Crestline Management LP Boosts Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Crestline Management LP lifted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 19.7% in the fourth quarter, HoldingsChannel reports. The firm owned 50,977 shares of the oil and gas producer’s stock after buying an additional 8,391 shares during the quarter. Crestline Management LP’s holdings in Canadian Natural Resources were worth $1,574,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Duncker Streett & Co. Inc. acquired a new stake in shares of Canadian Natural Resources in the fourth quarter valued at $25,000. Lee Danner & Bass Inc. purchased a new stake in Canadian Natural Resources during the 4th quarter worth about $25,000. Sandy Spring Bank acquired a new stake in Canadian Natural Resources in the 4th quarter valued at about $31,000. CoreFirst Bank & Trust purchased a new position in shares of Canadian Natural Resources in the 4th quarter valued at about $31,000. Finally, Hurley Capital LLC acquired a new position in shares of Canadian Natural Resources during the fourth quarter worth about $31,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on CNQ shares. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 target price on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Raymond James raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.00.

Canadian Natural Resources Stock Up 4.4 %

CNQ opened at $30.05 on Friday. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $39.20. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The stock has a market capitalization of $63.04 billion, a P/E ratio of 11.67 and a beta of 1.04. The business’s 50-day simple moving average is $28.91 and its 200-day simple moving average is $30.88.

Canadian Natural Resources Increases Dividend

The company also recently disclosed 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 an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a dividend yield of 5.48%. The ex-dividend date was Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is presently 77.88%.

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).