Acadian Asset Management LLC Purchases 96,766 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Acadian Asset Management LLC grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2,250.4% 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 101,066 shares of the oil and gas producer’s stock after purchasing an additional 96,766 shares during the quarter. Acadian Asset Management LLC’s holdings in Canadian Natural Resources were worth $3,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Letko Brosseau & Associates Inc. boosted its holdings in Canadian Natural Resources by 84.8% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 1,830,240 shares of the oil and gas producer’s stock worth $65,179,000 after buying an additional 839,673 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of Canadian Natural Resources by 91.3% in the second quarter. Sivia Capital Partners LLC now owns 8,573 shares of the oil and gas producer’s stock worth $305,000 after acquiring an additional 4,092 shares during the period. Advisor OS LLC grew its position in shares of Canadian Natural Resources by 92.3% during the second quarter. Advisor OS LLC now owns 6,885 shares of the oil and gas producer’s stock worth $245,000 after purchasing an additional 3,304 shares in the last quarter. Candriam S.C.A. raised its stake in Canadian Natural Resources by 100.0% during the 2nd quarter. Candriam S.C.A. now owns 7,886 shares of the oil and gas producer’s stock valued at $281,000 after purchasing an additional 3,943 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in Canadian Natural Resources by 136.3% in the 2nd quarter. Private Advisor Group LLC now owns 20,474 shares of the oil and gas producer’s stock worth $729,000 after purchasing an additional 11,808 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $32.63 on Friday. 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 firm’s fifty day moving average is $35.15 and its 200 day moving average is $36.46. The company has a market cap of $69.43 billion, a price-to-earnings ratio of 13.00 and a beta of 1.51.

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

Canadian Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a dividend of $0.384 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 annualized dividend and a yield of 4.71%. Canadian Natural Resources’s payout ratio is 60.56%.

Analysts Set New Price Targets

CNQ has been the subject of a number of research analyst reports. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. Wolfe Research began coverage on shares of Canadian Natural Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Raymond James raised shares of Canadian Natural Resources to a “hold” rating in a report on Tuesday, May 28th. Finally, StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $49.50.

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).