Canadian Natural Resources Limited (NYSE:CNQ) Shares Bought by Canoe Financial LP

Canoe Financial LP raised its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 226.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,549,610 shares of the oil and gas producer’s stock after acquiring an additional 1,074,199 shares during the period. Canadian Natural Resources accounts for about 1.2% of Canoe Financial LP’s investment portfolio, making the stock its 26th biggest holding. Canoe Financial LP owned about 0.07% of Canadian Natural Resources worth $51,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Lighthouse Investment Partners LLC bought a new stake in Canadian Natural Resources during the second quarter worth approximately $890,000. Capital Wealth Planning LLC raised its holdings in Canadian Natural Resources by 228.5% during the second quarter. Capital Wealth Planning LLC now owns 91,652 shares of the oil and gas producer’s stock worth $3,263,000 after purchasing an additional 63,756 shares in the last quarter. Souders Financial Advisors raised its holdings in Canadian Natural Resources by 103.0% during the second quarter. Souders Financial Advisors now owns 99,999 shares of the oil and gas producer’s stock worth $3,560,000 after purchasing an additional 50,744 shares in the last quarter. Baskin Financial Services Inc. raised its holdings in Canadian Natural Resources by 1.5% during the third quarter. Baskin Financial Services Inc. now owns 985,280 shares of the oil and gas producer’s stock worth $32,696,000 after purchasing an additional 14,812 shares in the last quarter. Finally, JBF Capital Inc. raised its holdings in Canadian Natural Resources by 101.1% during the second quarter. JBF Capital Inc. now owns 512,198 shares of the oil and gas producer’s stock worth $18,234,000 after purchasing an additional 257,549 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 1.3 %

NYSE CNQ opened at $35.55 on Monday. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88. The stock has a market cap of $75.65 billion, a price-to-earnings ratio of 14.16 and a beta of 1.50. The firm’s 50 day moving average price is $34.92 and its two-hundred day moving average price is $35.95.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The firm had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the previous year, the company posted $0.43 EPS. Equities analysts anticipate that Canadian Natural Resources Limited will post 2.5 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This represents a $1.55 annualized dividend and a yield of 4.37%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s payout ratio is presently 66.14%.

Analyst Ratings Changes

CNQ has been the topic of several recent analyst reports. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Finally, Wolfe Research assumed coverage on shares of Canadian Natural Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Canadian Natural Resources currently has a consensus rating of “Hold” and an average price target of $49.50.

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).