Stock Traders Buy High Volume of Call Options on Canadian Natural Resources (NYSE:CNQ)

Canadian Natural Resources Limited (NYSE:CNQGet Rating) (TSE:CNQ) was the target of some unusual options trading on Friday. Stock traders acquired 15,256 call options on the stock. This represents an increase of approximately 466% compared to the typical volume of 2,695 call options.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CNQ shares. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, December 5th. Stifel Firstegy restated a “buy” rating on shares of Canadian Natural Resources in a report on Thursday, January 12th. TD Securities raised their price target on Canadian Natural Resources from C$92.00 to C$97.00 in a report on Thursday, December 1st. National Bank Financial raised their price target on Canadian Natural Resources from C$88.00 to C$105.00 in a report on Thursday, December 1st. Finally, Raymond James raised their price target on Canadian Natural Resources from C$85.00 to C$87.00 in a report on Friday, November 4th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.23.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock opened at $60.35 on Friday. The stock has a market cap of $66.56 billion, a price-to-earnings ratio of 7.50, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.78. The stock has a 50 day moving average price of $56.87 and a 200-day moving average price of $54.92. Canadian Natural Resources has a one year low of $44.45 and a one year high of $70.60.

Canadian Natural Resources (NYSE:CNQGet Rating) (TSE:CNQ) last issued its quarterly earnings results on Thursday, November 3rd. The oil and gas producer reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.28. Canadian Natural Resources had a return on equity of 34.75% and a net margin of 24.55%. The firm had revenue of $8.02 billion during the quarter, compared to analyst estimates of $7.98 billion. Equities analysts expect that Canadian Natural Resources will post 8.65 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Investors of record on Friday, December 16th were paid a dividend of $0.6237 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.58. This represents a $2.49 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend was Thursday, December 15th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 31.43%.

Institutional Investors Weigh In On Canadian Natural Resources

A number of institutional investors and hedge funds have recently modified their holdings of the business. Peterson Wealth Services lifted its stake in shares of Canadian Natural Resources by 5.3% during the 4th quarter. Peterson Wealth Services now owns 76,936 shares of the oil and gas producer’s stock worth $4,272,000 after acquiring an additional 3,898 shares during the last quarter. Strategic Investment Advisors MI bought a new stake in shares of Canadian Natural Resources during the 4th quarter worth approximately $294,000. Crossmark Global Holdings Inc. lifted its stake in shares of Canadian Natural Resources by 1.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 265,386 shares of the oil and gas producer’s stock worth $14,737,000 after acquiring an additional 4,748 shares during the last quarter. Pendal Group Ltd lifted its stake in shares of Canadian Natural Resources by 65.5% during the 4th quarter. Pendal Group Ltd now owns 103,257 shares of the oil and gas producer’s stock worth $5,734,000 after acquiring an additional 40,875 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Canadian Natural Resources by 51.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 6,910 shares of the oil and gas producer’s stock worth $384,000 after acquiring an additional 2,350 shares during the last quarter. 70.92% of the stock is owned by institutional investors.

Canadian Natural Resources Company Profile

(Get Rating)

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells 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.

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