Public Employees Retirement System of Ohio Purchases New Holdings in Canadian Natural Resources Limited $CNQ

Public Employees Retirement System of Ohio acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 748,504 shares of the oil and gas producer’s stock, valued at approximately $29,583,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Barometer Capital Management Inc. acquired a new stake in shares of Canadian Natural Resources in the first quarter worth $6,198,000. Bank of New York Mellon Corp acquired a new position in Canadian Natural Resources during the 2nd quarter valued at $117,215,000. WCM Investment Management LLC raised its stake in Canadian Natural Resources by 22.4% during the 1st quarter. WCM Investment Management LLC now owns 5,122,209 shares of the oil and gas producer’s stock valued at $252,883,000 after purchasing an additional 938,210 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Canadian Natural Resources by 59.8% in the 4th quarter. Bleakley Financial Group LLC now owns 78,161 shares of the oil and gas producer’s stock valued at $2,646,000 after purchasing an additional 29,249 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings in Canadian Natural Resources by 58.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 775,589 shares of the oil and gas producer’s stock valued at $37,825,000 after purchasing an additional 287,300 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Down 1.4%

CNQ stock opened at $49.07 on Friday. Canadian Natural Resources Limited has a 1-year low of $29.68 and a 1-year high of $51.47. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $44.89 and its 200-day moving average is $45.44. The firm has a market cap of $101.20 billion, a P/E ratio of 12.12 and a beta of 0.46.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its 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. The business had revenue of $14.74 billion during the quarter, compared to the consensus estimate of $9.40 billion. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. Equities analysts anticipate that Canadian Natural Resources Limited will post 4.05 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.1%. The ex-dividend date is Friday, September 11th. Canadian Natural Resources’s dividend payout ratio is currently 44.69%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CNQ shares. 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. Wall Street Zen upgraded shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.