Metis Global Partners LLC Increases Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Metis Global Partners LLC boosted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,698 shares of the oil and gas producer’s stock after buying an additional 6,592 shares during the period. Metis Global Partners LLC’s holdings in Canadian Natural Resources were worth $3,942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. RFP Financial Group LLC lifted its position in Canadian Natural Resources by 98.3% during the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 352 shares during the last quarter. Park Place Capital Corp increased its holdings in Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 358 shares during the period. Sugarloaf Wealth Management LLC lifted its stake in Canadian Natural Resources by 100.0% in the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 364 shares during the period. Bruce G. Allen Investments LLC increased its position in shares of Canadian Natural Resources by 91.6% during the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 415 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Canadian Natural Resources by 104.7% in the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 447 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CNQ. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Finally, Wolfe Research began 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 research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.00.

Canadian Natural Resources Price Performance

NYSE:CNQ opened at $34.03 on Friday. The business’s 50-day simple moving average is $34.43 and its two-hundred day simple moving average is $35.55. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The stock has a market cap of $71.92 billion, a PE ratio of 12.95 and a beta of 1.50. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The company had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same period in the previous year, the firm posted $0.96 EPS. As a group, analysts forecast that Canadian Natural Resources Limited will post 2.38 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.388 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.56%. Canadian Natural Resources’s payout ratio is 60.58%.

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).