Olympiad Research LP Grows Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Olympiad Research LP grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 26.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,320 shares of the oil and gas producer’s stock after buying an additional 3,990 shares during the quarter. Olympiad Research LP’s holdings in Canadian Natural Resources were worth $642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CNQ. Park Place Capital Corp boosted its stake in shares of Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 358 shares during the last quarter. RFP Financial Group LLC lifted its stake in Canadian Natural Resources by 98.3% during the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its stake in Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in Canadian Natural Resources by 91.6% during the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 415 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Canadian Natural Resources by 104.7% during the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNQ has been the topic of several research analyst reports. Wolfe Research initiated coverage on Canadian Natural Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.00.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $34.65 on Thursday. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The firm has a market capitalization of $73.22 billion, a price-to-earnings ratio of 13.45 and a beta of 1.50. The business has a 50 day simple moving average of $34.59 and a 200 day simple moving average of $35.70.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The company had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same period last year, the company earned $0.96 earnings per share. On average, equities research analysts anticipate that Canadian Natural Resources Limited will post 2.4 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.388 dividend. The ex-dividend date is Friday, December 13th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a dividend yield of 4.48%. Canadian Natural Resources’s dividend payout ratio (DPR) is 60.58%.

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).