Maverick Capital Ltd. Purchases Shares of 46,050 Canadian Natural Resources Limited $CNQ

Maverick Capital Ltd. purchased a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 1st quarter, HoldingsChannel reports. The fund purchased 46,050 shares of the oil and gas producer’s stock, valued at approximately $2,246,000.

A number of other large investors have also modified their holdings of the stock. Personal CFO Solutions LLC raised its stake in shares of Canadian Natural Resources by 1.7% in the first quarter. Personal CFO Solutions LLC now owns 15,199 shares of the oil and gas producer’s stock valued at $747,000 after acquiring an additional 251 shares in the last quarter. Ted Buchan & Co grew its stake in Canadian Natural Resources by 0.6% during the 4th quarter. Ted Buchan & Co now owns 43,814 shares of the oil and gas producer’s stock worth $1,483,000 after purchasing an additional 260 shares in the last quarter. FDx Advisors Inc. grew its stake in Canadian Natural Resources by 2.7% during the 4th quarter. FDx Advisors Inc. now owns 10,312 shares of the oil and gas producer’s stock worth $349,000 after purchasing an additional 270 shares in the last quarter. Peak Financial Advisors LLC increased its holdings in Canadian Natural Resources by 0.3% during the 1st quarter. Peak Financial Advisors LLC now owns 93,840 shares of the oil and gas producer’s stock worth $4,573,000 after purchasing an additional 290 shares during the period. Finally, Ritholtz Wealth Management increased its holdings in Canadian Natural Resources by 0.9% during the 1st quarter. Ritholtz Wealth Management now owns 32,763 shares of the oil and gas producer’s stock worth $1,597,000 after purchasing an additional 301 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $44.76 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.37. Canadian Natural Resources Limited has a 52 week low of $29.30 and a 52 week high of $51.34. The firm’s 50 day moving average is $43.88 and its two-hundred day moving average is $43.37. The firm has a market capitalization of $92.90 billion, a P/E ratio of 13.36 and a beta of 0.47.

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

Canadian Natural Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.6%. The ex-dividend date was Tuesday, June 23rd. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 54.03%.

Wall Street Analysts Forecast Growth

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