Canadian Natural Resources Limited (NYSE:CNQ) Shares Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. increased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 76.6% during the third quarter, HoldingsChannel.com reports. The fund owned 88,300 shares of the oil and gas producer’s stock after buying an additional 38,300 shares during the period. Polar Asset Management Partners Inc.’s holdings in Canadian Natural Resources were worth $2,933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Merewether Investment Management LP increased its position in shares of Canadian Natural Resources by 86.6% in the third quarter. Merewether Investment Management LP now owns 1,312,215 shares of the oil and gas producer’s stock worth $43,579,000 after acquiring an additional 608,815 shares in the last quarter. Murchinson Ltd. purchased a new stake in shares of Canadian Natural Resources in the 3rd quarter valued at approximately $262,000. HighTower Advisors LLC boosted its stake in Canadian Natural Resources by 24.3% in the 3rd quarter. HighTower Advisors LLC now owns 181,062 shares of the oil and gas producer’s stock worth $6,016,000 after purchasing an additional 35,417 shares during the period. Holocene Advisors LP purchased a new position in Canadian Natural Resources during the 3rd quarter worth approximately $13,700,000. Finally, Centiva Capital LP raised its stake in Canadian Natural Resources by 438.9% during the 3rd quarter. Centiva Capital LP now owns 32,081 shares of the oil and gas producer’s stock valued at $1,065,000 after purchasing an additional 26,128 shares during the period. 74.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Hold” and an average target price of $51.00.

Canadian Natural Resources Price Performance

CNQ opened at $33.25 on Friday. The stock has a fifty day moving average price of $34.63 and a 200 day moving average price of $35.08. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 1 year low of $29.45 and a 1 year high of $41.29. The stock has a market cap of $70.17 billion, a price-to-earnings ratio of 12.91 and a beta of 1.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results 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 business had revenue of $7.62 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $0.96 EPS. Analysts forecast that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.388 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.55 annualized dividend and a dividend yield of 4.67%. Canadian Natural Resources’s dividend payout ratio is 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).