3G Capital Partners LP raised its stake in Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) by 50.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500,000 shares of the oil and gas producer’s stock after acquiring an additional 500,000 shares during the period. Canadian Natural Resource makes up about 4.6% of 3G Capital Partners LP’s portfolio, making the stock its 5th biggest holding. 3G Capital Partners LP owned approximately 0.12% of Canadian Natural Resource worth $50,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Korea Investment CORP raised its holdings in Canadian Natural Resource by 3.4% in the 3rd quarter. Korea Investment CORP now owns 805,050 shares of the oil and gas producer’s stock valued at $26,900,000 after acquiring an additional 26,584 shares in the last quarter. Shell Asset Management Co. raised its holdings in Canadian Natural Resource by 176.5% in the 3rd quarter. Shell Asset Management Co. now owns 293,011 shares of the oil and gas producer’s stock valued at $12,749,000 after acquiring an additional 187,038 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Canadian Natural Resource in the 2nd quarter valued at $290,000. BlueCrest Capital Management Ltd raised its holdings in Canadian Natural Resource by 22.7% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 298,092 shares of the oil and gas producer’s stock valued at $8,597,000 after acquiring an additional 55,053 shares in the last quarter. Finally, CI Investments Inc. acquired a new position in Canadian Natural Resource in the 3rd quarter valued at $18,369,000. 59.41% of the stock is owned by hedge funds and other institutional investors.
Canadian Natural Resource Ltd (CNQ) traded up $0.82 during trading on Tuesday, hitting $36.54. The stock had a trading volume of 2,066,133 shares, compared to its average volume of 1,980,000. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.71 and a quick ratio of 0.56. Canadian Natural Resource Ltd has a 12 month low of $27.52 and a 12 month high of $36.79. The firm has a market cap of $44,630.00, a PE ratio of 20.64, a P/E/G ratio of 9.25 and a beta of 1.46.
The firm also recently declared a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Tuesday, December 12th were issued a dividend of $0.214 per share. The ex-dividend date of this dividend was Monday, December 11th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.34%. Canadian Natural Resource’s dividend payout ratio (DPR) is currently 48.59%.
Several brokerages have weighed in on CNQ. Zacks Investment Research cut Canadian Natural Resource from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Canaccord Genuity reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Canadian Natural Resource in a report on Tuesday, September 5th. Finally, Morgan Stanley boosted their price target on Canadian Natural Resource from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.71.
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Canadian Natural Resource 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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