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

Public Sector Pension Investment Board increased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 88.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 290,342 shares of the oil and gas producer’s stock after buying an additional 136,617 shares during the period. Public Sector Pension Investment Board’s holdings in Canadian Natural Resources were worth $10,340,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CNQ. SCP Investment LP purchased a new position in Canadian Natural Resources in the 4th quarter worth about $425,000. Principal Securities Inc. purchased a new position in Canadian Natural Resources in the 4th quarter worth about $35,000. PNC Financial Services Group Inc. increased its stake in Canadian Natural Resources by 137.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 39,418 shares of the oil and gas producer’s stock worth $2,583,000 after buying an additional 22,839 shares during the period. Coldstream Capital Management Inc. purchased a new position in Canadian Natural Resources in the 4th quarter worth about $252,000. Finally, D.A. Davidson & CO. increased its stake in Canadian Natural Resources by 55.4% in the 4th quarter. D.A. Davidson & CO. now owns 7,381 shares of the oil and gas producer’s stock worth $484,000 after buying an additional 2,631 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Stock Up 1.2 %

NYSE:CNQ opened at $33.80 on Tuesday. 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 market capitalization of $71.92 billion, a P/E ratio of 13.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88. The company’s 50-day simple moving average is $34.72 and its 200-day simple moving average is $36.40.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $6.19 billion. During the same period last year, the business earned $0.43 EPS. On average, equities 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 business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be paid a $0.384 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) 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).