Canadian Natural Resources Limited $CNQ Stock: Cardinal Point Capital Management ULC Raises Position

Cardinal Point Capital Management ULC increased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 244,250 shares of the oil and gas producer’s stock after buying an additional 12,142 shares during the period. Cardinal Point Capital Management ULC’s holdings in Canadian Natural Resources were worth $11,522,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Canadian Natural Resources by 10.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer’s stock worth $1,826,578,000 after purchasing an additional 3,397,500 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Canadian Natural Resources in the first quarter valued at approximately $1,411,619,000. TD Waterhouse Canada Inc. increased its stake in Canadian Natural Resources by 1.4% in the third quarter. TD Waterhouse Canada Inc. now owns 16,459,772 shares of the oil and gas producer’s stock valued at $784,278,000 after purchasing an additional 223,444 shares during the last quarter. Amundi increased its stake in Canadian Natural Resources by 2.8% in the first quarter. Amundi now owns 7,994,427 shares of the oil and gas producer’s stock valued at $389,568,000 after purchasing an additional 217,437 shares during the last quarter. Finally, Swiss National Bank raised its holdings in Canadian Natural Resources by 26.7% during the first quarter. Swiss National Bank now owns 7,011,862 shares of the oil and gas producer’s stock worth $341,546,000 after purchasing an additional 1,475,500 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

CNQ has been the subject of a number of research reports. Desjardins raised shares of Canadian Natural Resources to a “hold” rating in a research report on Thursday, July 16th. Zacks Research upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, October 9th. Weiss Ratings upgraded Canadian Natural Resources from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Finally, TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $54.27 on Thursday. 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 $49.98 and its two-hundred day moving average is $46.73. Canadian Natural Resources Limited has a 12-month low of $29.98 and a 12-month high of $55.13. The stock has a market capitalization of $111.51 billion, a price-to-earnings ratio of 13.40 and a beta of 0.53.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $14.74 billion for the quarter, compared to analysts’ expectations of $9.40 billion. Research analysts expect that Canadian Natural Resources Limited will post 4.10 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were paid a dividend of C$0.62 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.6%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 44.44%.

Canadian Natural Resources Profile

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. Its portfolio includes conventional and unconventional petroleum assets, heavy crude oil operations, and oil sands projects that produce bitumen and synthetic crude oil.

The company’s principal operations are located in Western Canada, including oil sands and conventional assets in Alberta and natural gas properties in Alberta and British Columbia.