Hurley Capital LLC Purchases New Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Hurley Capital LLC acquired a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 990 shares of the oil and gas producer’s stock, valued at approximately $31,000.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CNQ shares. Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, March 19th. Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.00.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $27.61 on Friday. The stock has a market capitalization of $58.00 billion, a P/E ratio of 10.72 and a beta of 1.10. Canadian Natural Resources Limited has a 12-month low of $25.62 and a 12-month high of $41.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The firm’s 50-day moving average is $29.86 and its two-hundred day moving average is $32.06.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were given a dividend of $0.4117 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a yield of 5.96%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s dividend payout ratio (DPR) 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).