Canadian Natural Resources Sees Unusually High Options Volume (NYSE:CNQ)

Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) was the target of some unusual options trading on Wednesday. Stock investors purchased 1,515 put options on the stock. This is an increase of approximately 1,022% compared to the average volume of 135 put options.

CNQ has been the topic of several research reports. Royal Bank of Canada reaffirmed an “average” rating and set a $45.00 price target on shares of Canadian Natural Resources in a research note on Friday, May 10th. Raymond James reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, May 10th. Scotiabank reissued a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, April 2nd. Mizuho began coverage on Canadian Natural Resources in a research note on Monday, March 11th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Zacks Investment Research raised Canadian Natural Resources from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $41.09.

Several institutional investors have recently made changes to their positions in CNQ. Vanguard Group Inc increased its holdings in shares of Canadian Natural Resources by 3.2% in the third quarter. Vanguard Group Inc now owns 33,721,656 shares of the oil and gas producer’s stock worth $1,101,349,000 after acquiring an additional 1,031,712 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Canadian Natural Resources by 71.7% in the fourth quarter. IFP Advisors Inc now owns 1,042 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 435 shares in the last quarter. Cigna Investments Inc. New increased its holdings in shares of Canadian Natural Resources by 7.6% in the fourth quarter. Cigna Investments Inc. New now owns 17,459 shares of the oil and gas producer’s stock worth $421,000 after acquiring an additional 1,232 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Canadian Natural Resources by 11.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 53,625 shares of the oil and gas producer’s stock worth $1,294,000 after acquiring an additional 5,538 shares in the last quarter. Finally, South Dakota Investment Council increased its holdings in shares of Canadian Natural Resources by 64.7% in the fourth quarter. South Dakota Investment Council now owns 257,651 shares of the oil and gas producer’s stock worth $6,217,000 after acquiring an additional 101,250 shares in the last quarter. Institutional investors own 64.88% of the company’s stock.

Shares of Canadian Natural Resources stock opened at $26.84 on Thursday. Canadian Natural Resources has a 1 year low of $21.85 and a 1 year high of $37.41. The stock has a market capitalization of $32.54 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 1.96 and a beta of 1.22. The company has a quick ratio of 0.57, a current ratio of 0.76 and a debt-to-equity ratio of 0.60.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 9th. The oil and gas producer reported $0.70 earnings per share (EPS) for the quarter, topping the 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 the consensus estimate of $3.73 billion. During the same period in the prior year, the company earned $0.71 earnings per share. On average, research analysts predict that Canadian Natural Resources will post 2.31 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.2794 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.12 annualized dividend and a dividend yield of 4.16%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 53.02%.

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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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