25,055 Canadian Natural Resources Limited $CNQ Shares Acquired by Summit Global Investments

Summit Global Investments lifted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 202.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,421 shares of the oil and gas producer’s stock after purchasing an additional 25,055 shares during the period. Summit Global Investments’ holdings in Canadian Natural Resources were worth $1,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Canadian Natural Resources by 10.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer’s stock valued at $1,826,578,000 after acquiring an additional 3,397,500 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Canadian Natural Resources in the 1st quarter worth approximately $1,411,619,000. TD Waterhouse Canada Inc. grew its holdings in Canadian Natural Resources by 1.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 16,459,772 shares of the oil and gas producer’s stock valued at $784,278,000 after buying an additional 223,444 shares in the last quarter. Amundi grew its holdings in Canadian Natural Resources by 3.1% during the 2nd quarter. Amundi now owns 8,238,632 shares of the oil and gas producer’s stock valued at $325,426,000 after buying an additional 244,205 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Canadian Natural Resources by 26.7% in the first quarter. Swiss National Bank now owns 7,011,862 shares of the oil and gas producer’s stock worth $341,546,000 after buying an additional 1,475,500 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CNQ has been the topic of several research analyst reports. Weiss Ratings raised shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Desjardins upgraded Canadian Natural Resources to a “hold” rating in a report on Thursday, July 16th. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research note on Monday, October 19th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, October 9th. Finally, Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Canadian Natural Resources currently has an average rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock opened at $56.20 on Friday. The stock has a market cap of $115.49 billion, a price-to-earnings ratio of 13.88 and a beta of 0.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.75 and a current ratio of 1.00. The stock has a 50 day moving average price of $50.76 and a 200-day moving average price of $45.85. Canadian Natural Resources Limited has a one year low of $30.13 and a one year high of $56.27.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.15. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. The company had revenue of $14.74 billion for the quarter, compared to analyst estimates of $9.40 billion. Equities analysts expect that Canadian Natural Resources Limited will post 4.10 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were paid a dividend of C$0.62 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, September 11th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 44.44%.

Canadian Natural Resources Profile

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. Its portfolio includes conventional and unconventional petroleum assets, heavy crude oil operations, and oil sands projects that produce bitumen and synthetic crude oil.

The company’s principal operations are located in Western Canada, including oil sands and conventional assets in Alberta and natural gas properties in Alberta and British Columbia.