Roundview Capital LLC Acquires 12,194 Shares of Canadian Natural Resources Limited $CNQ

Key Points

• Roundview Capital LLC increased its stake in Canadian Natural Resources Limited by 22.7%, acquiring an additional 12,194 shares, bringing their total to 65,994 shares valued at $2,072,000 by the end of the reporting period.
• The company's quarterly earnings topped expectations, reporting $0.51 earnings per share, exceeding the consensus estimate of $0.44, despite lower revenues of $6.39 billion.
• Canadian Natural Resources recently raised its quarterly dividend to $0.4269 per share, representing a 5.2% yield, up from its previous quarterly dividend.

Roundview Capital LLC increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 22.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,994 shares of the oil and gas producer's stock after acquiring an additional 12,194 shares during the period. Roundview Capital LLC's holdings in Canadian Natural Resources were worth $2,072,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its stake in Canadian Natural Resources by 29.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 43,968,120 shares of the oil and gas producer's stock worth $1,354,219,000 after acquiring an additional 9,915,345 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Canadian Natural Resources by 13.0% in the first quarter. Canada Pension Plan Investment Board now owns 41,769,153 shares of the oil and gas producer's stock worth $1,285,464,000 after buying an additional 4,805,451 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Canadian Natural Resources by 4.8% in the first quarter. Mackenzie Financial Corp now owns 33,100,240 shares of the oil and gas producer's stock worth $1,018,469,000 after buying an additional 1,519,523 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Canadian Natural Resources by 1.9% in the first quarter. 1832 Asset Management L.P. now owns 31,822,379 shares of the oil and gas producer's stock worth $980,129,000 after buying an additional 603,101 shares in the last quarter. Finally, Bank of Nova Scotia lifted its stake in shares of Canadian Natural Resources by 86.6% in the first quarter. Bank of Nova Scotia now owns 24,262,707 shares of the oil and gas producer's stock worth $746,675,000 after buying an additional 11,259,267 shares in the last quarter. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Up 1.0%

CNQ opened at $32.76 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $37.91. The company has a market capitalization of $68.37 billion, a PE ratio of 11.62 and a beta of 0.97. The firm's 50 day simple moving average is $31.29 and its two-hundred day simple moving average is $30.83.

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

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 19th were given a $0.4269 dividend. The ex-dividend date was Friday, September 19th. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a yield of 5.2%. Canadian Natural Resources's payout ratio is 60.64%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. TD Securities reiterated a "buy" rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. Raymond James Financial reiterated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Canadian Natural Resources in a research note on Saturday, September 27th. Zacks Research upgraded shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Finally, Scotiabank reiterated an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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).

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