Hara Capital LLC Decreases Stock Position in California Resources Co. (NYSE:CRC)

Hara Capital LLC decreased its stake in shares of California Resources Co. (NYSE:CRC - Free Report) by 24.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,074 shares of the oil and gas producer's stock after selling 37,265 shares during the quarter. California Resources comprises about 3.7% of Hara Capital LLC's portfolio, making the stock its 4th biggest holding. Hara Capital LLC owned about 0.13% of California Resources worth $5,919,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. R Squared Ltd acquired a new position in shares of California Resources during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC increased its holdings 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 acquiring an additional 812 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in California Resources by 71.6% in 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 buying an additional 454 shares in the last quarter. Lazard Asset Management LLC grew its holdings in 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 buying an additional 1,571 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in 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 buying an additional 1,410 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CRC shares. Barclays raised California Resources from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $50.00 to $60.00 in a report on Friday. Roth Capital reaffirmed a "buy" rating on shares of California Resources in a report on Wednesday, May 7th. Wall Street Zen lowered California Resources from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Mizuho decreased their price objective on California Resources from $64.00 to $60.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, Royal Bank of Canada decreased their price objective on California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Three investment 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. According to data from MarketBeat.com, California Resources has a consensus rating of "Moderate Buy" and a consensus target price of $61.27.

California Resources Stock Performance

California Resources stock traded up $1.51 during mid-day trading on Friday, reaching $44.20. 1,852,282 shares of the company's stock were exchanged, compared to its average volume of 873,014. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. The business's fifty day simple moving average is $38.84 and its 200 day simple moving average is $46.39. California Resources Co. has a one year low of $30.97 and a one year high of $60.41. The firm has a market capitalization of $3.94 billion, a PE ratio of 6.96, a P/E/G ratio of 1.02 and a beta of 1.06.

California Resources (NYSE:CRC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas producer reported $1.07 EPS for the quarter, topping the consensus estimate of $0.83 by $0.24. California Resources had a return on equity of 12.16% and a net margin of 17.43%. The business had revenue of $912.00 million during the quarter, compared to analysts' expectations of $862.14 million. During the same period in the previous year, the business earned $0.75 earnings per share. The firm's revenue was up 100.9% on a year-over-year basis. On average, sell-side analysts expect that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Friday, May 30th. California Resources's payout ratio is 28.13%.

Insider Buying and Selling at California Resources

In related news, Director James N. Chapman purchased 2,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $39.42 per share, for a total transaction of $78,840.00. Following the purchase, the director now directly owns 43,445 shares of the company's stock, valued at approximately $1,712,601.90. This represents a 4.83% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is currently owned by corporate insiders.

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.