Canadian Natural Resources Limited $CNQ Shares Acquired by Point72 Europe London LLP

Key Points

• Point72 Europe London LLP increased its stake in Canadian Natural Resources Limited by 101.4%, owning 793,240 shares valued at approximately $24.44 million.
• Other institutional investors also boosted their positions in the company, with the Canada Pension Plan Investment Board increasing its stake by 13.0% in the first quarter.
• Canadian Natural Resources recently announced a dividend increase to $0.4269 per share, reflecting a 5.4% yield and a payout ratio of 60.64%.

Point72 Europe London LLP grew its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 101.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 793,240 shares of the oil and gas producer's stock after purchasing an additional 399,371 shares during the period. Canadian Natural Resources makes up about 1.7% of Point72 Europe London LLP's portfolio, making the stock its 11th biggest position. Point72 Europe London LLP's holdings in Canadian Natural Resources were worth $24,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Graham Capital Management L.P. lifted its stake in shares of Canadian Natural Resources by 57.4% in the 1st quarter. Graham Capital Management L.P. now owns 419,001 shares of the oil and gas producer's stock valued at $12,905,000 after purchasing an additional 152,883 shares during the last quarter. MAI Capital Management grew its stake in shares of 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 valued at $134,000 after buying an additional 382 shares during the last quarter. Ewing Morris & Co. Investment Partners Ltd. grew its stake in shares of Canadian Natural Resources by 46.2% during the first quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 38,128 shares of the oil and gas producer's stock valued at $1,174,000 after buying an additional 12,040 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of Canadian Natural Resources by 594.8% during the first quarter. Baird Financial Group Inc. now owns 133,501 shares of the oil and gas producer's stock valued at $4,112,000 after buying an additional 114,287 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. bought a new position in shares of Canadian Natural Resources during the first quarter valued at approximately $287,000. 74.03% of the stock is owned by institutional investors.

Canadian Natural Resources Price Performance

CNQ stock traded down $0.77 during trading on Wednesday, hitting $31.23. The stock had a trading volume of 6,403,817 shares, compared to its average volume of 5,625,364. 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 twelve month low of $24.65 and a twelve month high of $37.91. The stock has a market capitalization of $65.25 billion, a P/E ratio of 11.08 and a beta of 1.03. The company's 50-day moving average price is $31.17 and its two-hundred day moving average price is $30.36.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.07. The company had revenue of $6.39 billion for the quarter, compared to analysts' expectations of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period in the previous year, the firm posted $0.88 EPS. As a group, research analysts predict that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders 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 is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a yield of 5.5%. Canadian Natural Resources's dividend payout ratio is presently 60.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. National Bankshares reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Royal Bank Of Canada lowered their price target on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating for the company 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. 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 investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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).