Point72 Europe London LLP Buys 399,371 Shares of Canadian Natural Resources Limited $CNQ

Point72 Europe London LLP boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 101.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 793,240 shares of the oil and gas producer’s stock after buying an additional 399,371 shares during the quarter. Canadian Natural Resources accounts for 1.7% of Point72 Europe London LLP’s investment portfolio, making the stock its 11th largest holding. Point72 Europe London LLP’s holdings in Canadian Natural Resources were worth $24,435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Management Corp VA ADV increased its position in shares of Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 611 shares during the period. Versant Capital Management Inc increased its stake in Canadian Natural Resources by 253.2% during the 1st quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 937 shares in the last quarter. Sierra Ocean LLC raised its stake in Canadian Natural Resources by 104.0% in the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 800 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Canadian Natural Resources during the first quarter worth about $56,000. Finally, Cloud Capital Management LLC purchased a new stake in shares of Canadian Natural Resources in the 1st quarter valued at $68,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNQ has been the subject of a number of analyst reports. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, August 8th. National Bankshares reissued a “sector perform” rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Royal Bank Of Canada dropped their price objective on shares of Canadian Natural Resources from $64.00 to $62.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Finally, Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $31.68 on Friday. The company has a market capitalization of $66.17 billion, a PE ratio of 11.23 and a beta of 1.05. The company has a fifty day moving average of $31.17 and a two-hundred day moving average of $30.34. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $37.91.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.07. The company had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period last year, the business posted $0.88 EPS. As a group, analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be given a dividend of $0.4269 per share. The ex-dividend date is Friday, September 19th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.42. This represents a $1.71 dividend on an annualized basis and a yield of 5.4%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 60.64%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).