TD Waterhouse Canada Inc. Has $634.51 Million Stock Position in Canadian Natural Resources Limited $CNQ

Key Points

• TD Waterhouse Canada increased its Canadian Natural Resources stake by 0.6% to 16.24 million shares, valued at approximately $634.5 million and representing 0.79% of CNQ.
• Canadian Natural Resources reported quarterly earnings of $1.58 per share, exceeding the $1.43 consensus estimate, while revenue reached $14.74 billion versus expectations of $9.40 billion.
• The company declared a quarterly dividend of $0.625, equivalent to $2.50 annually and a 4.9% yield; analysts maintain a “Moderate Buy” consensus with a $57 price target.

TD Waterhouse Canada Inc. raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 0.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,236,328 shares of the oil and gas producer's stock after acquiring an additional 88,990 shares during the quarter. Canadian Natural Resources makes up approximately 1.7% of TD Waterhouse Canada Inc.'s holdings, making the stock its 12th biggest position. TD Waterhouse Canada Inc. owned approximately 0.79% of Canadian Natural Resources worth $634,507,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Axiom Investment Management LLC bought a new position in Canadian Natural Resources in the first quarter valued at $29,000. Trust Co. of Vermont acquired a new stake in Canadian Natural Resources in the 2nd quarter valued at $26,000. CX Institutional bought a new stake in Canadian Natural Resources during the 2nd quarter worth about $28,000. Sunbelt Securities Inc. acquired a new position in shares of Canadian Natural Resources during the 4th quarter worth about $25,000. Finally, Manchester Capital Management LLC bought a new position in shares of Canadian Natural Resources in the 4th quarter valued at about $28,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Down 1.2%

Shares of Canadian Natural Resources stock opened at $51.17 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.00 and a quick ratio of 0.75. The business has a fifty day simple moving average of $45.76 and a two-hundred day simple moving average of $45.80. Canadian Natural Resources Limited has a 1 year low of $29.68 and a 1 year high of $52.25. The company has a market capitalization of $105.53 billion, a price-to-earnings ratio of 12.63 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.43 by $0.15. The firm had revenue of $14.74 billion for the quarter, compared to the consensus estimate of $9.40 billion. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. Research analysts forecast that Canadian Natural Resources Limited will post 4.05 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a $0.625 dividend. The ex-dividend date is Friday, September 11th. This represents a $2.50 dividend on an annualized basis and a yield of 4.9%. Canadian Natural Resources's dividend payout ratio is 44.69%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CNQ shares. Zacks Research lowered Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Thursday, May 7th. Wall Street Zen raised Canadian Natural Resources from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of Canadian Natural Resources from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 21st. Finally, TD Securities reiterated a "buy" rating on shares of Canadian Natural Resources in a research note on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average 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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