Concentric Capital Strategies LP Makes New Investment in Canadian Natural Resources Limited (NYSE:CNQ)

Concentric Capital Strategies LP acquired a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 215,238 shares of the oil and gas producer’s stock, valued at approximately $7,148,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. RFP Financial Group LLC boosted 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 period. Park Place Capital Corp boosted its holdings in Canadian Natural Resources by 100.0% in the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 358 shares during the period. Sugarloaf Wealth Management LLC grew its stake in Canadian Natural Resources by 100.0% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 364 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Canadian Natural Resources by 71.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 904 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 376 shares during the period. Finally, Moloney Securities Asset Management LLC raised its position in Canadian Natural Resources by 5.4% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 7,302 shares of the oil and gas producer’s stock valued at $242,000 after purchasing an additional 376 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Up 0.9 %

Canadian Natural Resources stock opened at $33.82 on Monday. The stock’s 50 day moving average price is $34.65 and its 200 day moving average price is $35.17. The company has a market cap of $71.37 billion, a PE ratio of 13.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a 1-year low of $29.45 and a 1-year high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its 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. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The company had revenue of $7.62 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period last year, the company posted $0.96 earnings per share. On average, sell-side analysts predict 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. Investors 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. This represents a $1.55 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s payout ratio is currently 60.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered 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 analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.00.

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).