Canadian Natural Resources Target of Unusually Large Options Trading (CNQ)

Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) was the recipient of some unusual options trading on Wednesday. Investors purchased 5,041 call options on the company. This is an increase of 1,669% compared to the typical volume of 285 call options.

A number of equities analysts recently issued reports on CNQ shares. Tudor Pickering raised Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Thursday, January 24th. Credit Suisse Group started coverage on Canadian Natural Resources in a report on Monday, January 28th. They issued an “outperform” rating and a $48.00 price target for the company. Morgan Stanley reaffirmed a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, January 29th. CIBC reaffirmed a “buy” rating on shares of Canadian Natural Resources in a report on Saturday, February 2nd. Finally, Raymond James reiterated a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, February 8th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Canadian Natural Resources has an average rating of “Buy” and a consensus target price of $41.31.

Shares of NYSE CNQ opened at $26.83 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.57. Canadian Natural Resources has a twelve month low of $21.85 and a twelve month high of $37.41. The company has a market capitalization of $32.75 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 2.07 and a beta of 1.20.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, May 9th. The oil and gas producer reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.31. Canadian Natural Resources had a return on equity of 8.98% and a net margin of 13.50%. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the previous year, the business earned $0.71 earnings per share. As a group, sell-side analysts anticipate that Canadian Natural Resources will post 2.21 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.2794 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Thursday, June 13th. Canadian Natural Resources’s dividend payout ratio is currently 53.02%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cerebellum GP LLC lifted its stake in Canadian Natural Resources by 29.3% in the first quarter. Cerebellum GP LLC now owns 11,884 shares of the oil and gas producer’s stock valued at $327,000 after buying an additional 2,690 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Canadian Natural Resources by 3.5% during the first quarter. Nordea Investment Management AB now owns 53,875 shares of the oil and gas producer’s stock worth $1,976,000 after purchasing an additional 1,800 shares during the last quarter. FMR LLC raised its stake in shares of Canadian Natural Resources by 0.6% during the first quarter. FMR LLC now owns 11,664,118 shares of the oil and gas producer’s stock worth $320,244,000 after purchasing an additional 66,368 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Canadian Natural Resources by 16.0% during the first quarter. HighTower Advisors LLC now owns 70,585 shares of the oil and gas producer’s stock worth $1,936,000 after purchasing an additional 9,744 shares during the last quarter. Finally, PointState Capital LP purchased a new stake in shares of Canadian Natural Resources during the first quarter worth approximately $7,194,000. Institutional investors own 67.29% of the company’s stock.

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About Canadian Natural Resources

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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