Yaupon Capital Management LP Invests $43.19 Million in Canadian Natural Resources Limited $CNQ

Key Points

• Yaupon Capital Management LP invested approximately $43.19 million in Canadian Natural Resources Limited, acquiring 1,403,457 shares, making it the fund's 8th largest holding.
• Canadian Natural Resources has received several analyst ratings, with a consensus rating of "Moderate Buy" and an average target price of $62.00.
• The company announced a quarterly dividend increase to $0.4269 per share, reflecting a 5.6% dividend yield and a payout ratio of 60.64%.

Yaupon Capital Management LP purchased a new position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,403,457 shares of the oil and gas producer's stock, valued at approximately $43,185,000. Canadian Natural Resources comprises 2.2% of Yaupon Capital Management LP's holdings, making the stock its 8th biggest holding. Yaupon Capital Management LP owned 0.07% of Canadian Natural Resources as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. MAI Capital Management raised its position in shares of Canadian Natural Resources by 9.6% during the first quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer's stock valued at $134,000 after buying an additional 382 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Canadian Natural Resources by 10.2% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,165 shares of the oil and gas producer's stock valued at $159,000 after buying an additional 480 shares during the last quarter. AdvisorNet Financial Inc raised its position in shares of Canadian Natural Resources by 8.0% during the first quarter. AdvisorNet Financial Inc now owns 7,065 shares of the oil and gas producer's stock valued at $218,000 after buying an additional 525 shares during the last quarter. Peak Financial Advisors LLC raised its position in shares of Canadian Natural Resources by 0.7% during the first quarter. Peak Financial Advisors LLC now owns 77,253 shares of the oil and gas producer's stock valued at $2,379,000 after buying an additional 557 shares during the last quarter. Finally, Investment Management Corp VA ADV increased its stake in Canadian Natural Resources by 158.3% in the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 611 shares during the period. Institutional investors and hedge funds own 74.03% of the company's stock.

Canadian Natural Resources Trading Down 0.0%

NYSE CNQ traded down $0.01 during trading hours on Friday, hitting $31.21. The company's stock had a trading volume of 4,754,214 shares, compared to its average volume of 6,131,079. The stock has a fifty day moving average of $31.03 and a 200 day moving average of $30.42. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $37.91. The firm has a market capitalization of $65.14 billion, a P/E ratio of 11.07 and a beta of 1.03. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.38.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating 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 analyst estimates of $8.97 billion. During the same period in the prior year, the business posted $0.88 earnings per share. Equities research analysts forecast that Canadian Natural Resources Limited will post 2.45 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be issued a $0.4269 dividend. This represents a $1.71 annualized dividend and a yield of 5.5%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.42. The ex-dividend date is Friday, September 19th. Canadian Natural Resources's dividend payout ratio (DPR) is 60.64%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. National Bankshares reaffirmed a "sector perform" rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Royal Bank Of Canada decreased their price objective on shares of Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Zacks Research raised shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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).