Merewether Investment Management LP Has $43.58 Million Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Merewether Investment Management LP increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 86.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,312,215 shares of the oil and gas producer's stock after acquiring an additional 608,815 shares during the period. Canadian Natural Resources comprises about 2.0% of Merewether Investment Management LP's investment portfolio, making the stock its 19th biggest position. Merewether Investment Management LP owned 0.06% of Canadian Natural Resources worth $43,579,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Murchinson Ltd. acquired a new position in Canadian Natural Resources in the third quarter valued at about $262,000. HighTower Advisors LLC boosted its position in Canadian Natural Resources by 24.3% in the third quarter. HighTower Advisors LLC now owns 181,062 shares of the oil and gas producer's stock valued at $6,016,000 after buying an additional 35,417 shares in the last quarter. Holocene Advisors LP acquired a new position in Canadian Natural Resources in the third quarter valued at about $13,700,000. Centiva Capital LP boosted its position in Canadian Natural Resources by 438.9% in the third quarter. Centiva Capital LP now owns 32,081 shares of the oil and gas producer's stock valued at $1,065,000 after buying an additional 26,128 shares in the last quarter. Finally, Concentric Capital Strategies LP acquired a new position in Canadian Natural Resources in the third quarter valued at about $7,148,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Down 3.2 %

NYSE:CNQ traded down $1.10 during trading hours on Wednesday, hitting $33.11. The stock had a trading volume of 5,975,151 shares, compared to its average volume of 5,270,983. Canadian Natural Resources Limited has a one year low of $29.45 and a one year 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. The company has a market cap of $69.88 billion, a price-to-earnings ratio of 13.29 and a beta of 1.47. The business's 50 day moving average is $34.63 and its 200-day moving average is $35.11.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The firm had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the prior year, the firm earned $0.96 earnings per share. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders 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 dividend yield of 4.69%. Canadian Natural Resources's dividend payout ratio is currently 60.58%.

Analysts Set New Price Targets

CNQ has been the topic of a number of research reports. StockNews.com lowered shares of Canadian Natural Resources from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd. Desjardins raised shares of Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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).