Brooklands Fund Management Ltd Makes New $2.60 Million Investment in Canadian Natural Resources Limited $CNQ

Key Points

• Brooklands Fund Management initiated a roughly $2.6 million position in Canadian Natural Resources during the third quarter by purchasing 54,694 shares. Institutional investors collectively own 74.03% of the company.
• Analysts maintain a generally positive outlook, with Canadian Natural Resources holding a consensus “Moderate Buy” rating and an average price target of $57.00.
• CNQ shares opened at $55.08, near their 52-week high of $55.49. The company recently reported quarterly EPS of $1.58, exceeding estimates, and pays an annualized dividend of approximately $2.50 per share, yielding 4.5%.

Brooklands Fund Management Ltd bought a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 54,694 shares of the oil and gas producer's stock, valued at approximately $2,599,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CNQ. D.A. Davidson & CO. lifted its holdings in Canadian Natural Resources by 4.9% during the 3rd quarter. D.A. Davidson & CO. now owns 16,327 shares of the oil and gas producer's stock worth $769,000 after buying an additional 756 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of Canadian Natural Resources by 1.0% in the 3rd quarter. Park Avenue Securities LLC now owns 46,104 shares of the oil and gas producer's stock worth $2,170,000 after acquiring an additional 469 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Canadian Natural Resources by 2.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 65,703 shares of the oil and gas producer's stock valued at $3,093,000 after acquiring an additional 1,585 shares during the last quarter. Peterson Wealth Services increased its holdings in shares of Canadian Natural Resources by 2.3% in the 3rd quarter. Peterson Wealth Services now owns 198,359 shares of the oil and gas producer's stock valued at $9,337,000 after acquiring an additional 4,554 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in shares of Canadian Natural Resources by 6.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 10,127 shares of the oil and gas producer's stock valued at $477,000 after acquiring an additional 632 shares during the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CNQ shares. Raymond James Financial lowered shares of Canadian Natural Resources from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 14th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, October 9th. Weiss Ratings raised shares of Canadian Natural Resources from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. Desjardins raised shares of Canadian Natural Resources to a "hold" rating in a report on Thursday, July 16th. Finally, Scotiabank restated a "sector perform" rating on shares of Canadian Natural Resources in a research note on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Canadian Natural Resources presently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $55.08 on Friday. The firm has a market capitalization of $113.18 billion, a PE ratio of 15.06 and a beta of 0.53. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $50.66 and a 200 day moving average price of $45.73. Canadian Natural Resources Limited has a 52-week low of $30.13 and a 52-week high of $55.49.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.15. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. The company had revenue of $14.74 billion for the quarter, compared to the consensus estimate of $9.40 billion. On average, sell-side analysts anticipate that Canadian Natural Resources Limited will post 4.10 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were issued a C$0.62 dividend. The ex-dividend date was Friday, September 11th. This represents a $2.50 annualized dividend and a dividend yield of 4.5%. Canadian Natural Resources's dividend payout ratio is 44.44%.

Canadian Natural Resources Profile

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. Its portfolio includes conventional and unconventional petroleum assets, heavy crude oil operations, and oil sands projects that produce bitumen and synthetic crude oil.

The company's principal operations are located in Western Canada, including oil sands and conventional assets in Alberta and natural gas properties in Alberta and British Columbia.

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