Twin Tree Management LP Boosts Stake in Canadian Natural Resources Limited $CNQ

Key Points

• Twin Tree Management LP increased its stake in Canadian Natural Resources Limited by 21.0%, now holding 150,033 shares valued at approximately $4.71 million.
• Canadian Natural Resources announced a quarterly dividend of $0.4269, raising its annualized dividend to $1.71 with a yield of 5.6%.
• Analysts generally rate Canadian Natural Resources as a Moderate Buy, with a consensus price target of $62.00.

Twin Tree Management LP raised its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 21.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 150,033 shares of the oil and gas producer's stock after buying an additional 26,073 shares during the period. Twin Tree Management LP's holdings in Canadian Natural Resources were worth $4,711,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Canadian Natural Resources by 8.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,803 shares of the oil and gas producer's stock worth $1,134,000 after purchasing an additional 2,756 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Canadian Natural Resources in the first quarter valued at approximately $757,000. Clarius Group LLC grew its holdings in Canadian Natural Resources by 17.5% during the first quarter. Clarius Group LLC now owns 9,150 shares of the oil and gas producer's stock valued at $282,000 after purchasing an additional 1,362 shares during the period. Institute for Wealth Management LLC. purchased a new stake in Canadian Natural Resources in the first quarter worth $385,000. Finally, Canoe Financial LP raised its stake in shares of Canadian Natural Resources by 403.7% in the first quarter. Canoe Financial LP now owns 4,738,577 shares of the oil and gas producer's stock valued at $145,828,000 after buying an additional 3,797,846 shares during the period. Hedge funds and other institutional investors own 74.03% of the company's stock.

Analyst Ratings Changes

CNQ has been the subject of several analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a report on Thursday, October 9th. Royal Bank Of Canada reissued an "outperform" rating and issued a $62.00 price target on shares of Canadian Natural Resources in a report on Wednesday, September 24th. Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Finally, TD Securities reissued a "buy" rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $30.23 on Friday. The stock has a market cap of $63.09 billion, a PE ratio of 10.72 and a beta of 0.97. The company's fifty day moving average is $31.32 and its 200 day moving average is $30.86. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $35.93. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.07. The company had revenue of $6.39 billion for the quarter, compared to analysts' expectations of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same quarter last year, the company earned $0.88 EPS. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 19th were given a $0.4269 dividend. This represents a $1.71 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Friday, September 19th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's dividend payout ratio is 60.64%.

Canadian Natural Resources Company Profile

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).

Want to see what other hedge funds are holding CNQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.