Canadian Natural Resources Limited (NYSE:CNQ) Shares Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Canadian Natural Resources Limited by 57.3% in the first quarter, owning 3,591,928 shares valued at approximately $110.63 million.
• Other institutional investors, including Canada Pension Plan Investment Board and Bank of Nova Scotia, also boosted their holdings, indicating growing confidence in the oil and gas producer.
• Canadian Natural Resources declared a quarterly dividend of $0.4269, representing a 5.6% yield and an increase from its previous dividend, highlighting its strong financial position.

Deutsche Bank AG boosted its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 57.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,591,928 shares of the oil and gas producer's stock after purchasing an additional 1,308,807 shares during the quarter. Deutsche Bank AG owned about 0.17% of Canadian Natural Resources worth $110,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CNQ. Goldman Sachs Group Inc. grew its holdings in shares of Canadian Natural Resources by 240.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,776,594 shares of the oil and gas producer's stock worth $701,519,000 after purchasing an additional 16,094,168 shares during the period. Bank of Nova Scotia raised its stake in shares of Canadian Natural Resources by 86.6% in the 1st quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer's stock valued at $746,675,000 after acquiring an additional 11,259,267 shares during the period. Canoe Financial LP lifted its holdings in shares of Canadian Natural Resources by 403.7% during the 1st quarter. Canoe Financial LP now owns 4,738,577 shares of the oil and gas producer's stock valued at $145,828,000 after acquiring an additional 3,797,846 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Canadian Natural Resources by 7.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock valued at $1,051,210,000 after purchasing an additional 2,312,437 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Canadian Natural Resources by 5.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer's stock valued at $1,139,753,000 after purchasing an additional 1,844,700 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CNQ. Raymond James Financial reiterated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Royal Bank Of Canada decreased their target price on shares of 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. National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Finally, Scotiabank restated 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 assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $62.00.

Canadian Natural Resources Stock Performance

NYSE:CNQ traded down $0.21 during trading hours on Thursday, reaching $29.74. 1,704,528 shares of the stock were exchanged, compared to its average volume of 6,449,976. The stock has a market capitalization of $62.12 billion, a P/E ratio of 10.55 and a beta of 1.05. The firm has a 50 day simple moving average of $31.73 and a 200-day simple moving average of $30.35. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, topping 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 firm had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. As a group, sell-side analysts forecast 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 will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be given a dividend of $0.4269 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a dividend yield of 5.7%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's payout ratio is currently 59.93%.

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).