56,000 Shares in Canadian Natural Resources Limited (NYSE:CNQ) Purchased by Arosa Capital Management LP

Arosa Capital Management LP acquired a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 56,000 shares of the oil and gas producer’s stock, valued at approximately $1,860,000. Canadian Natural Resources makes up 0.7% of Arosa Capital Management LP’s investment portfolio, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNQ. Tidal Investments LLC raised its stake in shares of Canadian Natural Resources by 59.9% during the 1st quarter. Tidal Investments LLC now owns 10,245 shares of the oil and gas producer’s stock valued at $782,000 after purchasing an additional 3,837 shares during the period. Atria Investments Inc purchased a new position in Canadian Natural Resources during the first quarter valued at approximately $1,006,000. Cetera Investment Advisers increased its holdings in shares of Canadian Natural Resources by 305.4% in the first quarter. Cetera Investment Advisers now owns 36,858 shares of the oil and gas producer’s stock worth $2,813,000 after purchasing an additional 27,766 shares during the period. Cetera Advisors LLC increased its stake in Canadian Natural Resources by 61.7% in the 1st quarter. Cetera Advisors LLC now owns 19,821 shares of the oil and gas producer’s stock worth $1,513,000 after acquiring an additional 7,565 shares during the last quarter. Finally, Park Place Capital Corp grew its holdings in shares of Canadian Natural Resources by 100.0% during the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 358 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock opened at $33.82 on Monday. The stock has a market capitalization of $71.37 billion, a price-to-earnings ratio of 13.13 and a beta of 1.50. The company has a fifty day moving average of $34.65 and a 200-day moving average of $35.17. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84.

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 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. The business had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same period in the previous year, the firm earned $0.96 EPS. Equities research analysts expect that Canadian Natural Resources Limited will post 2.47 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.388 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.55 annualized dividend and a yield of 4.59%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio (DPR) is 60.58%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CNQ shares. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.00.

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).