Landscape Capital Management L.L.C. Takes Position in California Resources Co. (NYSE:CRC)

Landscape Capital Management L.L.C. purchased a new position in shares of California Resources Co. (NYSE:CRC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,562 shares of the oil and gas producer’s stock, valued at approximately $911,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of California Resources during the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC grew its holdings in California Resources by 331.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 812 shares during the period. Nisa Investment Advisors LLC grew its holdings 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 valued at $56,000 after purchasing an additional 454 shares during the period. GAMMA Investing LLC raised its stake in shares of California Resources by 22.8% during the 4th quarter. GAMMA Investing LLC now owns 1,196 shares of the oil and gas producer’s stock worth $62,000 after buying an additional 222 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in shares of California Resources during the 3rd quarter valued at approximately $70,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Insider Activity

In related news, Director James N. Chapman acquired 2,000 shares of California Resources stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the acquisition, the director now owns 43,445 shares in the company, valued at approximately $1,712,601.90. This represents a 4.83 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial started coverage on shares of California Resources in a research report on Monday, January 13th. They set a “buy” rating and a $75.00 price objective for the company. Barclays decreased their price target on shares of California Resources from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Capital One Financial raised California Resources to a “strong-buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. assumed coverage on California Resources in a research note on Friday, December 20th. They issued a “neutral” rating and a $63.00 price target on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of California Resources in a research note on Thursday, March 27th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.92.

California Resources Stock Down 14.3 %

NYSE CRC opened at $34.80 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.32. California Resources Co. has a 52 week low of $34.43 and a 52 week high of $60.41. The business’s fifty day simple moving average is $45.26 and its 200-day simple moving average is $50.88. The firm has a market cap of $3.15 billion, a PE ratio of 5.48, a P/E/G ratio of 1.02 and a beta of 1.03.

California Resources (NYSE:CRC) last posted its earnings results on Monday, March 3rd. The oil and gas producer reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.05). The firm had revenue of $877.00 million during the quarter, compared to analyst estimates of $901.36 million. California Resources had a net margin of 17.43% and a return on equity of 12.16%. As a group, equities analysts anticipate that California Resources Co. will post 3.85 earnings per share for the current year.

California Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a $0.3875 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.55 dividend on an annualized basis and a yield of 4.45%. California Resources’s dividend payout ratio is currently 37.71%.

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.