Intech Investment Management LLC Increases Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Intech Investment Management LLC lifted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 503.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 362,007 shares of the oil and gas producer’s stock after purchasing an additional 302,045 shares during the period. Intech Investment Management LLC’s holdings in Canadian Natural Resources were worth $12,892,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Leuthold Group LLC boosted its holdings in shares of Canadian Natural Resources by 97.2% in the second quarter. Leuthold Group LLC now owns 26,200 shares of the oil and gas producer’s stock valued at $933,000 after purchasing an additional 12,911 shares during the period. Seven Eight Capital LP purchased a new stake in Canadian Natural Resources during the second quarter worth $702,000. Blair William & Co. IL lifted its holdings in Canadian Natural Resources by 105.3% during the second quarter. Blair William & Co. IL now owns 6,526 shares of the oil and gas producer’s stock worth $232,000 after buying an additional 3,348 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Canadian Natural Resources by 130.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 51,716 shares of the oil and gas producer’s stock worth $1,830,000 after buying an additional 29,278 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Canadian Natural Resources by 128.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 13,230 shares of the oil and gas producer’s stock worth $471,000 after buying an additional 7,449 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 CNQ stock opened at $33.38 on Friday. The business’s fifty day simple moving average is $34.78 and its 200-day simple moving average is $36.41. The company has a market cap of $71.03 billion, a PE ratio of 13.30 and a beta of 1.51. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The firm had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the prior year, the firm earned $0.43 EPS. Analysts expect 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. Investors of record on Friday, September 13th will be given a $0.384 dividend. This represents a $1.54 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s payout ratio is 61.75%.

Analyst Upgrades and Downgrades

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

Canadian Natural Resources 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).