Engineers Gate Manager LP Grows Position in Canadian Natural Resources Limited $CNQ

Key Points

• Engineers Gate Manager LP increased its Canadian Natural Resources stake by 36.2% in the second quarter, bringing its holdings to 121,459 shares valued at approximately $4.8 million. Institutional investors collectively own 74.03% of CNQ.
• Canadian Natural Resources reported quarterly EPS of $1.58, beating the $1.43 analyst consensus, while revenue reached $14.74 billion versus the $9.40 billion estimate.
• The company declared a quarterly dividend of $0.625 per share, equivalent to a 5.0% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $57.00.

Engineers Gate Manager LP increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 36.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,459 shares of the oil and gas producer's stock after purchasing an additional 32,285 shares during the quarter. Engineers Gate Manager LP's holdings in Canadian Natural Resources were worth $4,798,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNQ. Barometer Capital Management Inc. purchased a new position in shares of Canadian Natural Resources during the 1st quarter worth approximately $6,198,000. Bank of New York Mellon Corp purchased a new position in shares of Canadian Natural Resources during the second quarter worth $117,215,000. WCM Investment Management LLC grew its stake in shares of Canadian Natural Resources by 22.4% in the first quarter. WCM Investment Management LLC now owns 5,122,209 shares of the oil and gas producer's stock valued at $252,883,000 after buying an additional 938,210 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Canadian Natural Resources by 59.8% in the 4th quarter. Bleakley Financial Group LLC now owns 78,161 shares of the oil and gas producer's stock valued at $2,646,000 after buying an additional 29,249 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its stake in Canadian Natural Resources by 58.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 775,589 shares of the oil and gas producer's stock worth $37,825,000 after acquiring an additional 287,300 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $50.02 on Friday. Canadian Natural Resources Limited has a 12 month low of $29.68 and a 12 month high of $52.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.00 and a quick ratio of 0.75. The firm has a market capitalization of $103.17 billion, a PE ratio of 12.35 and a beta of 0.47. The business's fifty day moving average price is $47.11 and its 200 day moving average price is $46.15.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.15. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%.The company had revenue of $14.74 billion during the quarter, compared to the consensus estimate of $9.40 billion. On average, sell-side analysts anticipate that Canadian Natural Resources Limited will post 4.05 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Friday, September 11th. Canadian Natural Resources's payout ratio is currently 44.69%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. TD Securities reissued a "buy" rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Weiss Ratings lowered Canadian Natural Resources from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, September 4th. Scotiabank reissued a "sector perform" rating on shares of Canadian Natural Resources in a research note on Friday, August 7th. Zacks Research lowered Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Finally, Desjardins upgraded Canadian Natural Resources to a "hold" rating in a research note on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $57.00.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited (CNRL) is a Canadian independent crude oil and natural gas exploration, development, production, marketing and refining company headquartered in Calgary, Alberta. The company produces a range of energy products, including heavy and light crude oil, synthetic crude oil, natural gas and natural gas liquids.

CNRL's operations are concentrated in Western Canada, where it holds significant oil sands, conventional oil and natural gas assets. Its oil sands business includes mining and upgrading operations as well as in situ thermal projects.

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