Intech Investment Management LLC Acquires 135,516 Shares of Canadian Natural Resources Limited $CNQ

Key Points

• Intech Investment Management LLC increased its stake in Canadian Natural Resources Limited by 43.7%, now holding 445,503 shares valued at $13.7 million.
• The company declared a quarterly dividend of $0.4269 per share, which marks an increase from the previous dividend and represents a 5.5% yield.
• Analyst ratings for the stock show a consensus of "Moderate Buy", with one analyst giving it a "Strong Buy" rating and a target price of $62.00.

Intech Investment Management LLC grew its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 43.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 445,503 shares of the oil and gas producer's stock after acquiring an additional 135,516 shares during the quarter. Intech Investment Management LLC's holdings in Canadian Natural Resources were worth $13,706,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of CNQ. Cetera Investment Advisers lifted its holdings in Canadian Natural Resources by 10.6% in the fourth quarter. Cetera Investment Advisers now owns 84,787 shares of the oil and gas producer's stock worth $2,617,000 after purchasing an additional 8,148 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in Canadian Natural Resources during the 4th quarter worth about $848,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Canadian Natural Resources by 2.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,235 shares of the oil and gas producer's stock worth $2,508,000 after buying an additional 2,067 shares during the period. Numerai GP LLC acquired a new stake in Canadian Natural Resources during the 4th quarter worth about $584,000. Finally, Malaga Cove Capital LLC lifted its position in shares of Canadian Natural Resources by 95.0% in the fourth quarter. Malaga Cove Capital LLC now owns 15,728 shares of the oil and gas producer's stock worth $486,000 after purchasing an additional 7,661 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Stock Performance

CNQ traded up $0.87 during trading on Tuesday, reaching $32.90. 2,319,436 shares of the company's stock were exchanged, compared to its average volume of 6,434,128. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $37.91. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $31.04 and a 200 day moving average price of $30.46. The company has a market capitalization of $68.67 billion, a P/E ratio of 11.65 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.07. The firm had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same quarter in the previous year, the company earned $0.88 earnings per share. As a group, analysts predict that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be issued a $0.4269 dividend. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, September 19th. Canadian Natural Resources's dividend payout ratio (DPR) is presently 60.64%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Zacks Research raised shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Raymond James Financial reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. Finally, Royal Bank Of Canada cut their price objective on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $62.00.

Canadian Natural Resources 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).