Canadian Natural Resources Limited $CNQ Stock: Point Nemo Capital LLC Increases Holdings

Key Points

• Point Nemo Capital increased its CNQ stake by 17,154.8% in the third quarter, ending the period with 28,988 shares valued at about $1.36 million. Institutional investors and hedge funds collectively own 74.03% of the stock.
• Canadian Natural Resources reported quarterly EPS of $1.18, beating the $1.05 consensus, while revenue of $8.74 billion came in slightly below analysts’ $8.79 billion estimate. Analysts’ consensus rating is “Moderate Buy,” with a $57 price target.
• The company declared a quarterly dividend of C$0.62 per share, equivalent to an annualized yield of about 5.2% at the stock price cited in the article.

Point Nemo Capital LLC increased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 17,154.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,988 shares of the oil and gas producer's stock after buying an additional 28,820 shares during the quarter. Point Nemo Capital LLC's holdings in Canadian Natural Resources were worth $1,364,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Legacy Financial Advisors Inc. raised its position in Canadian Natural Resources by 3.0% in the second quarter. Legacy Financial Advisors Inc. now owns 7,447 shares of the oil and gas producer's stock valued at $294,000 after purchasing an additional 219 shares during the period. Allworth Financial LP grew its holdings in shares of Canadian Natural Resources by 2.5% during the 2nd quarter. Allworth Financial LP now owns 10,854 shares of the oil and gas producer's stock worth $429,000 after purchasing an additional 262 shares during the period. AdvisorNet Financial Inc increased its position in shares of Canadian Natural Resources by 2.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 15,084 shares of the oil and gas producer's stock worth $782,000 after purchasing an additional 291 shares during the last quarter. CoreCap Advisors LLC increased its position in shares of Canadian Natural Resources by 15.4% during the 2nd quarter. CoreCap Advisors LLC now owns 2,202 shares of the oil and gas producer's stock worth $87,000 after purchasing an additional 294 shares during the last quarter. Finally, Farrow Financial Inc. increased its position in shares of Canadian Natural Resources by 0.5% during the 1st quarter. Farrow Financial Inc. now owns 69,190 shares of the oil and gas producer's stock worth $3,372,000 after purchasing an additional 330 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on CNQ. Scotiabank restated a "sector perform" rating on shares of Canadian Natural Resources in a report on Monday, October 19th. Weiss Ratings raised shares of Canadian Natural Resources from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Raymond James Financial lowered shares of Canadian Natural Resources from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 14th. Wall Street Zen cut shares of Canadian Natural Resources from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Zacks Research raised shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

Canadian Natural Resources Trading Down 0.9%

Shares of NYSE CNQ opened at $48.49 on Friday. Canadian Natural Resources Limited has a twelve month low of $30.13 and a twelve month high of $56.27. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $50.82 and a 200-day simple moving average of $46.27. The stock has a market capitalization of $99.23 billion, a PE ratio of 9.94 and a beta of 0.45.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its earnings results on Thursday, November 5th. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.13. Canadian Natural Resources had a return on equity of 26.79% and a net margin of 25.24%. The firm had revenue of $8.74 billion for the quarter, compared to analyst estimates of $8.79 billion. On average, equities analysts forecast that Canadian Natural Resources Limited will post 4.10 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 15th will be paid a dividend of C$0.62 per share. The ex-dividend date is Tuesday, December 15th. This represents a $2.50 dividend on an annualized basis and a yield of 5.2%. Canadian Natural Resources's dividend payout ratio is 44.44%.

Canadian Natural Resources News Roundup

Here are the key news stories impacting Canadian Natural Resources this week:

• Positive Sentiment: Adjusted earnings were C$1.18 per share, above the C$1.05 consensus and up from C$0.62 a year earlier. Net profit reportedly rose to C$3 billion from C$600 million, supported by higher energy prices and production. CNQ beats Q3 earnings estimates
• Positive Sentiment: CNQ reached its net-debt target ahead of schedule and plans to accelerate share buybacks, adding to its dividend distributions. That may support shareholder returns. Earnings call highlights: buybacks and production outlook
• Positive Sentiment: The company declared a quarterly dividend of C$0.625 per share, payable January 5, 2027. Improved Horizon reliability and strong thermal production also underpin a more favorable fourth-quarter outlook. Quarterly dividend announcement Production outlook and reliability update
• Neutral Sentiment: Quarterly revenue of C$8.74 billion narrowly missed analysts’ C$8.79 billion estimate, despite the earnings beat. That modest shortfall may have tempered the market response. CNQ quarterly earnings report

About Canadian Natural Resources

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production and marketing of crude oil, natural gas and natural gas liquids. Its operations span several resource types and production methods, including oil sands mining and upgrading, thermal in situ projects, conventional oil and gas production, and offshore assets.

The company's principal operating areas are in Western Canada, the United Kingdom's North Sea and offshore Africa.

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