Alyeska Investment Group L.P. Has $18.22 Million Stock Holdings in Canadian Natural Resources Limited $CNQ

Key Points

• Alyeska Investment Group L.P. significantly reduced its holdings in Canadian Natural Resources Limited by 65.7%, selling over a million shares during the first quarter.
• Despite this sell-off, several other investors increased their stakes in CNQ, highlighting a mixed sentiment among institutional investors, with approximately 74.03% of the stock owned by institutional and hedge funds.
• Canadian Natural Resources announced an increase in its quarterly dividend to $0.4269 per share, representing a yield of 5.4%, signaling confidence in its financial performance.

Alyeska Investment Group L.P. cut its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 65.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 591,617 shares of the oil and gas producer's stock after selling 1,133,343 shares during the quarter. Alyeska Investment Group L.P.'s holdings in Canadian Natural Resources were worth $18,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Brandywine Global Investment Management LLC lifted its stake in shares of Canadian Natural Resources by 27.5% in the 1st quarter. Brandywine Global Investment Management LLC now owns 2,183,598 shares of the oil and gas producer's stock valued at $67,201,000 after acquiring an additional 470,391 shares during the last quarter. Sei Investments Co. increased its holdings in Canadian Natural Resources by 41.9% in the 1st quarter. Sei Investments Co. now owns 49,307 shares of the oil and gas producer's stock worth $1,519,000 after purchasing an additional 14,561 shares in the last quarter. Graybill Wealth Management LTD. bought a new position in Canadian Natural Resources in the first quarter valued at about $3,697,000. Janney Montgomery Scott LLC bought a new position in Canadian Natural Resources in the first quarter valued at about $757,000. Finally, PKO Investment Management Joint Stock Co acquired a new stake in shares of Canadian Natural Resources during the fourth quarter valued at about $2,452,000. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Trading Down 3.2%

CNQ stock traded down $1.01 during midday trading on Friday, hitting $30.36. The stock had a trading volume of 8,461,742 shares, compared to its average volume of 5,727,782. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. The firm has a market cap of $63.41 billion, a P/E ratio of 10.76 and a beta of 1.03. The business has a fifty day moving average price of $31.13 and a two-hundred day moving average price of $30.37. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, topping the consensus estimate of $0.44 by $0.07. The business had revenue of $6.39 billion during the quarter, compared to analysts' expectations of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same quarter last year, the firm posted $0.88 earnings per share. On average, sell-side 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be given 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 of this dividend is Friday, September 19th. This represents a $1.71 annualized dividend and a dividend yield of 5.6%. Canadian Natural Resources's payout ratio is 60.64%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CNQ shares. Royal Bank Of Canada lowered their price objective on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Zacks Research upgraded shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock 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).