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

Old West Investment Management LLC boosted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 395,161 shares of the oil and gas producer’s stock after acquiring an additional 39,178 shares during the quarter. Canadian Natural Resources makes up approximately 4.9% of Old West Investment Management LLC’s holdings, making the stock its 5th biggest holding. Old West Investment Management LLC’s holdings in Canadian Natural Resources were worth $12,199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in shares of Canadian Natural Resources by 6,902.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock valued at $112,763,000 after purchasing an additional 3,600,686 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Canadian Natural Resources by 31.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock valued at $414,223,000 after buying an additional 3,224,548 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Canadian Natural Resources by 63.5% during the third quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock worth $273,417,000 after buying an additional 3,198,007 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Canadian Natural Resources by 30.1% during the fourth quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer’s stock worth $400,222,000 after buying an additional 2,939,866 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Canadian Natural Resources by 87.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock valued at $136,994,000 after acquiring an additional 2,064,492 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $27.61 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a one year low of $25.62 and a one year high of $41.29. The business’s 50 day simple moving average is $29.86 and its 200 day simple moving average is $32.07. The stock has a market capitalization of $58.00 billion, a PE ratio of 10.72 and a beta of 1.48.

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 given a dividend of $0.4117 per share. The ex-dividend date was Friday, March 21st. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a dividend yield of 5.96%. Canadian Natural Resources’s dividend payout ratio is 77.88%.

Wall Street Analysts Forecast Growth

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