Entropy Technologies LP Makes New $4.70 Million Investment in Canadian Natural Resources Limited (NYSE:CNQ)

Entropy Technologies LP purchased a new stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 141,579 shares of the oil and gas producer's stock, valued at approximately $4,702,000.

Several other hedge funds have also made changes to their positions in the stock. Nations Financial Group Inc. IA ADV increased its position in shares of Canadian Natural Resources by 7.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 14,996 shares of the oil and gas producer's stock worth $498,000 after acquiring an additional 1,098 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Canadian Natural Resources by 76.8% in the third quarter. Venturi Wealth Management LLC now owns 6,323 shares of the oil and gas producer's stock valued at $210,000 after purchasing an additional 2,747 shares during the period. Meixler Investment Management Ltd. grew its holdings in Canadian Natural Resources by 10.0% in the 3rd quarter. Meixler Investment Management Ltd. now owns 149,806 shares of the oil and gas producer's stock valued at $4,975,000 after buying an additional 13,594 shares during the last quarter. Ted Buchan & Co raised its position in shares of Canadian Natural Resources by 2.7% during the third quarter. Ted Buchan & Co now owns 20,483 shares of the oil and gas producer's stock valued at $680,000 after buying an additional 540 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in Canadian Natural Resources by 80.7% in the third quarter. Lindbrook Capital LLC now owns 6,322 shares of the oil and gas producer's stock worth $210,000 after purchasing an additional 2,824 shares during the period. Institutional investors own 74.03% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CNQ. Desjardins upgraded Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, October 8th. Wolfe Research began coverage on Canadian Natural Resources in a report on Thursday, July 18th. They set a "peer perform" rating on the stock. Finally, StockNews.com downgraded Canadian Natural Resources from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Canadian Natural Resources presently has a consensus rating of "Hold" and a consensus price target of $51.00.

Canadian Natural Resources Trading Down 1.3 %

Shares of NYSE:CNQ traded down $0.45 during trading on Tuesday, reaching $33.77. The stock had a trading volume of 4,574,184 shares, compared to its average volume of 5,343,360. The stock has a market cap of $71.37 billion, a price-to-earnings ratio of 13.10 and a beta of 1.50. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The firm's fifty day moving average is $34.47 and its 200 day moving average is $35.60. 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 results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.30. The firm 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 quarter in the prior year, the firm earned $0.96 EPS. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.388 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a yield of 4.60%. Canadian Natural Resources's dividend payout ratio is 60.58%.

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).