Arosa Capital Management LP Invests $1.86 Million in Canadian Natural Resources Limited (NYSE:CNQ)

Arosa Capital Management LP bought a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 56,000 shares of the oil and gas producer’s stock, valued at approximately $1,860,000. Canadian Natural Resources accounts for approximately 0.7% of Arosa Capital Management LP’s portfolio, making the stock its 25th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. RFP Financial Group LLC boosted its position in shares of Canadian Natural Resources by 98.3% during the 2nd 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 in the last quarter. Park Place Capital Corp increased 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 acquiring an additional 358 shares in the last quarter. Sugarloaf Wealth Management LLC raised its position in shares of 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 period. Bruce G. Allen Investments LLC lifted its holdings in shares of Canadian Natural Resources by 91.6% in the 2nd 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 in the last quarter. Finally, GAMMA Investing LLC grew its position in Canadian Natural Resources by 104.7% in the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 447 shares during the period. 74.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CNQ shares. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a 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. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.00.

Canadian Natural Resources Stock Up 0.9 %

CNQ opened at $33.82 on Monday. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week 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 company’s 50-day moving average is $34.65 and its 200 day moving average is $35.17. The firm has a market capitalization of $71.37 billion, a P/E ratio of 13.13 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. The firm had revenue of $7.62 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $0.96 EPS. Research analysts expect that Canadian Natural Resources Limited will post 2.47 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.388 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.59%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s payout ratio is presently 60.58%.

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).