Ontario Teachers Pension Plan Board raised its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 322.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,812 shares of the oil and gas producer's stock after acquiring an additional 96,824 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Canadian Natural Resources were worth $4,210,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. RFP Financial Group LLC boosted its holdings in Canadian Natural Resources by 98.3% in the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer's stock worth $25,000 after acquiring an additional 352 shares in the last quarter. Park Place Capital Corp lifted its holdings in shares of Canadian Natural Resources by 100.0% in the 2nd 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. Sugarloaf Wealth Management LLC increased its position in shares of Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer's stock worth $26,000 after acquiring an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of Canadian Natural Resources by 91.6% in the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Canadian Natural Resources by 104.7% during the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer's stock worth $31,000 after buying an additional 447 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.
Canadian Natural Resources Trading Up 0.3 %
Shares of Canadian Natural Resources stock traded up $0.11 on Wednesday, hitting $33.78. The stock had a trading volume of 2,272,082 shares, compared to its average volume of 5,299,736. The stock has a market cap of $71.29 billion, a price-to-earnings ratio of 13.10 and a beta of 1.50. The stock's 50-day simple moving average is $34.46 and its two-hundred day simple moving average is $35.41. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a one year low of $29.45 and a one year high of $41.29.
Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the consensus estimate of $0.67 by $0.30. The business had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same quarter in the previous year, the firm posted $0.96 earnings per share. As a group, sell-side analysts predict that Canadian Natural Resources Limited will post 2.44 EPS for the current year.
Canadian Natural Resources Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.388 dividend. The ex-dividend date is Friday, December 13th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.38. This represents a $1.55 dividend on an annualized basis and a yield of 4.59%. Canadian Natural Resources's payout ratio is currently 64.59%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on CNQ shares. Desjardins upgraded Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, October 8th. StockNews.com lowered shares of Canadian Natural Resources from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $51.00.
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About Canadian Natural Resources
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Free Report)
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).
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