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Canadian Natural Resources Target of Abnormally High Options Trading (NYSE: CNQ)

Canadian Natural Resources Limited (NYSE: CNQ) (TSE: CNQ) received unusually large options trading activity on Wednesday. Stock traders purchased 49,829 call options on the stock. This corresponds to an increase of approx. 2,880% compared to the typical daily volume of 1,672 call options.

NYSE: CNQ traded around $ 0.96 on Wednesday to hit $ 36.99. 6,415,366 shares in the company were exchanged, compared to an average volume of 3,423,515 shares. The company has a debt of 0.55, a quick ratio of 0.63 and a current ratio of 0.81. The company has a market capitalization of $ 43.83 billion, a price / earnings ratio of 25.16, and a beta of 1.87. Canadian Natural Resources has a 52-week low of $ 14.85 and a 52-week high of $ 38.10. The company has a fifty-day moving average of $ 33.32.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 5th. Shareholders of record on Friday June 18 will receive a dividend of $ 0.3855 per share. This equates to an annual dividend of $ 1.54 and a yield of 4.17%. The ex-dividend date of this dividend is Thursday June 17th. This is a positive change from Canadian Natural Resources’ previous quarterly dividend of $ 0.37. Canadian Natural Resources’ current dividend payout ratio (DPR) is 151.16%.

CNQ has been the subject of several research reports. Credit Suisse Group downgraded Canadian Natural Resources from an “outperform” rating to a “neutral” rating and set a price target of $ 52.00 for the stock. in a report on Monday March 22nd. Desjardins raised its target price on shares in Canadian Natural Resources from $ 38.00 to $ 46.00 and rated the company as a “Buy” in a report on Monday, March 8th. Zacks Investment Research upgraded Canadian Natural Resources from a “strong sell” rating to a “strong buy” rating and a price target of $ 35.00 for the company in a report dated Wednesday March 10th firmly. Tudor Pickering reiterated a “buy” rating on shares of Canadian Natural Resources in a report dated Friday, May 7th. Finally, in a report dated Friday April 2, Barclays reiterated its “Buy” rating and issued a target price of $ 49.00 on the shares of Canadian Natural Resources. Three analysts have rated the stock with a hold rating, fourteen with a buy rating, and one with a strong buy rating for the company’s stock. The company has an average rating of “Buy” and an average price target of $ 45.12.


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A number of major investors recently changed their holdings in the company. KB Financial Partners LLC bought a new position in Canadian Natural Resources in the first quarter valued at approximately $ 25,000. Schroder Investment Management Group increased its position in Canadian Natural Resources stocks by 12.3% in the first quarter. Schroder Investment Management Group now owns 370,155 shares in the oil and gas producer valued at $ 14,380,000 after acquiring an additional 40,413 shares during the period. Aperture Investors LLC bought a new position in shares of Canadian Natural Resources in the first quarter valued at approximately $ 1,178,000. Pendal Group Limited bought a new position in shares of Canadian Natural Resources in the first quarter valued at approximately $ 983,000. Finally, CAMG Solamere Management LLC acquired a new position in Canadian Natural Resources shares valued at approximately $ 767,000 during the first quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

About Canadian Natural Resources

Canadian Natural Resources Limited purchases, explores, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude (SCO), light and medium crude, bitumen (thermal oil), primary heavy crude, and Pelican Lake heavy crude.

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