Dynamic Technology Lab Private Ltd Takes $1.49 Million Position in Canadian Natural Resources Ltd (CNQ)

Dynamic Technology Lab Private Ltd bought a new position in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 45,552 shares of the oil and gas producer’s stock, valued at approximately $1,488,000.

A number of other hedge funds have also recently modified their holdings of CNQ. Legacy Financial Advisors Inc. bought a new position in Canadian Natural Resources in the third quarter worth $148,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Canadian Natural Resources during the third quarter valued at $153,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Canadian Natural Resources by 50.0% during the second quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock valued at $195,000 after acquiring an additional 1,800 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Canadian Natural Resources by 19,853.3% during the third quarter. Tower Research Capital LLC TRC now owns 5,986 shares of the oil and gas producer’s stock valued at $197,000 after acquiring an additional 5,956 shares during the period. Finally, Checchi Capital Advisers LLC bought a new position in shares of Canadian Natural Resources during the third quarter valued at $212,000. 66.30% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE CNQ opened at $26.93 on Friday. The firm has a market cap of $31.82 billion, a price-to-earnings ratio of 10.39, a P/E/G ratio of 1.68 and a beta of 1.34. Canadian Natural Resources Ltd has a 52-week low of $24.02 and a 52-week high of $38.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.69.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.45. Canadian Natural Resources had a return on equity of 12.33% and a net margin of 15.94%. The business had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same period in the previous year, the business posted $0.19 earnings per share. As a group, sell-side analysts predict that Canadian Natural Resources Ltd will post 2.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Monday, December 10th will be issued a $0.255 dividend. The ex-dividend date is Friday, December 7th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.79%. Canadian Natural Resources’s dividend payout ratio is 124.10%.

A number of brokerages have issued reports on CNQ. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a report on Friday. Citigroup cut their price objective on Canadian Natural Resources from $38.00 to $29.00 and set a “neutral” rating for the company in a report on Friday. BMO Capital Markets reissued a “buy” rating on shares of Canadian Natural Resources in a report on Thursday. Morgan Stanley cut their price objective on Canadian Natural Resources from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, November 20th. Finally, Zacks Investment Research cut Canadian Natural Resources from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. Canadian Natural Resources presently has an average rating of “Buy” and a consensus target price of $43.23.

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Canadian Natural Resources Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

Further Reading: How to invest in a bear market

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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