Canadian Natural Resources Limited $CNQ Shares Acquired by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. raised its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 62.8% in the third quarter, HoldingsChannel reports. The firm owned 270,462 shares of the oil and gas producer’s stock after acquiring an additional 104,362 shares during the period. Canadian Natural Resources comprises about 1.6% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 18th largest holding. Triasima Portfolio Management inc.’s holdings in Canadian Natural Resources were worth $12,750,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Barometer Capital Management Inc. bought a new stake in Canadian Natural Resources during the 1st quarter valued at $6,198,000. Bank of New York Mellon Corp purchased a new position in shares of Canadian Natural Resources in the 2nd quarter valued at $117,215,000. WCM Investment Management LLC increased its holdings in shares of Canadian Natural Resources by 22.4% in the 1st quarter. WCM Investment Management LLC now owns 5,122,209 shares of the oil and gas producer’s stock valued at $252,883,000 after acquiring an additional 938,210 shares during the period. Quantitative Investment Management LLC purchased a new position in shares of Canadian Natural Resources in the 2nd quarter valued at $1,785,000. Finally, Amundi raised its position in shares of Canadian Natural Resources by 3.1% in the 2nd quarter. Amundi now owns 8,238,632 shares of the oil and gas producer’s stock worth $325,426,000 after acquiring an additional 244,205 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Trading Up 0.3%

NYSE CNQ opened at $51.96 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. The firm has a market cap of $106.78 billion, a PE ratio of 14.24 and a beta of 0.53. The company has a 50 day moving average price of $49.42 and a 200 day moving average price of $46.56. Canadian Natural Resources Limited has a 52 week low of $29.68 and a 52 week high of $52.57.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.15. The company had revenue of $14.74 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. As a group, sell-side analysts forecast that Canadian Natural Resources Limited will post 4.05 EPS for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were issued a C$0.62 dividend. This represents a $2.50 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Friday, September 11th. Canadian Natural Resources’s payout ratio is currently 44.44%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CNQ. Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Friday, August 7th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, October 9th. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Wall Street Zen upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development, production, marketing and transportation company headquartered in Calgary, Alberta. The company produces synthetic crude oil, conventional heavy and light crude oil, natural gas liquids and natural gas.

Its operations are concentrated in Western Canada and include oil sands mining and upgrading projects in northern Alberta, conventional and heavy-oil assets, and natural gas production.