Acadian Asset Management LLC Has $12.65 Million Position in Canadian Natural Resources Limited $CNQ

Key Points

• Acadian Asset Management LLC increased its stake in Canadian Natural Resources Limited (NYSE:CNQ) by 294.3%, acquiring 411,166 shares valued at $12.65 million at the end of the first quarter.
• Canadian Natural Resources announced a quarterly dividend of $0.4269 per share, reflecting an increase from the previous dividend and representing a yield of 5.5%.
• Recent earnings results showed Canadian Natural Resources reporting $0.51 EPS, surpassing estimates, but revenue fell short of expectations at $6.39 billion.

Acadian Asset Management LLC lifted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 294.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 411,166 shares of the oil and gas producer's stock after purchasing an additional 306,900 shares during the quarter. Acadian Asset Management LLC's holdings in Canadian Natural Resources were worth $12,647,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CNQ. Investment Management Corp VA ADV raised its position in shares of Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 611 shares during the period. Versant Capital Management Inc raised its position in Canadian Natural Resources by 253.2% in the 1st quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after buying an additional 937 shares during the last quarter. Sierra Ocean LLC raised its position in Canadian Natural Resources by 104.0% in the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after buying an additional 800 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Canadian Natural Resources by 47.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer's stock valued at $51,000 after buying an additional 528 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in Canadian Natural Resources in the 1st quarter valued at approximately $56,000. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Stock Up 0.0%

NYSE:CNQ opened at $31.21 on Friday. The firm has a market capitalization of $65.14 billion, a price-to-earnings ratio of 11.07 and a beta of 1.03. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91. The stock's 50 day moving average price is $31.05 and its two-hundred day moving average price is $30.39. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.07. The firm had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same quarter in the previous year, the firm earned $0.88 EPS. Equities research analysts expect that Canadian Natural Resources Limited will post 2.45 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, October 3rd. Stockholders of record on Friday, September 19th will be paid a dividend of $0.4269 per share. The ex-dividend date is Friday, September 19th. This represents a $1.71 annualized dividend and a dividend yield of 5.5%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's dividend payout ratio is presently 60.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CNQ shares. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Royal Bank Of Canada dropped 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. Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Finally, Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

About Canadian Natural Resources

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).

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