Ninepoint Partners LP Buys 1,204,435 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Ninepoint Partners LP increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 63.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,090,334 shares of the oil and gas producer's stock after purchasing an additional 1,204,435 shares during the period. Canadian Natural Resources accounts for 14.9% of Ninepoint Partners LP's holdings, making the stock its biggest holding. Ninepoint Partners LP owned about 0.15% of Canadian Natural Resources worth $95,182,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. CoreFirst Bank & Trust purchased a new position in Canadian Natural Resources during the 4th quarter worth $31,000. Hurley Capital LLC purchased a new stake in shares of Canadian Natural Resources during the fourth quarter worth about $31,000. Versant Capital Management Inc raised its position in shares of Canadian Natural Resources by 253.2% in the 1st quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after purchasing an additional 937 shares during the last quarter. Huntington National Bank boosted its stake in Canadian Natural Resources by 64.1% in the 4th quarter. Huntington National Bank now owns 1,493 shares of the oil and gas producer's stock worth $46,000 after purchasing an additional 583 shares in the last quarter. Finally, Sierra Ocean LLC lifted its holdings in shares of Canadian Natural Resources by 104.0% during the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock worth $48,000 after purchasing an additional 800 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNQ has been the subject of a number of recent research reports. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Raymond James Financial raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Finally, Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $63.00.

Canadian Natural Resources Trading Down 0.9%

Shares of NYSE CNQ traded down $0.28 during midday trading on Friday, reaching $31.37. 2,792,817 shares of the stock were exchanged, compared to its average volume of 4,322,148. The stock has a 50 day moving average price of $31.70 and a 200-day moving average price of $30.40. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $37.91. The company has a market capitalization of $65.58 billion, a P/E ratio of 12.30 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. The firm had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $10.14 billion. Canadian Natural Resources had a net margin of 16.92% and a return on equity of 20.90%. During the same period in the previous year, the company posted $1.37 earnings per share. Equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a dividend of $0.4227 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date was Friday, June 13th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. Canadian Natural Resources's dividend payout ratio is currently 67.06%.

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).