Graham Capital Management L.P. Boosts Stake in Canadian Natural Resources Limited $CNQ

Key Points

• Graham Capital Management L.P. increased its position in Canadian Natural Resources Limited by 57.4%, holding 419,001 shares valued at approximately $12.9 million as of its latest SEC filing.
• The company announced a quarterly dividend of $0.4269 per share, representing an annualized dividend of $1.71 and a dividend yield of 5.4%, up from the previous $0.42 dividend.
• Canadian Natural Resources reported earnings of $0.51 per share for the last quarter, surpassing analyst expectations, and had a revenue of $6.39 billion compared to estimates of $8.97 billion.

Graham Capital Management L.P. raised its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 57.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 419,001 shares of the oil and gas producer's stock after buying an additional 152,883 shares during the quarter. Graham Capital Management L.P.'s holdings in Canadian Natural Resources were worth $12,905,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CNQ. Northern Trust Corp increased its stake in shares of Canadian Natural Resources by 21.8% in the fourth quarter. Northern Trust Corp now owns 3,074,921 shares of the oil and gas producer's stock valued at $94,923,000 after buying an additional 551,109 shares during the period. Algert Global LLC increased its stake in shares of Canadian Natural Resources by 22.8% in the fourth quarter. Algert Global LLC now owns 56,154 shares of the oil and gas producer's stock valued at $1,732,000 after buying an additional 10,436 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Canadian Natural Resources by 66.5% in the fourth quarter. BNP Paribas Financial Markets now owns 239,932 shares of the oil and gas producer's stock valued at $7,407,000 after buying an additional 95,793 shares during the period. Bearing Point Capital LLC acquired a new position in shares of Canadian Natural Resources in the fourth quarter valued at approximately $445,000. Finally, Banque Transatlantique SA acquired a new position in shares of Canadian Natural Resources in the fourth quarter valued at approximately $460,000. 74.03% of the stock is owned by institutional investors.

Canadian Natural Resources Trading Up 0.4%

Canadian Natural Resources stock traded up $0.14 during trading hours on Thursday, reaching $31.37. The company had a trading volume of 4,811,596 shares, compared to its average volume of 6,457,113. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The company has a 50-day moving average price of $31.17 and a 200 day moving average price of $30.36. The firm has a market cap of $65.53 billion, a price-to-earnings ratio of 11.12 and a beta of 1.03. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $6.39 billion for the quarter, compared to analysts' expectations of $8.97 billion. During the same period in the previous year, the firm earned $0.88 EPS. Equities analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be given a dividend of $0.4269 per share. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Friday, September 19th. Canadian Natural Resources's dividend payout ratio is presently 60.64%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Royal Bank Of Canada cut their target price 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 reissued an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. 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 stock. Based on data from MarketBeat, Canadian Natural Resources presently has an average rating of "Moderate Buy" and an average 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).