Galibier Capital Management Ltd. Purchases 146,676 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Galibier Capital Management Ltd. grew its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 23.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 777,962 shares of the oil and gas producer’s stock after buying an additional 146,676 shares during the quarter. Canadian Natural Resources accounts for 5.8% of Galibier Capital Management Ltd.’s portfolio, making the stock its 11th largest position. Galibier Capital Management Ltd.’s holdings in Canadian Natural Resources were worth $25,862,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Wolfe Research initiated coverage on shares of Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $49.50.

Canadian Natural Resources Price Performance

NYSE CNQ traded down $0.08 during trading on Wednesday, hitting $34.33. 145,857 shares of the stock traded hands, compared to its average volume of 5,398,792. The firm has a 50-day simple moving average of $34.86 and a 200-day simple moving average of $35.87. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29. The company has a market capitalization of $73.05 billion, a P/E ratio of 13.71 and a beta of 1.50. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.26. The business had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. During the same period last year, the company posted $0.43 EPS. As a group, analysts predict that Canadian Natural Resources Limited will post 2.5 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. Shareholders of record on Friday, December 13th will be paid a dividend of $0.388 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a yield of 4.52%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s payout ratio is presently 66.14%.

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).