Canadian Natural Resources Limited $CNQ Shares Bought by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its stake in Canadian Natural Resources Limited by 1.9%, owning approximately 31.8 million shares valued at around $980 million.
• Several other institutional investors significantly boosted their holdings, with notable increases from Investment Management Corp VA ADV (158.3%) and Versant Capital Management Inc (253.2%) during the same quarter.
• Canadian Natural Resources recently declared a quarterly dividend of $0.4269, marking an increase from its previous dividend and delivering an annualized yield of 5.7%.

1832 Asset Management L.P. boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,822,379 shares of the oil and gas producer's stock after buying an additional 603,101 shares during the quarter. Canadian Natural Resources makes up 0.9% of 1832 Asset Management L.P.'s holdings, making the stock its 12th biggest position. 1832 Asset Management L.P. owned about 1.52% of Canadian Natural Resources worth $980,129,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV boosted its stake in shares of Canadian Natural Resources by 158.3% during the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after acquiring an additional 611 shares in the last quarter. Versant Capital Management Inc boosted its position in Canadian Natural Resources by 253.2% during the first quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock worth $40,000 after purchasing an additional 937 shares in the last quarter. Sierra Ocean LLC grew its holdings in Canadian Natural Resources by 104.0% in the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after purchasing an additional 800 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of Canadian Natural Resources in the first quarter valued at approximately $56,000. Finally, Cloud Capital Management LLC acquired a new position in shares of Canadian Natural Resources during the 1st quarter worth approximately $68,000. Hedge funds and other institutional investors own 74.03% of the company's stock.

Wall Street Analyst Weigh In

CNQ has been the topic of a number of recent analyst reports. Royal Bank Of Canada decreased their target price on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. National Bankshares reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Canadian Natural Resources currently has an average rating of "Moderate Buy" and an average target price of $62.00.

Canadian Natural Resources Price Performance

Shares of CNQ stock traded up $0.57 during trading hours on Wednesday, reaching $31.06. The company had a trading volume of 1,825,742 shares, compared to its average volume of 6,430,975. The stock has a fifty day moving average of $31.29 and a 200-day moving average of $30.32. The company has a market capitalization of $64.88 billion, a price-to-earnings ratio of 11.00 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.The business had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. During the same period last year, the company earned $0.88 EPS. On average, equities analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be paid a $0.4269 dividend. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.71 annualized dividend and a dividend yield of 5.5%. Canadian Natural Resources's dividend payout ratio is currently 59.93%.

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).