XTX Topco Ltd Acquires New Shares in Canadian Natural Resources Limited (NYSE:CNQ)

Key Points

• XTX Topco Ltd acquired 41,803 shares of Canadian Natural Resources, valued at approximately $1,288,000, during the first quarter.
• Canadian Natural Resources recently increased its quarterly dividend to $0.4227 per share, reflecting a dividend yield of 5.5%.
• Wall Street analysts have a consensus rating of "Moderate Buy" on the stock, with a target price of $63.00.

XTX Topco Ltd acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,803 shares of the oil and gas producer's stock, valued at approximately $1,288,000.

Several other large investors have also added to or reduced their stakes in the stock. Hurley Capital LLC purchased a new stake in shares of Canadian Natural Resources in the fourth quarter worth about $31,000. Investment Management Corp VA ADV lifted its stake in Canadian Natural Resources by 158.3% in the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 611 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Canadian Natural Resources by 253.2% in the 1st quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after purchasing an additional 937 shares during the period. Huntington National Bank boosted its holdings in Canadian Natural Resources by 64.1% in the 4th quarter. Huntington National Bank now owns 1,493 shares of the oil and gas producer's stock valued at $46,000 after purchasing an additional 583 shares during the period. Finally, Sierra Ocean LLC grew its position in shares of Canadian Natural Resources by 104.0% during the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 74.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. National Bankshares reiterated a "sector perform" rating on shares of Canadian Natural Resources in a research report on Thursday, July 17th. Finally, Scotiabank restated an "outperform" rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

Canadian Natural Resources Stock Down 2.2%

CNQ opened at $30.99 on Friday. The business's fifty day simple moving average is $31.80 and its 200 day simple moving average is $30.40. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $37.91. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. The stock has a market cap of $64.79 billion, a PE ratio of 12.15 and a beta of 1.03.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 EPS for the quarter, beating the consensus estimate of $0.73 by $0.08. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $10.14 billion. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. During the same period in the prior year, the company earned $1.37 EPS. As a group, research analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were paid a dividend of $0.4227 per share. This represents a $1.69 annualized dividend and a dividend yield of 5.5%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, June 13th. Canadian Natural Resources's payout ratio is 67.06%.

About Canadian Natural Resources

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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