Wexford Capital LP raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 142.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 294,390 shares of the oil and gas producer's stock after purchasing an additional 173,057 shares during the quarter. Canadian Natural Resources makes up approximately 2.3% of Wexford Capital LP's portfolio, making the stock its 7th largest holding. Wexford Capital LP's holdings in Canadian Natural Resources were worth $9,776,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Holocene Advisors LP bought a new stake in shares of Canadian Natural Resources during the 3rd quarter valued at $13,700,000. Lighthouse Investment Partners LLC purchased a new position in Canadian Natural Resources during the 2nd quarter valued at about $890,000. Canoe Financial LP increased its position in shares of Canadian Natural Resources by 226.0% during 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. Cerity Partners LLC lifted its holdings in shares of Canadian Natural Resources by 112.8% in the third quarter. Cerity Partners LLC now owns 453,393 shares of the oil and gas producer's stock worth $15,057,000 after buying an additional 240,354 shares in the last quarter. Finally, Aigen Investment Management LP boosted its position in shares of Canadian Natural Resources by 123.0% in the third quarter. Aigen Investment Management LP now owns 54,323 shares of the oil and gas producer's stock valued at $1,804,000 after acquiring an additional 29,961 shares during the period. Institutional investors own 74.03% of the company's stock.
Analyst Ratings Changes
CNQ has been the topic of several research analyst reports. StockNews.com cut shares of Canadian Natural Resources from a "buy" rating to a "hold" rating in a 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 investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $51.00.
Get Our Latest Stock Report on Canadian Natural Resources
Canadian Natural Resources Price Performance
NYSE CNQ traded down $0.98 during trading hours on Friday, reaching $32.27. 5,112,055 shares of the stock traded hands, compared to its average volume of 3,937,504. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The stock has a 50 day simple moving average of $34.63 and a two-hundred day simple moving average of $35.08. Canadian Natural Resources Limited has a 1 year low of $29.45 and a 1 year high of $41.29. The company has a market cap of $68.10 billion, a price-to-earnings ratio of 12.53 and a beta of 1.47.
Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings data 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. The firm had revenue of $7.62 billion for the quarter, compared to analyst estimates 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 prior year, the company earned $0.96 EPS. On average, analysts predict that Canadian Natural Resources Limited will post 2.47 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. Stockholders of record on Friday, December 13th will be issued a $0.388 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.81%. 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 60.58%.
Canadian Natural Resources Company Profile
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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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