SCP Investment LP Has $827,000 Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

SCP Investment LP grew its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 59.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,800 shares of the oil and gas producer’s stock after purchasing an additional 10,000 shares during the quarter. Canadian Natural Resources comprises approximately 0.6% of SCP Investment LP’s holdings, making the stock its 21st largest holding. SCP Investment LP’s holdings in Canadian Natural Resources were worth $827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CNQ. Duncker Streett & Co. Inc. bought a new position in Canadian Natural Resources during the fourth quarter worth about $25,000. Lee Danner & Bass Inc. acquired a new stake in shares of Canadian Natural Resources in the 4th quarter valued at approximately $25,000. Continuum Advisory LLC boosted its stake in Canadian Natural Resources by 144.1% during the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 490 shares during the last quarter. Sandy Spring Bank acquired a new position in Canadian Natural Resources during the fourth quarter valued at approximately $31,000. Finally, CoreFirst Bank & Trust bought a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $31,000. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Down 1.3 %

NYSE:CNQ opened at $30.55 on Friday. The company has a market cap of $64.16 billion, a PE ratio of 11.86 and a beta of 1.48. The stock has a 50-day simple moving average of $29.98 and a 200 day simple moving average of $32.14. 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 Limited has a 52-week low of $25.62 and a 52-week high of $41.29.

Canadian Natural Resources Increases Dividend

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

Wall Street Analyst Weigh In

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