SCP Investment LP Makes New $558,000 Investment 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 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,800 shares of the oil and gas producer’s stock, valued at approximately $558,000. Canadian Natural Resources makes up approximately 0.4% of SCP Investment LP’s holdings, making the stock its 29th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Park Place Capital Corp raised its position in Canadian Natural Resources by 100.0% during the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 358 shares during the period. RFP Financial Group LLC raised its holdings in Canadian Natural Resources by 98.3% during the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 352 shares during the period. Sugarloaf Wealth Management LLC lifted its position in Canadian Natural Resources by 100.0% in the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC boosted its stake in Canadian Natural Resources by 91.6% during the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 415 shares during the period. Finally, GAMMA Investing LLC increased its position in Canadian Natural Resources by 104.7% during the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 447 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 0.0 %

Shares of CNQ opened at $33.67 on Wednesday. The firm has a fifty day moving average price of $34.46 and a 200-day moving average price of $35.41. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $71.06 billion, a P/E ratio of 13.10 and a beta of 1.50. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29.

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

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.388 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.55 annualized dividend and a yield of 4.61%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio is 64.59%.

Wall Street Analysts Forecast Growth

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

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).