Canadian Natural Resources Limited (NYSE:CNQ) Stake Lifted by Old West Investment Management LLC

Old West Investment Management LLC boosted its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 11.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 395,161 shares of the oil and gas producer's stock after purchasing an additional 39,178 shares during the period. Canadian Natural Resources comprises 4.9% of Old West Investment Management LLC's holdings, making the stock its 5th largest position. Old West Investment Management LLC's holdings in Canadian Natural Resources were worth $12,199,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Thrivent Financial for Lutherans lifted its holdings in Canadian Natural Resources by 49.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 9,313 shares of the oil and gas producer's stock worth $309,000 after purchasing an additional 3,076 shares during the last quarter. Townsquare Capital LLC acquired a new position in shares of Canadian Natural Resources during the 3rd quarter worth $347,000. Verition Fund Management LLC lifted its holdings in shares of Canadian Natural Resources by 62.1% in the third quarter. Verition Fund Management LLC now owns 25,088 shares of the oil and gas producer's stock worth $833,000 after acquiring an additional 9,610 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Canadian Natural Resources by 815.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 55,138 shares of the oil and gas producer's stock valued at $1,831,000 after purchasing an additional 49,117 shares in the last quarter. Finally, Centiva Capital LP grew its holdings in shares of Canadian Natural Resources by 438.9% during the 3rd quarter. Centiva Capital LP now owns 32,081 shares of the oil and gas producer's stock valued at $1,065,000 after purchasing an additional 26,128 shares during the last quarter. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Down 5.3 %

NYSE:CNQ traded down $1.49 during trading hours on Thursday, hitting $26.34. 4,238,334 shares of the company traded hands, compared to its average volume of 5,568,767. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market cap of $55.32 billion, a PE ratio of 10.16 and a beta of 1.10. The firm's 50-day simple moving average is $29.44 and its 200-day simple moving average is $31.83. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $41.29.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were paid a $0.4117 dividend. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 21st. This represents a $1.65 annualized dividend and a yield of 6.25%. Canadian Natural Resources's dividend payout ratio (DPR) is 77.88%.

Analyst Ratings Changes

Several research firms recently weighed in on CNQ. Royal Bank of Canada reissued an "outperform" rating and set a $63.00 price objective on shares of Canadian Natural Resources in a report on Thursday, March 27th. Tudor Pickering cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Raymond James upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday. Evercore ISI raised shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Finally, Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

About Canadian Natural Resources

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).