Holocene Advisors LP Makes New $13.70 Million Investment in Canadian Natural Resources Limited (NYSE:CNQ)

Holocene Advisors LP purchased a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 412,519 shares of the oil and gas producer's stock, valued at approximately $13,700,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its position in 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 worth $782,000 after acquiring an additional 3,837 shares during the period. Atria Investments Inc acquired a new stake in Canadian Natural Resources during the 1st quarter worth approximately $1,006,000. Cetera Investment Advisers lifted its position in Canadian Natural Resources by 305.4% during the 1st quarter. Cetera Investment Advisers now owns 36,858 shares of the oil and gas producer's stock worth $2,813,000 after acquiring an additional 27,766 shares during the period. Cetera Advisors LLC lifted its position in Canadian Natural Resources by 61.7% during 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 period. Finally, GAMMA Investing LLC lifted its position in Canadian Natural Resources by 104.7% during 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 during the period. Hedge funds and other institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Price Performance

CNQ stock traded down $1.08 during midday trading on Wednesday, hitting $33.13. 6,125,540 shares of the stock were exchanged, compared to its average volume of 5,271,350. The stock's 50-day moving average price is $34.62 and its 200-day moving average price is $35.09. The stock has a market cap of $69.92 billion, a price-to-earnings ratio of 12.87 and a beta of 1.47. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two 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 - Get Free Report) TSE: CNQ last issued its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.30. The firm had revenue of $7.62 billion during 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 posted $0.96 earnings per share. Research analysts predict that Canadian Natural Resources Limited will post 2.47 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared 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 is an increase from Canadian Natural Resources's previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.55 annualized dividend and a yield of 4.68%. Canadian Natural Resources's dividend payout ratio (DPR) is presently 60.58%.

Analysts Set New Price Targets

CNQ has been the subject of a number of recent research reports. 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. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $51.00.

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).