Yaupon Capital Management LP Takes Position 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 bought a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,403,457 shares of the oil and gas producer's stock, valued at approximately $43,185,000. Canadian Natural Resources comprises about 2.2% of Yaupon Capital Management LP's investment portfolio, making the stock its 8th biggest holding. Yaupon Capital Management LP owned approximately 0.07% of Canadian Natural Resources at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brandywine Global Investment Management LLC increased its position in shares of Canadian Natural Resources by 27.5% during the 1st quarter. Brandywine Global Investment Management LLC now owns 2,183,598 shares of the oil and gas producer's stock valued at $67,201,000 after purchasing an additional 470,391 shares during the last quarter. Sei Investments Co. increased its position in shares of Canadian Natural Resources by 41.9% during the 1st quarter. Sei Investments Co. now owns 49,307 shares of the oil and gas producer's stock valued at $1,519,000 after purchasing an additional 14,561 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Canadian Natural Resources by 594.8% during the 1st quarter. Baird Financial Group Inc. now owns 133,501 shares of the oil and gas producer's stock valued at $4,112,000 after purchasing an additional 114,287 shares during the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of Canadian Natural Resources during the 1st quarter valued at $3,697,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Canadian Natural Resources during the 1st quarter valued at $757,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

NYSE:CNQ traded down $0.01 during mid-day trading on Friday, reaching $31.21. The stock had a trading volume of 4,754,214 shares, compared to its average volume of 6,131,079. The firm has a 50 day moving average price of $31.03 and a two-hundred day moving average price of $30.41. The stock has a market capitalization of $65.14 billion, a P/E ratio of 11.07 and a beta of 1.03. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $37.91. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85.

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 return on equity of 19.67% and a net margin of 19.00%.The firm had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. As a group, analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be given a $0.4269 dividend. The ex-dividend date is Friday, September 19th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. This represents a $1.71 annualized dividend and a yield of 5.5%. Canadian Natural Resources's dividend payout ratio is presently 60.64%.

Wall Street Analyst Weigh In

CNQ has been the subject of several research analyst reports. Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. National Bankshares reissued a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Royal Bank Of Canada decreased their price objective on Canadian Natural Resources from $64.00 to $62.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Raymond James Financial reissued an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Finally, Scotiabank reissued an "outperform" rating on shares of Canadian Natural Resources in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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).