California Resources Co. (NYSE:CRC) is Hara Capital LLC’s 2nd Largest Position

Hara Capital LLC reduced its stake in California Resources Co. (NYSE:CRC) by 3.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,339 shares of the oil and gas producer’s stock after selling 4,940 shares during the quarter. California Resources comprises approximately 4.9% of Hara Capital LLC’s portfolio, making the stock its 2nd biggest holding. Hara Capital LLC’s holdings in California Resources were worth $7,941,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of California Resources by 61.5% during the third quarter. GAMMA Investing LLC now owns 974 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 371 shares in the last quarter. Farther Finance Advisors LLC boosted its position in California Resources by 9.4% during the third quarter. Farther Finance Advisors LLC now owns 3,224 shares of the oil and gas producer’s stock valued at $169,000 after buying an additional 276 shares during the period. Privium Fund Management B.V. bought a new position in shares of California Resources during the second quarter valued at about $258,000. DekaBank Deutsche Girozentrale increased its holdings in shares of California Resources by 44.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 5,026 shares of the oil and gas producer’s stock worth $259,000 after buying an additional 1,537 shares during the period. Finally, Hyperion Capital Advisors LP bought a new stake in shares of California Resources in the 1st quarter valued at about $275,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Insider Activity

In related news, VP Noelle M. Repetti sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.00, for a total transaction of $530,000.00. Following the completion of the transaction, the vice president now owns 17,301 shares of the company’s stock, valued at $916,953. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other California Resources news, VP Noelle M. Repetti sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.00, for a total transaction of $530,000.00. Following the completion of the sale, the vice president now directly owns 17,301 shares in the company, valued at approximately $916,953. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christian S. Kendall bought 20,895 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average price of $47.97 per share, for a total transaction of $1,002,333.15. Following the purchase, the director now owns 24,600 shares of the company’s stock, valued at approximately $1,180,062. This represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CRC. TD Cowen assumed coverage on California Resources in a research note on Friday, August 2nd. They issued a “buy” rating and a $65.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price target on shares of California Resources in a report on Monday, August 12th. Citigroup raised their price target on shares of 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 shares of California Resources in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price objective for the company. Finally, UBS Group initiated coverage on California Resources in a research note on Wednesday, October 16th. They issued a “buy” rating and a $68.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, California Resources has an average rating of “Moderate Buy” and an average price target of $65.50.

California Resources Stock Down 0.8 %

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

California Resources (NYSE:CRC) last announced its earnings results on Tuesday, November 5th. The oil and gas producer reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.62. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $973.13 million. California Resources had a net margin of 7.61% and a return on equity of 11.27%. The company’s quarterly revenue was up 194.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.02 EPS. Analysts anticipate that California Resources Co. will post 3.45 EPS for the current fiscal year.

California Resources Announces Dividend

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

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.