Point72 Europe London LLP Increases Position in Canadian Natural Resources Limited (NYSE:CNQ)

Point72 Europe London LLP raised its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 324.1% during the second quarter, HoldingsChannel reports. The fund owned 509,444 shares of the oil and gas producer’s stock after buying an additional 389,330 shares during the period. Canadian Natural Resources comprises approximately 1.5% of Point72 Europe London LLP’s holdings, making the stock its 14th largest position. Point72 Europe London LLP’s holdings in Canadian Natural Resources were worth $18,138,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Park Place Capital Corp increased its stake in Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 358 shares in the last quarter. RFP Financial Group LLC lifted its stake in shares of 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 worth $25,000 after buying an additional 352 shares in the last quarter. Sugarloaf Wealth Management LLC grew its holdings in shares of 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 valued at $26,000 after buying an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Canadian Natural Resources by 91.6% during the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in 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 worth $31,000 after acquiring an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Analyst Ratings Changes

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

Canadian Natural Resources Stock Up 2.4 %

Shares of CNQ stock opened at $34.61 on Wednesday. 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. The stock has a market cap of $73.29 billion, a P/E ratio of 13.79 and a beta of 1.51. The company has a 50 day simple moving average of $34.69 and a two-hundred day simple moving average of $36.39.

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 for the quarter, beating the consensus estimate of $0.62 by $0.26. The company had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $6.19 billion. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. During the same period in the previous year, the business earned $0.43 earnings per share. On average, research analysts expect that Canadian Natural Resources Limited will post 2.47 earnings per share for the current year.

Canadian Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be paid a dividend of $0.384 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 4.44%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 62.15%.

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).