Hsbc Holdings PLC Makes New Investment in Canadian Natural Resources Limited $CNQ

Key Points

• HSBC Holdings PLC initiated a position in Canadian Natural Resources during the second quarter, purchasing 26,367 shares valued at approximately $1.04 million. Institutional investors collectively own 74.03% of the company.
• Canadian Natural Resources reported quarterly EPS of $1.58, surpassing the $1.43 consensus estimate, while revenue reached $14.74 billion. Analysts expect the company to generate $4.05 in EPS for the current year.
• The company declared a quarterly dividend of $0.625, equivalent to an annualized $2.50 and a 5.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $57, versus the reported share price of $50.02.

Hsbc Holdings PLC bought a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 26,367 shares of the oil and gas producer's stock, valued at approximately $1,041,000.

Other large investors have also made changes to their positions in the company. Capital Research Global Investors lifted its position in Canadian Natural Resources by 31.5% during the fourth quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer's stock worth $4,956,204,000 after buying an additional 35,067,143 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Canadian Natural Resources by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 42,745,981 shares of the oil and gas producer's stock worth $1,446,951,000 after acquiring an additional 1,342,954 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Canadian Natural Resources by 10.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer's stock worth $1,826,578,000 after acquiring an additional 3,397,500 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Canadian Natural Resources in the 1st quarter worth $1,411,619,000. Finally, Geode Capital Management LLC raised its holdings in shares of Canadian Natural Resources by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 20,518,621 shares of the oil and gas producer's stock worth $710,119,000 after acquiring an additional 1,347,844 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

CNQ stock opened at $50.02 on Monday. The business has a fifty day moving average of $47.11 and a two-hundred day moving average of $46.18. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. The stock has a market cap of $103.17 billion, a price-to-earnings ratio of 12.35 and a beta of 0.47. Canadian Natural Resources Limited has a 52-week low of $29.68 and a 52-week high of $52.31.

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 EPS for the quarter, beating the consensus estimate of $1.43 by $0.15. The business had revenue of $14.74 billion for the quarter, compared to analyst estimates of $9.40 billion. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. As a group, research analysts anticipate that Canadian Natural Resources Limited will post 4.05 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.0%. The ex-dividend date is Friday, September 11th. Canadian Natural Resources's payout ratio is 44.44%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings cut shares of Canadian Natural Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, September 4th. Desjardins upgraded shares of Canadian Natural Resources to a "hold" rating in a research report on Thursday, July 16th. Scotiabank reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a research note on Friday, August 7th. Wall Street Zen raised shares of Canadian Natural Resources from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Canadian Natural Resources in a report on Thursday, August 27th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Canadian Natural Resources 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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