Canada Pension Plan Investment Board Has $1.48 Billion Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Canada Pension Plan Investment Board lifted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 93.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,464,502 shares of the oil and gas producer’s stock after purchasing an additional 19,980,902 shares during the quarter. Canadian Natural Resources accounts for 1.5% of Canada Pension Plan Investment Board’s holdings, making the stock its 10th largest position. Canada Pension Plan Investment Board owned 1.95% of Canadian Natural Resources worth $1,476,644,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Park Place Capital Corp grew its stake in Canadian Natural Resources by 100.0% during the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 358 shares in the last quarter. RFP Financial Group LLC grew its position in 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 valued at $25,000 after acquiring an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC raised its stake in Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings 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 acquiring an additional 415 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Canadian Natural Resources by 104.7% in the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 447 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CNQ shares. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. 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. Raymond James upgraded shares of Canadian Natural Resources to a “hold” rating in a research report on Tuesday, May 28th. Finally, StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Trading Up 2.8 %

Shares of CNQ stock opened at $33.78 on Friday. The company has a market cap of $71.87 billion, a P/E ratio of 13.46 and a beta of 1.51. Canadian Natural Resources Limited has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The stock has a 50 day simple moving average of $34.83 and a two-hundred day simple moving average of $36.42. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.19 billion. During the same period in the prior year, the firm earned $0.43 earnings per share. Research analysts forecast that Canadian Natural Resources Limited will post 2.49 earnings per share for the current 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 paid a $0.384 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.54 annualized dividend and a dividend yield of 4.55%. Canadian Natural Resources’s dividend payout ratio is presently 61.75%.

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).