Old West Investment Management LLC Has $11.08 Million Stake in Canadian Natural Resources Limited $CNQ

Old West Investment Management LLC increased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 about 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 have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new stake in shares of Canadian Natural Resources during the second quarter worth $27,000. Addison Advisors LLC increased its position in Canadian Natural Resources by 309.1% during the second quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 677 shares during the period. Investment Management Corp VA ADV raised its stake in Canadian Natural Resources by 158.3% in the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 611 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 528 shares during the period. Finally, Adirondack Trust Co. boosted its holdings in Canadian Natural Resources by 317.1% in the 2nd quarter. Adirondack Trust Co. now owns 1,710 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 1,300 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on CNQ shares. National Bankshares reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Wells Fargo & Company raised Canadian Natural Resources to a “hold” rating in a report on Thursday, October 16th. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. Finally, Raymond James Financial restated an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Canadian Natural Resources has an average rating of “Moderate Buy” and an average target price of $62.00.

Canadian Natural Resources Price Performance

Shares of CNQ stock opened at $32.52 on Friday. The business has a fifty day simple moving average of $31.67 and a 200 day simple moving average of $31.33. The company has a market cap of $67.75 billion, a P/E ratio of 11.53 and a beta of 0.96. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $34.97.

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

Canadian Natural Resources Increases Dividend

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

Canadian Natural Resources 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).