Landscape Capital Management L.L.C. Acquires New Holdings in California Resources Co. (NYSE:CRC)

Landscape Capital Management L.L.C. bought a new position in California Resources Co. (NYSE:CRC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 17,562 shares of the oil and gas producer's stock, valued at approximately $911,000.

Other hedge funds have also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of California Resources in the fourth quarter worth about $31,000. Smartleaf Asset Management LLC grew its position in shares of California Resources by 331.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,057 shares of the oil and gas producer's stock worth $53,000 after buying an additional 812 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of California Resources by 71.6% during the 4th 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 in the last quarter. GAMMA Investing LLC increased its stake in shares of California Resources by 22.8% during 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 period. Finally, Point72 DIFC Ltd bought a new stake in shares of California Resources in the third quarter valued at about $70,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director James N. Chapman purchased 2,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $39.42 per share, for a total transaction of $78,840.00. Following the transaction, the director now owns 43,445 shares of the company's stock, valued at $1,712,601.90. This represents a 4.83 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.03% of the stock is currently owned by company insiders.

California Resources Trading Up 2.5 %

NYSE:CRC traded up $0.83 on Friday, hitting $34.32. 875,815 shares of the stock were exchanged, compared to its average volume of 848,966. The stock has a fifty day moving average of $43.04 and a 200-day moving average of $49.99. The stock has a market cap of $3.11 billion, a PE ratio of 5.40, a PEG ratio of 1.02 and a beta of 1.03. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. California Resources Co. has a fifty-two week low of $30.97 and a fifty-two week high of $60.41.

California Resources (NYSE:CRC - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The oil and gas producer reported $0.91 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.05). California Resources had a net margin of 17.43% and a return on equity of 12.16%. The company had revenue of $877.00 million during the quarter, compared to analysts' expectations of $901.36 million. As a group, equities analysts expect that California Resources Co. will post 3.85 earnings per share for the current fiscal year.

California Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a $0.3875 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.52%. California Resources's dividend payout ratio (DPR) is presently 37.71%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Citigroup lowered California Resources from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $62.00 to $36.00 in a report on Monday. Royal Bank of Canada reduced their price target on California Resources from $68.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday. Truist Financial assumed coverage on shares of California Resources in a report on Monday, January 13th. They issued a "buy" rating and a $75.00 price target for the company. Barclays cut their price objective 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. Finally, JPMorgan Chase & Co. assumed coverage on shares of California Resources in a research report on Friday, December 20th. They set a "neutral" rating and a $63.00 price target on the stock. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $63.83.

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.