Galibier Capital Management Ltd. Increases Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Galibier Capital Management Ltd. boosted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 23.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 777,962 shares of the oil and gas producer's stock after buying an additional 146,676 shares during the quarter. Canadian Natural Resources makes up approximately 5.8% of Galibier Capital Management Ltd.'s investment portfolio, making the stock its 11th largest position. Galibier Capital Management Ltd.'s holdings in Canadian Natural Resources were worth $25,862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fidelis Capital Partners LLC raised its position in shares of Canadian Natural Resources by 134.9% in the third quarter. Fidelis Capital Partners LLC now owns 24,139 shares of the oil and gas producer's stock valued at $848,000 after purchasing an additional 13,863 shares during the period. Autumn Glory Partners LLC acquired a new stake in shares of Canadian Natural Resources during the 3rd quarter valued at $226,000. Klein Pavlis & Peasley Financial Inc. increased its position in Canadian Natural Resources by 14.8% in the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 31,240 shares of the oil and gas producer's stock valued at $1,037,000 after acquiring an additional 4,018 shares during the period. Canoe Financial LP lifted its holdings in Canadian Natural Resources by 226.0% in the third quarter. Canoe Financial LP now owns 1,549,610 shares of the oil and gas producer's stock valued at $51,469,000 after buying an additional 1,074,199 shares during the period. Finally, Farrow Financial Inc. lifted its position in shares of Canadian Natural Resources by 3.5% during the 3rd quarter. Farrow Financial Inc. now owns 55,279 shares of the oil and gas producer's stock valued at $1,836,000 after acquiring an additional 1,847 shares during the period. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Performance

Shares of NYSE:CNQ traded down $0.03 during trading on Wednesday, hitting $34.38. 1,923,077 shares of the company were exchanged, compared to its average volume of 5,407,318. Canadian Natural Resources Limited has a 52-week low of $29.45 and a 52-week high of $41.29. The stock has a 50 day moving average of $34.86 and a 200 day moving average of $35.87. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.59. The company has a market cap of $73.16 billion, a PE ratio of 13.71 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.26. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The company had revenue of $7.76 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period in the previous year, the company posted $0.43 EPS. As a group, equities research analysts predict that Canadian Natural Resources Limited will post 2.5 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.388 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.51%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. Canadian Natural Resources's payout ratio is presently 66.14%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CNQ shares. StockNews.com downgraded Canadian Natural Resources from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd. Desjardins upgraded Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, October 8th. Finally, Wolfe Research assumed coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They set a "peer perform" rating for the company. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $49.50.

About Canadian Natural Resources

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).