Canadian Natural Resources Limited $CNQ Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Canadian Natural Resources Limited by 18.5%, purchasing an additional 1,295,724 shares, now holding approximately 0.40% of the company valued at $255 million.
• Canadian Natural Resources has recently upgraded its quarterly dividend to $0.4269 per share, representing an annualized yield of 5.8%.
• The company reported earnings per share of $0.51 for the last quarter, exceeding estimates by $0.07, despite revenue falling short of expectations at $6.39 billion.

Dimensional Fund Advisors LP increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 18.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,283,008 shares of the oil and gas producer's stock after buying an additional 1,295,724 shares during the quarter. Dimensional Fund Advisors LP owned about 0.40% of Canadian Natural Resources worth $255,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its holdings in shares of Canadian Natural Resources by 240.8% in 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 holdings 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 worth $746,675,000 after purchasing an additional 11,259,267 shares during the period. Canoe Financial LP raised its holdings in shares of Canadian Natural Resources by 403.7% in the 1st quarter. Canoe Financial LP now owns 4,738,577 shares of the oil and gas producer's stock worth $145,828,000 after purchasing an additional 3,797,846 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of 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 worth $1,051,210,000 after purchasing an additional 2,312,437 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Canadian Natural Resources in the 1st quarter worth about $68,342,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Up 3.1%

Shares of CNQ stock traded up $0.9450 during trading hours on Friday, reaching $31.1050. The company had a trading volume of 6,376,181 shares, compared to its average volume of 4,555,778. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91. The company has a market capitalization of $64.98 billion, a P/E ratio of 11.03 and a beta of 1.05. The stock's fifty day simple moving average is $31.41 and its 200 day simple moving average is $30.31.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.The business had revenue of $6.39 billion during the quarter, compared to analyst estimates of $8.97 billion. During the same quarter last year, the firm earned $0.88 earnings per share. As a group, sell-side 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 will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be paid a dividend of $0.4269 per share. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date is Friday, September 19th. This represents a $1.71 dividend on an annualized basis and a yield of 5.5%. Canadian Natural Resources's payout ratio is 60.64%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Scotiabank restated 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 report on Thursday, July 17th. Raymond James Financial restated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Finally, Royal Bank Of Canada cut their price objective on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $62.00.

Canadian Natural Resources Company 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).