Centiva Capital LP Grows Position in Canadian Natural Resources Limited (NYSE:CNQ)

Centiva Capital LP grew its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 85.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,584 shares of the oil and gas producer's stock after buying an additional 27,503 shares during the quarter. Centiva Capital LP's holdings in Canadian Natural Resources were worth $1,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Bridgefront Capital LLC purchased a new position in Canadian Natural Resources in the fourth quarter valued at about $276,000. Cary Street Partners Financial LLC purchased a new position in shares of Canadian Natural Resources during the 4th quarter valued at $366,000. Banque Transatlantique SA bought a new position in shares of Canadian Natural Resources in the fourth quarter worth $460,000. Bearing Point Capital LLC purchased a new stake in shares of Canadian Natural Resources in the fourth quarter worth $445,000. Finally, BNP Paribas Financial Markets raised its position in shares of Canadian Natural Resources by 66.5% in the fourth quarter. BNP Paribas Financial Markets now owns 239,932 shares of the oil and gas producer's stock worth $7,407,000 after buying an additional 95,793 shares in the last quarter. Institutional investors own 74.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CNQ shares. Evercore ISI upgraded Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Tudor Pickering cut shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Raymond James raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Canadian Natural Resources Price Performance

NYSE:CNQ traded up $0.65 during mid-day trading on Tuesday, reaching $32.07. The stock had a trading volume of 1,460,720 shares, compared to its average volume of 5,401,909. The stock has a market capitalization of $67.18 billion, a P/E ratio of 12.45 and a beta of 1.04. The firm has a 50 day moving average price of $29.06 and a two-hundred day moving average price of $30.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $38.86.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the firm posted $1.37 earnings per share. As a group, analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a $0.4227 dividend. The ex-dividend date is Friday, June 13th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a yield of 5.27%. Canadian Natural Resources's payout ratio is currently 63.92%.

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).