Canadian Natural Resources Limited $CNQ Shares Purchased by Amundi

Key Points

• Amundi increased its Canadian Natural Resources stake by 3.1% in the second quarter, acquiring 244,205 additional shares and bringing its holdings to 8.24 million shares valued at approximately $325.4 million.
• Analysts maintain a generally positive outlook, with seven Buy ratings and five Holds producing a consensus “Moderate Buy” rating and a $57.00 price target.
• Canadian Natural Resources reported quarterly earnings of $1.58 per share, surpassing estimates, and announced a quarterly dividend of $0.625 per share—an annualized yield of about 5.0%.

Amundi boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,238,632 shares of the oil and gas producer's stock after acquiring an additional 244,205 shares during the quarter. Amundi owned 0.40% of Canadian Natural Resources worth $325,426,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Axiom Investment Management LLC acquired a new stake in shares of Canadian Natural Resources during the 1st quarter worth approximately $29,000. Trust Co. of Vermont acquired a new position in shares of Canadian Natural Resources in the 2nd quarter valued at $26,000. CX Institutional purchased a new stake in Canadian Natural Resources during the second quarter worth $28,000. Sunbelt Securities Inc. purchased a new stake in Canadian Natural Resources during the fourth quarter worth $25,000. Finally, Manchester Capital Management LLC purchased a new stake in Canadian Natural Resources during the fourth quarter worth $28,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNQ. TD Securities reaffirmed a "buy" rating on shares of Canadian Natural Resources in a report on Friday, August 7th. Wall Street Zen raised shares of Canadian Natural Resources from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Scotiabank restated a "sector perform" rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Canadian Natural Resources in a research report on Thursday, August 27th. Finally, Zacks Research lowered Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 19th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $57.00.

Canadian Natural Resources Stock Down 0.0%

Shares of NYSE CNQ opened at $50.44 on Tuesday. The company's 50-day simple moving average is $46.20 and its 200-day simple moving average is $45.94. Canadian Natural Resources Limited has a 52-week low of $29.68 and a 52-week high of $52.24. The firm has a market cap of $104.03 billion, a price-to-earnings ratio of 12.45 and a beta of 0.47. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32.

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 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.15. The firm had revenue of $14.74 billion during the quarter, compared to the consensus estimate of $9.40 billion. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. Equities analysts predict that Canadian Natural Resources Limited will post 4.05 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.0%. Canadian Natural Resources's dividend payout ratio is presently 44.69%.

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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