Public Sector Pension Investment Board Acquires 136,617 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Public Sector Pension Investment Board grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 88.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 290,342 shares of the oil and gas producer’s stock after purchasing an additional 136,617 shares during the quarter. Public Sector Pension Investment Board’s holdings in Canadian Natural Resources were worth $10,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Park Place Capital Corp boosted its position in shares of Canadian Natural Resources by 100.0% in the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 358 shares during the period. RFP Financial Group LLC boosted its position in shares of Canadian Natural Resources by 98.3% in the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 352 shares during the period. Sugarloaf Wealth Management LLC boosted its position in shares of Canadian Natural Resources by 100.0% in the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 364 shares during the period. Bruce G. Allen Investments LLC boosted its position in shares of Canadian Natural Resources by 91.6% in the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 415 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Canadian Natural Resources by 104.7% in the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 447 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Raymond James upgraded shares of Canadian Natural Resources to a “hold” rating in a research report on Tuesday, May 28th. Wolfe Research assumed coverage on shares of Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $49.50.

Canadian Natural Resources Price Performance

CNQ stock opened at $33.80 on Tuesday. Canadian Natural Resources Limited has a 52 week low of $29.45 and a 52 week high of $41.29. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $34.72 and a two-hundred day simple moving average of $36.40. The firm has a market capitalization of $71.92 billion, a P/E ratio of 13.47 and a beta of 1.51.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The business had revenue of $7.76 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same quarter last year, the business earned $0.43 earnings per share. Analysts anticipate that Canadian Natural Resources Limited will post 2.49 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be issued a $0.384 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 annualized dividend and a dividend yield of 4.54%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 61.75%.

About Canadian Natural Resources

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).