Stock Traders Purchase High Volume of Canadian Natural Resource Call Options (CNQ)

Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) saw some unusual options trading activity on Tuesday. Traders purchased 3,540 call options on the stock. This is an increase of approximately 849% compared to the typical daily volume of 373 call options.

Canadian Natural Resource (NYSE CNQ) traded up $1.07 during trading on Wednesday, reaching $31.72. 3,413,539 shares of the company were exchanged, compared to its average volume of 2,683,956. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 0.67. The company has a market cap of $37,510.00, a price-to-earnings ratio of 17.60, a PEG ratio of 2.61 and a beta of 1.36. Canadian Natural Resource has a twelve month low of $27.52 and a twelve month high of $37.63.

A number of institutional investors have recently bought and sold shares of the stock. Eagle Ridge Investment Management increased its holdings in Canadian Natural Resource by 4.3% during the 4th quarter. Eagle Ridge Investment Management now owns 34,741 shares of the oil and gas producer’s stock worth $1,241,000 after acquiring an additional 1,432 shares during the period. Private Advisor Group LLC increased its holdings in Canadian Natural Resource by 19.7% during the 3rd quarter. Private Advisor Group LLC now owns 9,180 shares of the oil and gas producer’s stock worth $303,000 after acquiring an additional 1,508 shares during the period. Telemus Capital LLC increased its holdings in Canadian Natural Resource by 16.5% during the 4th quarter. Telemus Capital LLC now owns 11,447 shares of the oil and gas producer’s stock worth $409,000 after acquiring an additional 1,620 shares during the period. Dividend Assets Capital LLC increased its holdings in Canadian Natural Resource by 0.3% during the 4th quarter. Dividend Assets Capital LLC now owns 824,906 shares of the oil and gas producer’s stock worth $29,465,000 after acquiring an additional 2,160 shares during the period. Finally, Greenleaf Trust increased its holdings in Canadian Natural Resource by 31.3% during the 4th quarter. Greenleaf Trust now owns 9,854 shares of the oil and gas producer’s stock worth $352,000 after acquiring an additional 2,348 shares during the period. 58.87% of the stock is currently owned by institutional investors and hedge funds.

CNQ has been the topic of several research reports. Canaccord Genuity reissued a “buy” rating and issued a $53.00 price target on shares of Canadian Natural Resource in a research report on Wednesday, November 8th. Zacks Investment Research lowered shares of Canadian Natural Resource from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. Morgan Stanley boosted their price target on shares of Canadian Natural Resource from $52.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. AltaCorp Capital reissued a “buy” rating and issued a $52.00 price target on shares of Canadian Natural Resource in a research report on Monday, January 15th. Finally, Wells Fargo & Co lowered shares of Canadian Natural Resource from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $47.71.

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Canadian Natural Resource Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

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