Townsquare Capital LLC Grows Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Townsquare Capital LLC raised its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,610 shares of the oil and gas producer’s stock after buying an additional 1,168 shares during the quarter. Townsquare Capital LLC’s holdings in Canadian Natural Resources were worth $358,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CNQ. Covestor Ltd lifted its position in Canadian Natural Resources by 14.3% in the fourth quarter. Covestor Ltd now owns 11,590 shares of the oil and gas producer’s stock valued at $358,000 after purchasing an additional 1,450 shares during the period. Scotia Capital Inc. boosted its stake in shares of Canadian Natural Resources by 5.8% in the fourth quarter. Scotia Capital Inc. now owns 5,969,882 shares of the oil and gas producer’s stock valued at $183,954,000 after buying an additional 329,555 shares in the last quarter. Bessemer Group Inc. grew its holdings in Canadian Natural Resources by 314.8% during the fourth quarter. Bessemer Group Inc. now owns 522,458 shares of the oil and gas producer’s stock worth $16,113,000 after acquiring an additional 396,491 shares during the period. CenterBook Partners LP raised its position in Canadian Natural Resources by 12.3% in the fourth quarter. CenterBook Partners LP now owns 46,020 shares of the oil and gas producer’s stock worth $1,421,000 after acquiring an additional 5,023 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Canadian Natural Resources in the fourth quarter valued at $38,441,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $28.69 on Tuesday. 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 12 month low of $24.65 and a 12 month high of $39.20. The company has a market cap of $60.18 billion, a price-to-earnings ratio of 11.14 and a beta of 1.10. The stock’s 50-day moving average is $28.99 and its 200-day moving average is $31.46.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were given a $0.4117 dividend. The ex-dividend date was Friday, March 21st. This represents a $1.65 annualized dividend and a dividend yield of 5.74%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s dividend payout ratio is presently 77.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CNQ shares. Raymond James upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price target 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 report on Wednesday, March 19th. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Finally, Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

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).