Lucas Capital Management Takes Position in Canadian Natural Resources Limited (CNQ)

Lucas Capital Management purchased a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,067 shares of the oil and gas producer’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently made changes to their positions in the business. CI Investments Inc. purchased a new position in Canadian Natural Resources Limited during the third quarter valued at $18,369,000. Cambiar Investors LLC lifted its position in Canadian Natural Resources Limited by 2.9% during the third quarter. Cambiar Investors LLC now owns 5,967,810 shares of the oil and gas producer’s stock valued at $199,862,000 after buying an additional 168,736 shares during the period. First Eagle Investment Management LLC lifted its position in Canadian Natural Resources Limited by 8.3% during the third quarter. First Eagle Investment Management LLC now owns 4,990,229 shares of the oil and gas producer’s stock valued at $167,202,000 after buying an additional 382,905 shares during the period. Jaffetilchin Investment Partners LLC purchased a new position in Canadian Natural Resources Limited during the third quarter valued at $544,000. Finally, Boston Partners lifted its position in Canadian Natural Resources Limited by 15.3% during the third quarter. Boston Partners now owns 176,110 shares of the oil and gas producer’s stock valued at $5,898,000 after buying an additional 23,347 shares during the period. 58.64% of the stock is owned by institutional investors and hedge funds.

Several brokerages have commented on CNQ. Canaccord Genuity reissued a “buy” rating and set a $53.00 price objective on shares of Canadian Natural Resources Limited in a research report on Wednesday, November 8th. Zacks Investment Research lowered Canadian Natural Resources Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Morgan Stanley raised their price objective on Canadian Natural Resources Limited from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, October 13th. Finally, Citigroup Inc. lowered Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $33.00 in a research report on Friday, July 21st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $45.90.

Shares of Canadian Natural Resources Limited (NYSE CNQ) traded down $0.46 during trading hours on Tuesday, hitting $36.06. The stock had a trading volume of 1,312,200 shares, compared to its average volume of 2,485,783. Canadian Natural Resources Limited has a 1 year low of $27.52 and a 1 year high of $36.79. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.71 and a quick ratio of 0.56. The company has a market capitalization of $44,486.47, a P/E ratio of 40.13, a PEG ratio of 8.78 and a beta of 1.49.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Tuesday, December 12th will be issued a dividend of $0.214 per share. The ex-dividend date is Monday, December 11th. This represents a $0.86 annualized dividend and a dividend yield of 2.37%. Canadian Natural Resources Limited’s payout ratio is presently 52.07%.

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Canadian Natural Resources Limited Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

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Institutional Ownership by Quarter for Canadian Natural Resources Limited (NYSE:CNQ)

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