Canadian Natural Resources Target of Unusually Large Options Trading (NYSE:CNQ)

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) saw unusually large options trading activity on Wednesday. Stock investors purchased 9,824 call options on the stock. This represents an increase of approximately 1,800% compared to the average daily volume of 517 call options.

Shares of NYSE:CNQ opened at $32.73 on Thursday. The firm has a fifty day moving average price of $35.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.63 and a current ratio of 0.81. Canadian Natural Resources has a one year low of $14.85 and a one year high of $38.10. The company has a market cap of $38.83 billion, a P/E ratio of 69.91 and a beta of 1.88.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, May 6th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.14. The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Canadian Natural Resources had a net margin of 11.49% and a return on equity of 2.27%. As a group, sell-side analysts forecast that Canadian Natural Resources will post 3.75 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 5th. Stockholders of record on Friday, June 18th were given a dividend of $0.3855 per share. The ex-dividend date of this dividend was Thursday, June 17th. This represents a $1.54 annualized dividend and a dividend yield of 4.71%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.37. Canadian Natural Resources’s dividend payout ratio (DPR) is -151.16%.

Several institutional investors have recently bought and sold shares of the company. Marathon Asset Management LLP raised its position in shares of Canadian Natural Resources by 110.2% during the 2nd quarter. Marathon Asset Management LLP now owns 3,254,298 shares of the oil and gas producer’s stock valued at $118,857,000 after buying an additional 1,706,074 shares in the last quarter. New England Research & Management Inc. purchased a new stake in shares of Canadian Natural Resources during the 2nd quarter valued at $245,000. KB Financial Partners LLC purchased a new stake in shares of Canadian Natural Resources during the 1st quarter valued at $25,000. Schroder Investment Management Group raised its position in shares of Canadian Natural Resources by 12.3% during the 1st quarter. Schroder Investment Management Group now owns 370,155 shares of the oil and gas producer’s stock valued at $14,380,000 after buying an additional 40,413 shares in the last quarter. Finally, Aperture Investors LLC purchased a new stake in shares of Canadian Natural Resources during the 1st quarter valued at $1,178,000. Hedge funds and other institutional investors own 67.48% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of Canadian Natural Resources from C$60.00 to C$64.50 and gave the stock a “buy” rating in a research note on Monday, June 28th. Wells Fargo & Company raised their price objective on shares of Canadian Natural Resources from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 30th. The Goldman Sachs Group raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $44.00 in a report on Friday, June 11th. Barclays raised their price objective on shares of Canadian Natural Resources from C$48.00 to C$51.00 and gave the stock an “overweight” rating in a report on Friday, July 16th. Finally, Scotiabank raised their price objective on shares of Canadian Natural Resources from C$50.00 to C$52.00 and gave the stock an “outperform” rating in a report on Thursday, July 15th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Canadian Natural Resources currently has a consensus rating of “Buy” and an average price target of $47.34.

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 synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.

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