X Square Capital LLC Acquires New Stake in Canadian Natural Resources Limited $CNQ

Key Points

• X Square Capital acquired 22,000 shares of Canadian Natural Resources in the second quarter, valued at approximately $869,000. Institutional investors collectively own 74.03% of the company.
• Canadian Natural Resources reported quarterly EPS of $1.58, exceeding analyst expectations of $1.43, while revenue reached $14.74 billion versus the $9.40 billion consensus estimate.
• 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 an average price target of $57.00.

X Square Capital LLC bought a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,000 shares of the oil and gas producer's stock, valued at approximately $869,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in Canadian Natural Resources by 31.5% during the 4th quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer's stock valued at $4,956,204,000 after purchasing an additional 35,067,143 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Canadian Natural Resources in the 1st quarter worth $1,411,619,000. AQR Capital Management LLC lifted its holdings in shares of Canadian Natural Resources by 11,020.4% in the fourth quarter. AQR Capital Management LLC now owns 3,680,735 shares of the oil and gas producer's stock valued at $124,672,000 after buying an additional 3,647,636 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Canadian Natural Resources by 10.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer's stock valued at $1,826,578,000 after buying an additional 3,397,500 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Canadian Natural Resources during the second quarter valued at about $117,215,000. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Performance

CNQ opened at $51.42 on Friday. The firm has a market cap of $106.05 billion, a PE ratio of 12.70 and a beta of 0.46. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $44.15 and a 200-day simple moving average of $45.02. Canadian Natural Resources Limited has a fifty-two week low of $29.68 and a fifty-two week high of $51.48.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.15. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%.The business had revenue of $14.74 billion for the quarter, compared to analysts' expectations of $9.40 billion. As a group, equities analysts predict that Canadian Natural Resources Limited will post 4.05 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

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 of this dividend 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 (DPR) is currently 44.69%.

Wall Street Analysts Forecast Growth

CNQ has been the topic of a number of research analyst reports. Scotiabank reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a report on Friday, August 7th. Desjardins raised shares of Canadian Natural Resources to a "hold" rating in a report on Thursday, July 16th. TD Securities restated a "buy" rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Wall Street Zen raised shares of Canadian Natural Resources from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Canadian Natural Resources from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Canadian Natural Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.00.

Canadian Natural Resources 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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