45,200 Shares in Canadian Natural Resources Limited $CNQ Acquired by Quantitative Investment Management LLC

Quantitative Investment Management LLC purchased a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the second quarter, Holdings Channel reports. The institutional investor purchased 45,200 shares of the oil and gas producer’s stock, valued at approximately $1,785,000.

Other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. purchased a new position in shares of Canadian Natural Resources in the 4th quarter valued at $25,000. Trust Co. of Vermont purchased a new stake in shares of Canadian Natural Resources during the second quarter worth approximately $26,000. CX Institutional acquired a new stake in shares of Canadian Natural Resources in the 2nd quarter worth $28,000. Manchester Capital Management LLC acquired a new position in Canadian Natural Resources during the 4th quarter worth approximately $28,000. Finally, Axiom Investment Management LLC purchased a new position in Canadian Natural Resources in the first quarter worth $29,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on CNQ shares. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Zacks Research downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday. Weiss Ratings raised shares of Canadian Natural Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Finally, Wall Street Zen upgraded shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Stock Performance

CNQ stock opened at $50.13 on Tuesday. Canadian Natural Resources Limited has a fifty-two week low of $29.68 and a fifty-two week high of $51.47. 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 company has a market capitalization of $103.39 billion, a P/E ratio of 12.38 and a beta of 0.46. The company has a 50-day simple moving average of $45.06 and a 200 day simple moving average of $45.56.

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

Canadian Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a $0.625 dividend. The ex-dividend date is Friday, September 11th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.0%. Canadian Natural Resources’s dividend payout ratio is currently 44.69%.

About Canadian Natural Resources

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.