Lighthouse Investment Partners LLC Invests $848,000 in Canadian Natural Resources Limited (NYSE:CNQ)

Lighthouse Investment Partners LLC purchased a new stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 27,474 shares of the oil and gas producer's stock, valued at approximately $848,000.

Several other hedge funds have also modified their holdings of the business. Graham Capital Management L.P. lifted its holdings in shares of Canadian Natural Resources by 70.4% in the 4th quarter. Graham Capital Management L.P. now owns 266,118 shares of the oil and gas producer's stock valued at $8,215,000 after buying an additional 109,916 shares during the period. Greenline Partners LLC increased its stake in Canadian Natural Resources by 6.2% in the 4th quarter. Greenline Partners LLC now owns 141,367 shares of the oil and gas producer's stock valued at $4,364,000 after purchasing an additional 8,277 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. purchased a new position in Canadian Natural Resources in the 4th quarter valued at approximately $805,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Canadian Natural Resources by 17.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 74,040 shares of the oil and gas producer's stock valued at $2,285,000 after purchasing an additional 11,004 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its stake in Canadian Natural Resources by 16.6% in the 4th quarter. EP Wealth Advisors LLC now owns 16,539 shares of the oil and gas producer's stock valued at $511,000 after purchasing an additional 2,357 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNQ has been the subject of several research analyst reports. Raymond James raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Finally, Tudor Pickering downgraded Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $63.00.

Canadian Natural Resources Stock Up 0.5%

Shares of CNQ traded up $0.16 during midday trading on Tuesday, reaching $30.72. 859,048 shares of the company were exchanged, compared to its average volume of 5,459,772. The stock has a 50-day moving average price of $29.33 and a 200-day moving average price of $30.65. The company has a market cap of $64.36 billion, a price-to-earnings ratio of 11.93 and a beta of 1.04. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $38.86. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the previous year, the company earned $1.37 earnings per share. Research analysts expect that Canadian Natural Resources Limited will post 2.45 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 Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.4227 dividend. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a yield of 5.50%. The ex-dividend date is Friday, June 13th. Canadian Natural Resources's payout ratio is currently 63.92%.

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).