Amundi Increases Stock Position in Canadian Natural Resources Limited $CNQ

Key Points

• Amundi increased its stake in Canadian Natural Resources Limited by 3.5%, acquiring an additional 244,835 shares, bringing its total holdings to approximately 7.3 million shares valued at $218.9 million.
• Canadian Natural Resources reported a quarterly EPS of $0.51, exceeding analysts' expectations of $0.44, while its revenue was $6.39 billion against an expected $8.97 billion.
• The company recently raised its quarterly dividend to $0.4269, resulting in an annualized yield of 5.4%, along with a dividend payout ratio of 60.64%.

Amundi boosted its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,332,187 shares of the oil and gas producer's stock after buying an additional 244,835 shares during the period. Amundi owned approximately 0.35% of Canadian Natural Resources worth $218,939,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Investment Management Corp VA ADV grew 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 grew 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 buying an additional 937 shares in the last quarter. Sierra Ocean LLC boosted its position in shares of Canadian Natural Resources by 104.0% during the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock worth $48,000 after acquiring an additional 800 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Canadian Natural Resources in the first quarter valued at approximately $56,000. Finally, Cloud Capital Management LLC bought a new position in Canadian Natural Resources in the 1st quarter valued at approximately $68,000. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Trading Up 0.5%

CNQ stock traded up $0.15 during midday trading on Wednesday, reaching $31.04. The company's stock had a trading volume of 1,700,863 shares, compared to its average volume of 6,457,600. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $37.91. The firm has a market capitalization of $64.79 billion, a price-to-earnings ratio of 11.01 and a beta of 1.03. The stock has a fifty day simple moving average of $31.10 and a two-hundred day simple moving average of $30.37. 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 (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. During the same quarter in the previous year, the firm earned $0.88 earnings per share. On average, equities research analysts predict that Canadian Natural Resources Limited will post 2.45 EPS for the current 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 given a $0.4269 dividend. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.5%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date is Friday, September 19th. Canadian Natural Resources's dividend payout ratio (DPR) is currently 60.64%.

Analyst Ratings Changes

A number of research firms have issued reports on CNQ. Zacks Research upgraded Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Royal Bank Of Canada reduced their price objective on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Raymond James Financial restated 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 note 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 issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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).