Canadian Natural Resources Limited (NYSE:CNQ) Shares Purchased by Old West Investment Management LLC

Old West Investment Management LLC lifted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 73.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 355,983 shares of the oil and gas producer’s stock after purchasing an additional 151,237 shares during the period. Canadian Natural Resources accounts for approximately 4.3% of Old West Investment Management LLC’s investment portfolio, making the stock its 7th biggest holding. Old West Investment Management LLC’s holdings in Canadian Natural Resources were worth $11,822,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. TD Asset Management Inc boosted its stake in shares of Canadian Natural Resources by 96.2% in the second quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock valued at $1,514,190,000 after buying an additional 20,843,193 shares during the period. Canada Pension Plan Investment Board boosted its stake in Canadian Natural Resources by 93.0% in the second quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock valued at $1,476,644,000 after buying an additional 19,980,902 shares in the last quarter. 1832 Asset Management L.P. grew its position in Canadian Natural Resources by 105.3% in the second quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock valued at $1,127,382,000 after acquiring an additional 16,245,046 shares during the last quarter. Yacktman Asset Management LP raised its stake in Canadian Natural Resources by 95.9% during the second quarter. Yacktman Asset Management LP now owns 29,456,746 shares of the oil and gas producer’s stock worth $1,048,660,000 after acquiring an additional 14,418,835 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Canadian Natural Resources by 90.3% during the second quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock worth $1,069,338,000 after acquiring an additional 14,246,978 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CNQ shares. Wolfe Research assumed coverage on Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Finally, StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.00.

Canadian Natural Resources Stock Performance

CNQ opened at $34.10 on Wednesday. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29. The company has a market cap of $72.07 billion, a price-to-earnings ratio of 13.36 and a beta of 1.50. The company’s fifty day moving average price is $34.63 and its two-hundred day moving average price is $35.71. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $6.40 billion. During the same period in the previous year, the company posted $0.96 EPS. On average, analysts expect that Canadian Natural Resources Limited will post 2.4 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.388 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s payout ratio is 60.58%.

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).