Hara Capital LLC Sells 37,265 Shares of California Resources Co. (NYSE:CRC)

Hara Capital LLC lowered its holdings in California Resources Co. (NYSE:CRC) by 24.6% during the fourth quarter, according to its most recent Form 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 period. California Resources comprises about 3.8% of Hara Capital LLC’s investment portfolio, making the stock its 3rd biggest holding. Hara Capital LLC owned about 0.12% of California Resources worth $5,919,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of California Resources in the 4th quarter worth approximately $31,000. Nisa Investment Advisors LLC increased its position in California Resources by 71.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,088 shares of the oil and gas producer’s stock worth $56,000 after buying an additional 454 shares during the period. GAMMA Investing LLC lifted its stake in California Resources by 22.8% in the fourth quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer’s stock valued at $62,000 after buying an additional 222 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of California Resources during the third quarter valued at $70,000. Finally, Blue Trust Inc. boosted its holdings in shares of California Resources by 518.4% during the fourth quarter. Blue Trust Inc. now owns 1,682 shares of the oil and gas producer’s stock valued at $88,000 after acquiring an additional 1,410 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

California Resources Price Performance

Shares of California Resources stock opened at $48.30 on Tuesday. California Resources Co. has a 52 week low of $43.09 and a 52 week high of $60.41. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $51.48 and its two-hundred day moving average price is $52.29. 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.

Insider Activity at California Resources

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Stephens started coverage on shares of California Resources in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $73.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on California Resources in a report on Friday, December 20th. They set a “neutral” rating and a $63.00 price target on the stock. 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 for the company. Jefferies Financial Group started coverage on California Resources in a research note on Thursday, October 24th. They set a “buy” rating and a $64.00 target price on the stock. Finally, TD Cowen increased their price target on California Resources from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.25.

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.