Canadian Natural Resources Limited $CNQ Shares Acquired by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its stake in Canadian Natural Resources Limited by 13.0%, now owning approximately 41.77 million shares valued at about $1.29 billion.
• Canadian Natural Resources recently declared a quarterly dividend increase to $0.4269 per share, reflecting a 5.4% yield and a payout ratio of 60.64%.
• The company's stock is currently trading at $31.51 with a market capitalization of $65.83 billion, and it recently reported earnings of $0.51 per share, surpassing analyst estimates.

Canada Pension Plan Investment Board boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 13.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,769,153 shares of the oil and gas producer's stock after acquiring an additional 4,805,451 shares during the quarter. Canadian Natural Resources accounts for 1.2% of Canada Pension Plan Investment Board's holdings, making the stock its 14th largest position. Canada Pension Plan Investment Board owned approximately 1.99% of Canadian Natural Resources worth $1,285,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investment Management Corp VA ADV boosted its stake in shares of Canadian Natural Resources by 158.3% in the first 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 during the last quarter. Versant Capital Management Inc boosted its stake 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 during the last quarter. Sierra Ocean LLC raised its position 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 Canadian Natural Resources in the first quarter valued at $56,000. Finally, Cloud Capital Management LLC purchased a new stake in Canadian Natural Resources in the first quarter valued at $68,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Down 2.5%

NYSE CNQ traded down $0.80 during trading hours on Wednesday, hitting $31.21. 3,379,903 shares of the company were exchanged, compared to its average volume of 6,445,172. The company has a 50 day moving average of $31.17 and a two-hundred day moving average of $30.36. 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 Limited has a 52-week low of $24.65 and a 52-week high of $37.91. The firm has a market cap of $65.19 billion, a price-to-earnings ratio of 11.06 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued 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. 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 the consensus estimate of $8.97 billion. During the same quarter in the prior year, the business earned $0.88 EPS. Equities research analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be issued a dividend of $0.4269 per share. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date is Friday, September 19th. This represents a $1.71 annualized dividend and a yield of 5.5%. Canadian Natural Resources's dividend payout ratio (DPR) is currently 60.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CNQ shares. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Scotiabank restated an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Zacks Research upgraded Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Royal Bank Of Canada cut their price objective on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Canadian Natural Resources has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

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).