Brooklands Fund Management Ltd Invests $5.36 Million in Canadian Natural Resources Limited $CNQ

Key Points

• Brooklands Fund Management opened a new position in Canadian Natural Resources, buying 143,911 shares worth about $5.36 million. The stake now represents roughly 0.7% of Brooklands’ portfolio and is its 8th largest holding.
• Institutional ownership remains very high, with 74.03% of shares held by institutions and hedge funds. Several large investors, including Capital Research Global Investors and Vanguard, also increased their holdings in the company.
• Canadian Natural Resources reported better-than-expected quarterly earnings and announced a quarterly dividend of $0.625 per share, or $2.50 annually, for a yield of about 5.7%. Analysts currently have a consensus rating of Moderate Buy with an average price target of $57.00.

Brooklands Fund Management Ltd acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 143,911 shares of the oil and gas producer's stock, valued at approximately $5,355,000. Canadian Natural Resources makes up about 0.7% of Brooklands Fund Management Ltd's portfolio, making the stock its 8th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital Research Global Investors raised its holdings in shares of Canadian Natural Resources by 31.5% during the fourth quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer's stock worth $4,956,204,000 after acquiring an additional 35,067,143 shares during the period. Vanguard Group Inc. raised its holdings in shares of Canadian Natural Resources by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 93,305,198 shares of the oil and gas producer's stock worth $3,160,340,000 after acquiring an additional 818,809 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Canadian Natural Resources by 3.2% during the fourth quarter. Fisher Asset Management LLC now owns 42,745,981 shares of the oil and gas producer's stock worth $1,446,951,000 after acquiring an additional 1,342,954 shares during the period. Geode Capital Management LLC raised its holdings in shares of Canadian Natural Resources by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 20,518,621 shares of the oil and gas producer's stock worth $710,119,000 after acquiring an additional 1,347,844 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Canadian Natural Resources by 1.9% during the fourth quarter. JPMorgan Chase & Co. now owns 14,308,539 shares of the oil and gas producer's stock worth $484,344,000 after acquiring an additional 260,746 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Zacks Research cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Royal Bank Of Canada boosted their target price on Canadian Natural Resources from $61.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, March 6th. The Goldman Sachs Group boosted their target price on Canadian Natural Resources from $37.00 to $49.00 and gave the company a "buy" rating in a research note on Thursday, March 12th. ATB Cormark Capital Markets cut Canadian Natural Resources from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, March 5th. Finally, Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $57.00.

Canadian Natural Resources Stock Down 2.8%

NYSE:CNQ opened at $44.04 on Tuesday. The firm has a market capitalization of $91.67 billion, a price-to-earnings ratio of 13.15 and a beta of 0.45. Canadian Natural Resources Limited has a twelve month low of $29.30 and a twelve month high of $51.34. The stock's 50 day moving average price is $46.39 and its two-hundred day moving average price is $41.51. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same quarter in the previous year, the firm earned $1.16 EPS. Equities research analysts expect that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.50 annualized dividend and a dividend yield of 5.7%. Canadian Natural Resources's payout ratio is 54.63%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited NYSE: CNQ is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company's operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.

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