Cypress Capital Group Makes New Investment in Canadian Natural Resources Limited $CNQ

Key Points

• Cypress Capital Group acquired a new stake in Canadian Natural Resources Limited, purchasing 93,500 shares valued at approximately $2.9 million during Q2.
• Analysts have a consensus rating of "Moderate Buy" for CNQ shares, noting one "Strong Buy," five "Buy," and three "Hold" ratings, with an average target price of $62.00.
• Canadian Natural Resources recently increased its quarterly dividend to $0.4269, representing an annualized dividend of $1.71 with a yield of 5.4%.

Cypress Capital Group purchased a new stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 93,500 shares of the oil and gas producer's stock, valued at approximately $2,936,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC lifted its position in shares of Canadian Natural Resources by 10.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 74,780 shares of the oil and gas producer's stock valued at $2,348,000 after acquiring an additional 6,803 shares during the period. Lincluden Management Ltd. increased its stake in Canadian Natural Resources by 562.7% in the second quarter. Lincluden Management Ltd. now owns 748,302 shares of the oil and gas producer's stock valued at $23,497,000 after purchasing an additional 635,393 shares in the last quarter. Louisbourg Investments Inc. raised its holdings in shares of Canadian Natural Resources by 4.2% during the second quarter. Louisbourg Investments Inc. now owns 181,202 shares of the oil and gas producer's stock valued at $5,685,000 after purchasing an additional 7,336 shares during the period. PDS Planning Inc boosted its position in shares of Canadian Natural Resources by 5.1% during the 2nd quarter. PDS Planning Inc now owns 10,798 shares of the oil and gas producer's stock worth $339,000 after purchasing an additional 520 shares in the last quarter. Finally, Wealthstar Advisors LLC acquired a new stake in shares of Canadian Natural Resources in the 2nd quarter valued at about $589,000. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CNQ shares. Raymond James Financial reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research report on Thursday. Weiss Ratings reissued a "hold (c)" rating on shares of Canadian Natural Resources in a research report on Wednesday, October 8th. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Finally, Zacks Research upgraded shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

Canadian Natural Resources Price Performance

CNQ opened at $31.43 on Monday. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $37.91. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. The company has a market capitalization of $65.59 billion, a price-to-earnings ratio of 11.14 and a beta of 0.97. The firm's fifty day moving average price is $31.33 and its two-hundred day moving average price is $30.85.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The company had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. During the same period last year, the firm earned $0.88 earnings per share. As a group, analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 19th were issued a $0.4269 dividend. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, September 19th. Canadian Natural Resources's dividend payout ratio is currently 60.64%.

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).

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