Mufg Securities Canada LTD. Increases Holdings in Canadian Natural Resources Limited $CNQ

Key Points

• MUFG Securities Canada more than doubled its CNQ stake in the second quarter, adding 3.26 million shares to own 6.35 million shares valued at approximately $250.9 million. Canadian Natural Resources now represents 6.7% of the firm’s portfolio.
• Institutional ownership remains high at 74.03%, while analyst sentiment is moderately bullish: seven analysts rate CNQ a Buy and five rate it a Hold, with a consensus price target of $57.
• Canadian Natural Resources reported quarterly EPS of $1.58, beating estimates, and announced a $0.625 quarterly dividend. The $2.50 annualized payout represents a 5.0% yield.

Mufg Securities Canada LTD. raised its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 105.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,350,644 shares of the oil and gas producer's stock after acquiring an additional 3,262,880 shares during the quarter. Canadian Natural Resources makes up 6.7% of Mufg Securities Canada LTD.'s portfolio, making the stock its 4th largest holding. Mufg Securities Canada LTD. owned about 0.31% of Canadian Natural Resources worth $250,892,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CNQ. Capital Research Global Investors boosted its stake in Canadian Natural Resources by 31.5% in 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 purchasing an additional 35,067,143 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Canadian Natural Resources during the 1st quarter worth about $1,411,619,000. AQR Capital Management LLC grew its holdings in Canadian Natural Resources by 11,020.4% during the 4th quarter. AQR Capital Management LLC now owns 3,680,735 shares of the oil and gas producer's stock worth $124,672,000 after acquiring an additional 3,647,636 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Canadian Natural Resources by 10.0% during 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. Finally, Bank of New York Mellon Corp acquired a new stake in Canadian Natural Resources in the 2nd quarter valued at about $117,215,000. Institutional investors and hedge funds own 74.03% of the company's stock.

Wall Street Analysts Forecast Growth

CNQ has been the topic of several research reports. Scotiabank reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a report on Friday, August 7th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Canadian Natural Resources in a research note on Thursday. Raymond James Financial raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Thursday, May 7th. Zacks Research cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. Finally, TD Securities restated a "buy" rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $57.00.

Canadian Natural Resources Price Performance

CNQ opened at $50.13 on Tuesday. The stock has a market cap of $103.39 billion, a P/E ratio of 12.38 and a beta of 0.46. Canadian Natural Resources Limited has a 12 month low of $29.68 and a 12 month high of $51.47. 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 company has a fifty day simple moving average of $45.06 and a 200 day simple moving average of $45.56.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.15. The firm had revenue of $14.74 billion during the quarter, compared to analysts' expectations of $9.40 billion. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. On average, research analysts expect that Canadian Natural Resources Limited will post 4.05 EPS 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. Stockholders of record on Friday, September 11th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $2.50 annualized dividend and a dividend yield of 5.0%. Canadian Natural Resources's dividend payout ratio is currently 44.69%.

About Canadian Natural Resources

Canadian Natural Resources Limited NYSE: CNQ is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company's operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source