SCP Investment LP Takes $558,000 Position in Canadian Natural Resources Limited (NYSE:CNQ)

SCP Investment LP acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,800 shares of the oil and gas producer's stock, valued at approximately $558,000. Canadian Natural Resources accounts for approximately 0.4% of SCP Investment LP's portfolio, making the stock its 29th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Cloverfields Capital Group LP lifted its holdings in shares of Canadian Natural Resources by 0.8% during the 1st quarter. Cloverfields Capital Group LP now owns 32,017 shares of the oil and gas producer's stock valued at $2,444,000 after buying an additional 253 shares during the last quarter. RFP Financial Group LLC lifted its holdings in Canadian Natural Resources by 98.3% in the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer's stock worth $25,000 after purchasing an additional 352 shares during the last quarter. Park Place Capital Corp lifted its holdings in Canadian Natural Resources by 100.0% in the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer's stock worth $25,000 after purchasing an additional 358 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in Canadian Natural Resources by 100.0% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer's stock worth $26,000 after purchasing an additional 364 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Canadian Natural Resources by 71.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 904 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 376 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Up 0.3 %

Shares of Canadian Natural Resources stock traded up $0.11 during trading hours on Wednesday, hitting $33.78. The company's stock had a trading volume of 2,272,082 shares, compared to its average volume of 5,299,736. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The company has a market capitalization of $71.29 billion, a PE ratio of 13.10 and a beta of 1.50. Canadian Natural Resources Limited has a 12 month low of $29.45 and a 12 month high of $41.29. The stock has a 50 day moving average of $34.46 and a 200 day moving average of $35.41.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The firm had revenue of $7.62 billion during the quarter, compared to analysts' expectations of $6.40 billion. During the same period in the prior year, the firm posted $0.96 earnings per share. Analysts predict that Canadian Natural Resources Limited will post 2.44 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.388 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.59%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.38. Canadian Natural Resources's dividend payout ratio (DPR) is 64.59%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Desjardins raised Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, October 8th. StockNews.com cut 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, Canadian Natural Resources currently has a consensus rating of "Hold" and a consensus price target of $51.00.

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).