Price Performance

NYSE CRC traded down $0.39 during trading hours on Friday, reaching $47.85. 803,638 shares of the stock traded hands, compared to its average volume of 839,742. The stock has a 50 day simple moving average of $44.36 and a two-hundred day simple moving average of $44.45. California Resources Corporation has a 1 year low of $30.97 and a 1 year high of $60.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.83 and a quick ratio of 0.74. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 8.68 and a beta of 1.16.

California Resources (NYSE:CRC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.24. California Resources had a return on equity of 11.45% and a net margin of 13.70%. The business had revenue of $912.00 million for the quarter, compared to the consensus estimate of $862.14 million. During the same quarter last year, the business posted $0.75 earnings per share. The company's revenue for the quarter was up 100.9% on a year-over-year basis. On average, analysts predict that California Resources Corporation will post 3.85 EPS for the current fiscal year.

California Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.3875 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.55 dividend on an annualized basis and a yield of 3.24%. California Resources's payout ratio is 28.13%.

California Resources Company Profile

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.