Hartree Partners LP Raises Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Hartree Partners LP boosted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1,378.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 100,000 shares of the oil and gas producer’s stock after acquiring an additional 93,234 shares during the period. Canadian Natural Resources comprises approximately 1.1% of Hartree Partners LP’s holdings, making the stock its 25th biggest holding. Hartree Partners LP’s holdings in Canadian Natural Resources were worth $3,086,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CNQ. Holocene Advisors LP acquired a new position in Canadian Natural Resources in the third quarter valued at $13,700,000. Principal Securities Inc. raised its position in Canadian Natural Resources by 595.2% in the fourth quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer’s stock valued at $216,000 after purchasing an additional 5,982 shares during the period. SG Americas Securities LLC lifted its stake in shares of Canadian Natural Resources by 6.3% during the fourth quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock worth $9,151,000 after purchasing an additional 17,694 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Canadian Natural Resources by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock worth $746,025,000 after buying an additional 1,270,945 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Canadian Natural Resources by 87.0% in the fourth 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 buying an additional 2,064,492 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNQ. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday. 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 downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Raymond James reissued a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.00.

Canadian Natural Resources Stock Down 1.3 %

Shares of Canadian Natural Resources stock opened at $30.55 on Friday. The business has a 50-day moving average price of $29.98 and a 200 day moving average price of $32.14. Canadian Natural Resources Limited has a fifty-two week low of $25.62 and a fifty-two week high of $41.29. The firm has a market cap of $64.16 billion, a P/E ratio of 11.86 and a beta of 1.48. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.39%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is 77.88%.

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).