Susquehanna Fundamental Investments LLC Buys 648,000 Shares of Canadian Natural Resources Limited $CNQ

Susquehanna Fundamental Investments LLC increased its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 138.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,115,600 shares of the oil and gas producer’s stock after purchasing an additional 648,000 shares during the quarter. Canadian Natural Resources comprises about 0.8% of Susquehanna Fundamental Investments LLC’s portfolio, making the stock its 26th biggest position. Susquehanna Fundamental Investments LLC’s holdings in Canadian Natural Resources were worth $44,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Canadian Natural Resources Stock Performance

CNQ stock opened at $49.07 on Monday. 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 firm has a market cap of $101.20 billion, a PE ratio of 12.12 and a beta of 0.46. The business’s 50-day moving average price is $44.89 and its two-hundred day moving average price is $45.48.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.15. The company 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%. As a group, research analysts forecast that Canadian Natural Resources Limited will post 4.05 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have issued reports on CNQ. Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Desjardins raised Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 16th. Zacks Research lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Finally, TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Canadian Natural Resources 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.