California Resources Co. (NYSE:CRC) is Hara Capital LLC’s 3rd Largest Position

Hara Capital LLC trimmed its position in shares of California Resources Co. (NYSE:CRC) by 24.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,074 shares of the oil and gas producer’s stock after selling 37,265 shares during the period. California Resources accounts for 3.8% of Hara Capital LLC’s investment portfolio, making the stock its 3rd biggest holding. Hara Capital LLC’s holdings in California Resources were worth $5,919,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Creative Planning increased its holdings in shares of California Resources by 57.0% in the 3rd quarter. Creative Planning now owns 20,743 shares of the oil and gas producer’s stock valued at $1,088,000 after purchasing an additional 7,533 shares during the period. Everence Capital Management Inc. acquired a new position in California Resources in the 3rd quarter valued at approximately $574,000. Louisiana State Employees Retirement System lifted its position in California Resources by 4.0% in the 3rd quarter. Louisiana State Employees Retirement System now owns 33,600 shares of the oil and gas producer’s stock worth $1,763,000 after buying an additional 1,300 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of California Resources by 44.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,026 shares of the oil and gas producer’s stock valued at $259,000 after buying an additional 1,537 shares during the period. Finally, Clear Harbor Asset Management LLC grew its holdings 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 valued at $370,000 after acquiring an additional 3,250 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at California Resources

In other news, EVP Omar Hayat sold 16,016 shares of California Resources stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $55.18, for a total transaction of $883,762.88. Following the transaction, the executive vice president now directly owns 30,940 shares of the company’s stock, valued at $1,707,269.20. This trade represents a 34.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

California Resources Stock Up 4.3 %

Shares of California Resources stock opened at $48.30 on Tuesday. California Resources Co. has a 12 month low of $43.09 and a 12 month high of $60.41. The business has a fifty day simple moving average of $51.48 and a 200 day simple moving average of $52.29. 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 stock has a market cap of $4.41 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 0.98 and a beta of 1.04.

Wall Street Analyst Weigh In

CRC has been the subject of a number of research reports. Stephens began coverage on California Resources in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $73.00 price objective for the company. Capital One Financial upgraded California Resources to a “strong-buy” rating in a report on Monday, December 9th. Truist Financial started coverage on California Resources in a report on Monday, January 13th. They issued a “buy” rating and a $75.00 price objective on the stock. JPMorgan Chase & Co. began coverage on shares of California Resources in a research report on Friday, December 20th. They set a “neutral” rating and a $63.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of California Resources in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, California Resources currently has an average rating of “Moderate Buy” and a consensus price target of $67.25.

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.