Quantinno Capital Management LP Acquires 44,000 Shares of Canadian Natural Resources Limited $CNQ

Key Points

• Quantinno Capital Management increased its Canadian Natural Resources stake by 13.2%, buying 44,000 additional shares to reach 378,046 shares valued at approximately $18.4 million. Institutional investors collectively own 74.03% of the company.
• Canadian Natural Resources exceeded first-quarter expectations, reporting $0.85 in earnings per share versus the $0.74 consensus estimate and revenue of $7.72 billion. Analysts expect full-year EPS of $3.89.
• The company pays a quarterly dividend of $0.625, or $2.50 annually for a 5.2% yield. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $57, compared with a recent price of $47.67.

Quantinno Capital Management LP lifted its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 13.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 378,046 shares of the oil and gas producer's stock after purchasing an additional 44,000 shares during the period. Quantinno Capital Management LP's holdings in Canadian Natural Resources were worth $18,422,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Sunbelt Securities Inc. acquired a new position in Canadian Natural Resources during the fourth quarter worth $25,000. Manchester Capital Management LLC bought a new position in Canadian Natural Resources during the fourth quarter valued at about $28,000. Leonteq Securities AG acquired a new stake in shares of Canadian Natural Resources in the fourth quarter worth about $31,000. LOM Asset Management Ltd acquired a new stake in shares of Canadian Natural Resources in the fourth quarter worth about $34,000. Finally, Quarry LP bought a new stake in shares of Canadian Natural Resources during the 3rd quarter worth about $32,000. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Trading Down 0.0%

Shares of NYSE:CNQ opened at $47.67 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98. The stock's 50-day moving average is $43.68 and its 200-day moving average is $43.79. The company has a market cap of $98.64 billion, a P/E ratio of 14.23 and a beta of 0.46. Canadian Natural Resources Limited has a 52-week low of $29.30 and a 52-week high of $51.34.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The business had revenue of $7.72 billion during the quarter, compared to analysts' expectations of $7.57 billion. During the same quarter in the previous year, the firm earned $1.16 EPS. Equities research analysts predict that Canadian Natural Resources Limited will post 3.89 earnings per share for the current year.

Canadian Natural Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Tuesday, June 23rd. Canadian Natural Resources's payout ratio is currently 54.03%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Raymond James Financial raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Thursday, May 7th. Weiss Ratings cut Canadian Natural Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Zacks Research upgraded Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Desjardins upgraded Canadian Natural Resources to a "hold" rating in a report on Thursday, July 16th. Finally, Scotiabank raised shares of Canadian Natural Resources to a "hold" rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

Canadian Natural Resources Company Profile

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.

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