PDT Partners LLC Takes $1.54 Million Position in Canadian Natural Resources Limited (NYSE:CNQ)

PDT Partners LLC bought a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 46,300 shares of the oil and gas producer’s stock, valued at approximately $1,538,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNQ. Park Place Capital Corp lifted its position in Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 358 shares during the period. RFP Financial Group LLC grew its position in Canadian Natural Resources by 98.3% in the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC grew its position in Canadian Natural Resources by 100.0% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in Canadian Natural Resources by 91.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 415 shares during the period. Finally, GAMMA Investing LLC raised its position in Canadian Natural Resources by 104.7% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CNQ. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note 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 analysts have rated the stock with a hold rating, According to data from MarketBeat, Canadian Natural Resources presently has an average rating of “Hold” and a consensus price target of $51.00.

Canadian Natural Resources Stock Up 0.9 %

Shares of NYSE CNQ opened at $33.82 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $34.65 and a 200 day moving average price of $35.17. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The stock has a market capitalization of $71.37 billion, a price-to-earnings ratio of 13.13 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The company had revenue of $7.62 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned $0.96 EPS. Equities research analysts anticipate that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.59%. This is an increase 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

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).