Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 3,540 call options on the stock. This represents an increase of 849% compared to the typical daily volume of 373 call options.
A number of hedge funds have recently made changes to their positions in CNQ. Mackenzie Financial Corp raised its position in Canadian Natural Resource by 64.3% in the fourth quarter. Mackenzie Financial Corp now owns 10,423,026 shares of the oil and gas producer’s stock worth $372,310,000 after acquiring an additional 4,080,120 shares during the period. The Manufacturers Life Insurance Company raised its position in Canadian Natural Resource by 39.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 10,882,795 shares of the oil and gas producer’s stock worth $388,734,000 after acquiring an additional 3,074,138 shares during the period. Picton Mahoney Asset Management bought a new stake in Canadian Natural Resource in the fourth quarter worth about $112,571,000. TD Asset Management Inc. raised its position in Canadian Natural Resource by 6.5% in the third quarter. TD Asset Management Inc. now owns 23,511,155 shares of the oil and gas producer’s stock worth $785,617,000 after acquiring an additional 1,437,849 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Canadian Natural Resource by 11.1% in the third quarter. Ameriprise Financial Inc. now owns 10,842,877 shares of the oil and gas producer’s stock worth $363,126,000 after acquiring an additional 1,080,838 shares during the period. 58.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Canadian Natural Resource (NYSE:CNQ) traded up $1.07 during mid-day trading on Wednesday, reaching $31.72. 3,413,539 shares of the company’s stock traded hands, compared to its average volume of 2,683,956. The company has a market capitalization of $37,510.00, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 2.61 and a beta of 1.36. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.67. Canadian Natural Resource has a twelve month low of $27.52 and a twelve month high of $37.63.
Canadian Natural Resource Company Profile
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.
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