Old West Investment Management LLC Purchases 10,700 Shares of Canadian Natural Resources Limited $CNQ

Old West Investment Management LLC grew its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 3.1% during the second quarter, HoldingsChannel.com reports. The firm owned 352,983 shares of the oil and gas producer’s stock after purchasing an additional 10,700 shares during the period. Canadian Natural Resources makes up approximately 3.7% of Old West Investment Management LLC’s portfolio, making the stock its 11th biggest holding. Old West Investment Management LLC’s holdings in Canadian Natural Resources were worth $11,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CNQ. Stratos Wealth Partners LTD. acquired a new stake in Canadian Natural Resources during the 1st quarter worth approximately $249,000. Bleakley Financial Group LLC lifted its holdings in shares of Canadian Natural Resources by 32.0% during the first quarter. Bleakley Financial Group LLC now owns 31,967 shares of the oil and gas producer’s stock worth $985,000 after purchasing an additional 7,743 shares during the period. Sigma Planning Corp acquired a new position in shares of Canadian Natural Resources during the first quarter worth $287,000. Massachusetts Financial Services Co. MA grew its stake in shares of Canadian Natural Resources by 8.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,757,518 shares of the oil and gas producer’s stock worth $146,532,000 after purchasing an additional 385,009 shares during the last quarter. Finally, Whittier Trust Co. increased its holdings in Canadian Natural Resources by 11.9% in the first quarter. Whittier Trust Co. now owns 47,520 shares of the oil and gas producer’s stock valued at $1,463,000 after purchasing an additional 5,038 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

CNQ has been the topic of several recent research reports. National Bankshares reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Raymond James Financial restated an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. Wells Fargo & Company upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, October 16th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $32.52 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $34.97. The business has a 50-day simple moving average of $31.67 and a 200 day simple moving average of $31.33. The firm has a market capitalization of $67.75 billion, a price-to-earnings ratio of 11.53 and a beta of 0.96.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.The company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period last year, the business earned $0.97 EPS. On average, research analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 12th will be issued a $0.5875 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.43. This represents a $2.35 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Friday, December 12th. Canadian Natural Resources’s dividend payout ratio is 73.89%.

Canadian Natural Resources Company 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).