Summit Financial LLC Invests $267,000 in Canadian Natural Resources Limited (NYSE:CNQ)

Summit Financial LLC acquired a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 8,544 shares of the oil and gas producer's stock, valued at approximately $267,000.

A number of other hedge funds also recently bought and sold shares of CNQ. Old West Investment Management LLC grew its stake in shares of 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 buying an additional 151,237 shares during the period. Thrivent Financial for Lutherans grew its position in 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 worth $309,000 after acquiring an additional 3,076 shares during the period. Townsquare Capital LLC purchased a new position in Canadian Natural Resources in the third quarter worth approximately $347,000. Verition Fund Management LLC lifted its stake in shares of Canadian Natural Resources by 62.1% in the 3rd quarter. Verition Fund Management LLC now owns 25,088 shares of the oil and gas producer's stock valued at $833,000 after purchasing an additional 9,610 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in shares of Canadian Natural Resources by 815.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 55,138 shares of the oil and gas producer's stock worth $1,831,000 after purchasing an additional 49,117 shares during the period. Institutional investors and hedge funds own 74.03% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CNQ shares. Royal Bank of Canada reissued an "outperform" rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Raymond James restated a "market perform" rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Tudor Pickering cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Finally, Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $63.00.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock traded down $0.49 during mid-day trading on Tuesday, reaching $26.09. 3,245,592 shares of the company were exchanged, compared to its average volume of 7,225,254. The firm's 50-day simple moving average is $29.77 and its two-hundred day simple moving average is $32.00. Canadian Natural Resources Limited has a twelve month low of $25.62 and a twelve month high of $41.29. The firm has a market cap of $54.79 billion, a PE ratio of 10.13 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were issued a $0.4117 dividend. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a dividend yield of 6.31%. The ex-dividend date was Friday, March 21st. Canadian Natural Resources's dividend payout ratio (DPR) is currently 77.88%.

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).