Hara Capital LLC Sells 4,940 Shares of California Resources Co. (NYSE:CRC)

Hara Capital LLC lessened its position in shares of California Resources Co. (NYSE:CRC) by 3.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 151,339 shares of the oil and gas producer’s stock after selling 4,940 shares during the quarter. California Resources makes up approximately 4.9% of Hara Capital LLC’s investment portfolio, making the stock its 2nd largest holding. Hara Capital LLC owned approximately 0.22% of California Resources worth $7,941,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank lifted its stake in shares of California Resources by 3.1% in the 3rd quarter. Amalgamated Bank now owns 20,406 shares of the oil and gas producer’s stock valued at $1,071,000 after purchasing an additional 605 shares during the period. Private Management Group Inc. lifted its stake in California Resources by 0.3% in the third quarter. Private Management Group Inc. now owns 796,610 shares of the oil and gas producer’s stock valued at $41,798,000 after buying an additional 2,651 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of California Resources by 9.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock worth $169,000 after buying an additional 276 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of California Resources by 5.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 39,705 shares of the oil and gas producer’s stock worth $2,083,000 after buying an additional 2,029 shares in the last quarter. Finally, Clear Harbor Asset Management LLC grew its position in shares of California Resources by 85.5% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 7,050 shares of the oil and gas producer’s stock worth $370,000 after buying an additional 3,250 shares during the period. Institutional investors own 97.79% of the company’s stock.

California Resources Stock Performance

NYSE:CRC traded down $0.43 during trading on Thursday, reaching $56.42. The company’s stock had a trading volume of 94,306 shares, compared to its average volume of 851,809. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 1.28 and a beta of 0.98. California Resources Co. has a 12 month low of $43.09 and a 12 month high of $60.41. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.43. The firm has a 50 day moving average of $51.88 and a 200-day moving average of $50.72.

California Resources (NYSE:CRC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.62. California Resources had a net margin of 7.61% and a return on equity of 11.27%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $973.13 million. During the same quarter last year, the company posted $1.02 earnings per share. The firm’s quarterly revenue was up 194.1% compared to the same quarter last year. Research analysts expect that California Resources Co. will post 3.45 EPS for the current fiscal year.

California Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Monday, December 2nd. California Resources’s dividend payout ratio is currently 68.89%.

Insider Buying and Selling at California Resources

In other news, Director Christian S. Kendall acquired 20,895 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of $47.97 per share, with a total value of $1,002,333.15. Following the acquisition, the director now owns 24,600 shares in the company, valued at $1,180,062. The trade was a 500.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Francisco Leon sold 7,500 shares of California Resources stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $49.18, for a total value of $368,850.00. Following the completion of the transaction, the chief executive officer now directly owns 166,357 shares in the company, valued at approximately $8,181,437.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christian S. Kendall purchased 20,895 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $47.97 per share, for a total transaction of $1,002,333.15. Following the completion of the transaction, the director now owns 24,600 shares of the company’s stock, valued at approximately $1,180,062. This trade represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

CRC has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 target price on shares of California Resources in a research note on Monday, August 12th. Bank of America upgraded California Resources from a “neutral” rating to a “buy” rating and raised their target price for the company from $57.00 to $65.00 in a research note on Wednesday, August 21st. Citigroup increased their price target on California Resources from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. Stephens began coverage on California Resources in a report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on California Resources in a report on Thursday, October 24th. They issued a “buy” rating and a $64.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

California Resources 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.