SCP Investment LP Purchases 10,000 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

SCP Investment LP boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 59.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 26,800 shares of the oil and gas producer’s stock after buying an additional 10,000 shares during the quarter. Canadian Natural Resources accounts for 0.6% of SCP Investment LP’s investment portfolio, making the stock its 21st biggest holding. SCP Investment LP’s holdings in Canadian Natural Resources were worth $827,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CNQ. Old West Investment Management LLC lifted its stake in Canadian Natural Resources by 73.9% in the 3rd quarter. Old West Investment Management LLC now owns 355,983 shares of the oil and gas producer’s stock valued at $11,822,000 after purchasing an additional 151,237 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Canadian Natural Resources by 49.3% in the third quarter. Thrivent Financial for Lutherans now owns 9,313 shares of the oil and gas producer’s stock valued at $309,000 after buying an additional 3,076 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of Canadian Natural Resources by 4.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock worth $300,000 after acquiring an additional 419 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Canadian Natural Resources by 237.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 144,139 shares of the oil and gas producer’s stock worth $4,787,000 after acquiring an additional 101,430 shares during the last quarter. Finally, Townsquare Capital LLC bought a new stake in Canadian Natural Resources in the 3rd quarter valued at $347,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 1.3 %

NYSE CNQ opened at $30.55 on Friday. The company has a 50 day moving average of $29.98 and a 200-day moving average of $32.14. Canadian Natural Resources Limited has a 1-year low of $25.62 and a 1-year high of $41.29. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The company has a market cap of $64.16 billion, a price-to-earnings ratio of 11.86 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.39%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is presently 77.88%.

Analyst Ratings Changes

CNQ has been the topic of several research reports. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Raymond James reissued a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.00.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).