Old West Investment Management LLC Buys 151,237 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Old West Investment Management LLC raised its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 73.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 355,983 shares of the oil and gas producer's stock after buying an additional 151,237 shares during the quarter. Canadian Natural Resources accounts for about 4.3% of Old West Investment Management LLC's holdings, making the stock its 7th biggest position. Old West Investment Management LLC's holdings in Canadian Natural Resources were worth $11,822,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. TD Asset Management Inc boosted its stake in shares of Canadian Natural Resources by 96.2% during the 2nd quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer's stock worth $1,514,190,000 after acquiring an additional 20,843,193 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Canadian Natural Resources by 93.0% during the second quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer's stock valued at $1,476,644,000 after purchasing an additional 19,980,902 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Canadian Natural Resources by 105.3% during the second quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer's stock valued at $1,127,382,000 after purchasing an additional 16,245,046 shares during the last quarter. Yacktman Asset Management LP lifted its stake in shares of Canadian Natural Resources by 95.9% in the second quarter. Yacktman Asset Management LP now owns 29,456,746 shares of the oil and gas producer's stock worth $1,048,660,000 after buying an additional 14,418,835 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Canadian Natural Resources by 90.3% during the 2nd quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer's stock worth $1,069,338,000 after buying an additional 14,246,978 shares during the period. Hedge funds and other institutional investors own 74.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CNQ shares. Wolfe Research assumed coverage on shares of Canadian Natural Resources in a research report on Thursday, July 18th. They set a "peer perform" rating for the company. Desjardins upgraded Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, October 8th. Finally, StockNews.com downgraded Canadian Natural Resources from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $51.00.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ traded up $0.24 during mid-day trading on Wednesday, hitting $34.65. The company had a trading volume of 2,990,302 shares, compared to its average volume of 5,371,216. Canadian Natural Resources Limited has a 12 month low of $29.45 and a 12 month high of $41.29. The firm has a market cap of $73.22 billion, a P/E ratio of 13.36 and a beta of 1.50. The business's 50-day simple moving average is $34.63 and its 200-day simple moving average is $35.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.30. The company had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same quarter last year, the company earned $0.96 EPS. As a group, analysts predict that Canadian Natural Resources Limited will post 2.4 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.388 dividend. This represents a $1.55 annualized dividend and a yield of 4.48%. The ex-dividend date is Friday, December 13th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.38. Canadian Natural Resources's payout ratio is 60.58%.

Canadian Natural Resources 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).