Concentric Capital Strategies LP Invests $7.15 Million in Canadian Natural Resources Limited (NYSE:CNQ)

Concentric Capital Strategies LP purchased a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 215,238 shares of the oil and gas producer’s stock, valued at approximately $7,148,000.

A number of other hedge funds have also recently bought and sold shares of the business. RFP Financial Group LLC boosted its stake in shares of Canadian Natural Resources by 98.3% during 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. Park Place Capital Corp raised 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 acquiring an additional 358 shares in the last quarter. Sugarloaf Wealth Management LLC boosted 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 valued at $26,000 after acquiring an additional 364 shares during the last quarter. First Horizon Advisors Inc. boosted its stake 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 valued at $32,000 after acquiring an additional 376 shares during the last quarter. Finally, Moloney Securities Asset Management LLC increased its position in shares of 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 worth $242,000 after purchasing an additional 376 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CNQ shares. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $51.00.

Canadian Natural Resources Stock Up 0.9 %

Shares of CNQ stock opened at $33.82 on Monday. The business’s fifty day moving average is $34.65 and its 200-day moving average is $35.17. 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 $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 quick ratio of 0.53 and a current ratio of 0.84.

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 for the quarter, topping 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 firm had revenue of $7.62 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period last year, the firm posted $0.96 earnings per share. Equities analysts expect that Canadian Natural Resources Limited will post 2.47 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 4.59%. This is a boost 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%.

About Canadian Natural Resources

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).