Mudita Advisors LLP Increases Position in Canadian Natural Resources Limited $CNQ

Key Points

• Mudita Advisors LLP increased its stake in Canadian Natural Resources Limited by 12.0%, holding a total of 637,044 shares valued at $19.62 million as of its latest SEC filing.
• The company announced a quarterly dividend increase to $0.4269 per share, representing an annualized yield of 5.5%, effective October 3rd.
• Canadian Natural Resources reported an EPS of $0.51 for its latest quarter, surpassing analyst estimates, but noted a revenue of $6.39 billion, below expectations of $8.97 billion.

Mudita Advisors LLP raised its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 12.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 637,044 shares of the oil and gas producer's stock after acquiring an additional 68,300 shares during the period. Canadian Natural Resources makes up 9.9% of Mudita Advisors LLP's portfolio, making the stock its 3rd largest holding. Mudita Advisors LLP's holdings in Canadian Natural Resources were worth $19,621,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in CNQ. Brandywine Global Investment Management LLC boosted its position in Canadian Natural Resources by 27.5% in the 1st quarter. Brandywine Global Investment Management LLC now owns 2,183,598 shares of the oil and gas producer's stock valued at $67,201,000 after buying an additional 470,391 shares during the period. Sei Investments Co. increased its stake in Canadian Natural Resources by 41.9% during the 1st quarter. Sei Investments Co. now owns 49,307 shares of the oil and gas producer's stock valued at $1,519,000 after purchasing an additional 14,561 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in Canadian Natural Resources during the 1st quarter valued at approximately $3,697,000. Janney Montgomery Scott LLC acquired a new stake in shares of Canadian Natural Resources in the first quarter worth $757,000. Finally, PKO Investment Management Joint Stock Co acquired a new stake in shares of Canadian Natural Resources in the fourth quarter worth $2,452,000. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CNQ. Royal Bank Of Canada cut their price objective on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Zacks Research raised shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Finally, National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

Canadian Natural Resources Stock Up 2.0%

CNQ stock opened at $30.89 on Wednesday. The company has a market cap of $64.47 billion, a price-to-earnings ratio of 10.95 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $37.91. The company has a fifty day moving average price of $31.10 and a 200 day moving average price of $30.37.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced 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. The company had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same quarter in the prior year, the firm earned $0.88 EPS. Sell-side analysts expect 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. Shareholders of record on Friday, September 19th will be issued a dividend of $0.4269 per share. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date is Friday, September 19th. This represents a $1.71 annualized dividend and a yield of 5.5%. Canadian Natural Resources's payout ratio is 60.64%.

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).

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