Ninepoint Partners LP Takes $14.84 Million Position in Canadian Natural Resources Limited $CNQ

Ninepoint Partners LP purchased a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 375,807 shares of the oil and gas producer’s stock, valued at approximately $14,844,000. Canadian Natural Resources accounts for about 1.1% of Ninepoint Partners LP’s portfolio, making the stock its 15th biggest holding.

A number of other institutional investors have also recently bought and sold shares of CNQ. AQR Capital Management LLC grew its position in shares of Canadian Natural Resources by 85.5% during the 1st quarter. AQR Capital Management LLC now owns 18,090 shares of the oil and gas producer’s stock worth $557,000 after purchasing an additional 8,336 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Canadian Natural Resources by 92.7% in the first quarter. Jones Financial Companies Lllp now owns 29,096 shares of the oil and gas producer’s stock valued at $896,000 after buying an additional 13,996 shares during the period. Empowered Funds LLC boosted its stake in shares of Canadian Natural Resources by 4.3% in the first quarter. Empowered Funds LLC now owns 79,374 shares of the oil and gas producer’s stock valued at $2,445,000 after buying an additional 3,266 shares during the period. Geneos Wealth Management Inc. grew its position in Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 528 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Canadian Natural Resources by 65.5% during the second quarter. EverSource Wealth Advisors LLC now owns 4,513 shares of the oil and gas producer’s stock worth $142,000 after buying an additional 1,786 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of CNQ stock opened at $51.04 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. Canadian Natural Resources Limited has a twelve month low of $29.48 and a twelve month high of $51.34. The company has a market cap of $105.26 billion, a P/E ratio of 12.60 and a beta of 0.46. The business has a fifty day simple moving average of $44.02 and a 200 day simple moving average of $44.98.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.15. The firm had revenue of $14.74 billion for the quarter, compared to analysts’ expectations of $9.40 billion. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. On average, sell-side analysts forecast that Canadian Natural Resources Limited will post 4.05 EPS for the current fiscal 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 issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $2.50 annualized dividend and a dividend yield of 4.9%. Canadian Natural Resources’s payout ratio is 44.69%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CNQ shares. Wall Street Zen upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Canadian Natural Resources in a research note on Friday, August 7th. Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Finally, Desjardins raised shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.