Old West Investment Management LLC Has $12.20 Million Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Old West Investment Management LLC grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 395,161 shares of the oil and gas producer’s stock after buying an additional 39,178 shares during the quarter. Canadian Natural Resources makes up 4.9% of Old West Investment Management LLC’s portfolio, making the stock its 5th largest position. Old West Investment Management LLC’s holdings in Canadian Natural Resources were worth $12,199,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CNQ. Thrivent Financial for Lutherans lifted its position in shares of 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 valued at $309,000 after buying an additional 3,076 shares during the last quarter. Townsquare Capital LLC bought a new position in Canadian Natural Resources during the third quarter worth $347,000. Verition Fund Management LLC increased its holdings in shares of Canadian Natural Resources by 62.1% in the third 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. Benjamin Edwards Inc. raised its position in shares of Canadian Natural Resources by 815.8% in the third quarter. Benjamin Edwards Inc. now owns 55,138 shares of the oil and gas producer’s stock valued at $1,831,000 after purchasing an additional 49,117 shares during the period. Finally, Centiva Capital LP lifted its stake in shares of Canadian Natural Resources by 438.9% during the 3rd quarter. Centiva Capital LP now owns 32,081 shares of the oil and gas producer’s stock worth $1,065,000 after buying an additional 26,128 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

CNQ opened at $27.61 on Friday. 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. The firm has a market cap of $58.00 billion, a P/E ratio of 10.72 and a beta of 1.48. The business’s fifty day moving average is $29.86 and its 200-day moving average is $32.07.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were paid a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a yield of 5.96%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is presently 77.88%.

Wall Street Analysts Forecast Growth

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

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).