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

Polar Asset Management Partners Inc. lifted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 76.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 88,300 shares of the oil and gas producer’s stock after buying an additional 38,300 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Canadian Natural Resources were worth $2,933,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Holocene Advisors LP acquired a new stake in Canadian Natural Resources in the third quarter worth $13,700,000. Lighthouse Investment Partners LLC bought a new position in shares of Canadian Natural Resources during the second quarter worth about $890,000. Canoe Financial LP increased its holdings in shares of Canadian Natural Resources by 226.0% in the 3rd quarter. Canoe Financial LP now owns 1,549,610 shares of the oil and gas producer’s stock worth $51,469,000 after acquiring an additional 1,074,199 shares during the period. Cerity Partners LLC lifted its position in Canadian Natural Resources by 112.8% in the 3rd quarter. Cerity Partners LLC now owns 453,393 shares of the oil and gas producer’s stock valued at $15,057,000 after purchasing an additional 240,354 shares during the last quarter. Finally, Aigen Investment Management LP boosted its stake in Canadian Natural Resources by 123.0% during the 3rd quarter. Aigen Investment Management LP now owns 54,323 shares of the oil and gas producer’s stock valued at $1,804,000 after purchasing an additional 29,961 shares during the period. 74.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Canadian Natural Resources Trading Up 0.4 %

Canadian Natural Resources stock opened at $33.25 on Friday. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29. The stock has a market capitalization of $70.17 billion, a PE ratio of 12.91 and a beta of 1.47. The firm has a 50 day simple moving average of $34.63 and a 200-day simple moving average of $35.08. 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 (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.30. The company had revenue of $7.62 billion for 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 period last year, the firm earned $0.96 EPS. As a group, equities research analysts expect 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. Shareholders of record on Friday, December 13th will be given a $0.388 dividend. The ex-dividend date is Friday, December 13th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a yield of 4.67%. Canadian Natural Resources’s payout ratio is 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).