Guardian Point Capital LP Purchases Shares of 400,000 Canadian Natural Resources Limited $CNQ

Guardian Point Capital LP acquired a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 400,000 shares of the oil and gas producer’s stock, valued at approximately $19,492,000. Canadian Natural Resources accounts for about 8.0% of Guardian Point Capital LP’s portfolio, making the stock its 6th largest position.

Several other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. acquired a new stake in Canadian Natural Resources in the 4th quarter valued at about $25,000. Manchester Capital Management LLC bought a new position in Canadian Natural Resources during the fourth quarter worth about $28,000. Leonteq Securities AG acquired a new position in Canadian Natural Resources during the fourth quarter worth approximately $31,000. Quarry LP acquired a new position in Canadian Natural Resources during the third quarter worth approximately $32,000. Finally, LOM Asset Management Ltd bought a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $34,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $46.45 on Friday. The firm has a market cap of $96.40 billion, a P/E ratio of 13.86 and a beta of 0.47. The business’s 50 day moving average is $43.96 and its 200-day moving average is $43.20. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. Canadian Natural Resources Limited has a 1-year low of $29.30 and a 1-year high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The business had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.57 billion. During the same period in the previous year, the company posted $1.16 EPS. Equities research analysts predict that Canadian Natural Resources Limited will post 3.89 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd were paid a $0.625 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $2.50 annualized dividend and a dividend yield of 5.4%. Canadian Natural Resources’s dividend payout ratio is 54.03%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Desjardins upgraded Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 16th. Scotiabank raised shares of Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Finally, Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.00.

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.