Interval Partners LP Purchases New Holdings in Canadian Natural Resources Limited $CNQ

Key Points

• Interval Partners LP has acquired 87,432 shares of Canadian Natural Resources Limited (NYSE:CNQ), valued at approximately $2.7 million, marking its initial investment in the company.
• The company recently increased its quarterly dividend payout to $0.4269, representing a yield of 5.6%, a rise from the previous dividend of $0.42.
• Canadian Natural Resources reported earnings of $0.51 per share for the last quarter, exceeding estimates, while their total revenue for the period was $6.39 billion, below analysts' expectations.

Interval Partners LP acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 87,432 shares of the oil and gas producer's stock, valued at approximately $2,693,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CNQ. MAI Capital Management boosted its position in Canadian Natural Resources by 9.6% during the first quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer's stock worth $134,000 after purchasing an additional 382 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Canadian Natural Resources by 10.2% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,165 shares of the oil and gas producer's stock valued at $159,000 after buying an additional 480 shares during the period. AdvisorNet Financial Inc increased its holdings in Canadian Natural Resources by 8.0% in the 1st quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer's stock valued at $218,000 after buying an additional 525 shares during the period. Peak Financial Advisors LLC raised its stake in Canadian Natural Resources by 0.7% during the first quarter. Peak Financial Advisors LLC now owns 77,253 shares of the oil and gas producer's stock worth $2,379,000 after acquiring an additional 557 shares in the last quarter. Finally, Investment Management Corp VA ADV raised its stake in Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after acquiring an additional 611 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CNQ. Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Royal Bank Of Canada reduced their target price 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. Raymond James Financial restated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, August 8th. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Finally, Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock traded down $0.02 during trading on Thursday, reaching $31.18. 1,353,308 shares of the company's stock were exchanged, compared to its average volume of 6,449,229. 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 1-year low of $24.65 and a 1-year high of $37.91. The company has a market cap of $65.07 billion, a P/E ratio of 11.06 and a beta of 1.03. The firm's 50-day moving average price is $31.07 and its 200 day moving average price is $30.38.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, beating the consensus estimate 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 company had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. During the same quarter in the prior year, the company earned $0.88 EPS. As a group, research analysts anticipate that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced 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. This represents a $1.71 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Friday, September 19th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. 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).