SCP Investment LP Takes Position in Canadian Natural Resources Limited (NYSE:CNQ)

SCP Investment LP bought a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 16,800 shares of the oil and gas producer’s stock, valued at approximately $558,000. Canadian Natural Resources comprises 0.4% of SCP Investment LP’s investment portfolio, making the stock its 29th largest holding.

Several other large investors also recently bought and sold shares of CNQ. Lighthouse Investment Partners LLC bought a new position in shares of Canadian Natural Resources during the 2nd quarter valued at $890,000. Canoe Financial LP boosted its position in Canadian Natural Resources by 226.0% in the third quarter. Canoe Financial LP now owns 1,549,610 shares of the oil and gas producer’s stock worth $51,469,000 after purchasing an additional 1,074,199 shares during the last quarter. Aigen Investment Management LP grew its stake in shares of Canadian Natural Resources by 123.0% during the 3rd quarter. Aigen Investment Management LP now owns 54,323 shares of the oil and gas producer’s stock valued at $1,804,000 after purchasing an additional 29,961 shares during the period. Capital Wealth Planning LLC lifted its stake in shares of Canadian Natural Resources by 228.5% in the 2nd quarter. Capital Wealth Planning LLC now owns 91,652 shares of the oil and gas producer’s stock worth $3,263,000 after purchasing an additional 63,756 shares during the period. Finally, Souders Financial Advisors boosted its holdings in shares of Canadian Natural Resources by 103.0% in the second quarter. Souders Financial Advisors now owns 99,999 shares of the oil and gas producer’s stock worth $3,560,000 after buying an additional 50,744 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ opened at $33.67 on Wednesday. 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 1 year low of $29.45 and a 1 year high of $41.29. The firm has a fifty day moving average price of $34.46 and a 200-day moving average price of $35.41. The stock has a market cap of $71.06 billion, a PE ratio of 13.10 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The business had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same period last year, the firm earned $0.96 earnings per share. Equities analysts anticipate that Canadian Natural Resources Limited will post 2.44 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.388 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is 64.59%.

Wall Street Analysts Forecast Growth

CNQ has been the topic of several recent research reports. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, Canadian Natural Resources has an average rating of “Hold” and an average price target of $51.00.

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).