PDT Partners LLC Makes New Investment in Canadian Natural Resources Limited $CNQ

Key Points

• PDT Partners LLC has acquired a new position in Canadian Natural Resources Limited, purchasing 17,800 shares valued at approximately $548,000 in the first quarter.
• Canadian Natural Resources recently increased its quarterly dividend to $0.4269 per share, resulting in a 5.4% annualized dividend yield.
• Institutional investors own 74.03% of Canadian Natural Resources' stock, indicating strong interest from major hedge funds and investment firms.

PDT Partners LLC bought a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 17,800 shares of the oil and gas producer's stock, valued at approximately $548,000.

A number of other institutional investors have also recently added to or reduced their stakes in CNQ. Investment Management Corp VA ADV grew its holdings in Canadian Natural Resources by 158.3% during the 1st 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 during the last quarter. Versant Capital Management Inc boosted its stake in shares of Canadian Natural Resources by 253.2% in the 1st quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after purchasing an additional 937 shares during the last quarter. Sierra Ocean LLC boosted its stake in shares of Canadian Natural Resources by 104.0% in the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after purchasing an additional 800 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Canadian Natural Resources in the 1st quarter valued at $56,000. Finally, Cloud Capital Management LLC bought a new stake in shares of Canadian Natural Resources in the 1st quarter valued at $68,000. 74.03% of the stock is owned by institutional investors.

Canadian Natural Resources Stock Up 0.5%

Shares of CNQ stock traded up $0.16 during mid-day trading on Wednesday, reaching $31.05. 1,285,855 shares of the company's stock traded hands, compared to its average volume of 6,455,868. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $37.91. The company has a market cap of $64.80 billion, a P/E ratio of 11.01 and a beta of 1.03. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. The company's 50-day moving average price is $31.10 and its 200-day moving average price is $30.37.

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 analysts' consensus estimates of $0.44 by $0.07. The firm had revenue of $6.39 billion for the quarter, compared to analysts' expectations 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 previous year, the business posted $0.88 EPS. On average, equities analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be given a $0.4269 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.71 annualized dividend and a dividend yield of 5.5%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's payout ratio is presently 60.64%.

Wall Street Analyst Weigh In

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

Canadian Natural Resources 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).