Lighthouse Investment Partners LLC Makes New $890,000 Investment in Canadian Natural Resources Limited (NYSE:CNQ)

Lighthouse Investment Partners LLC bought a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 25,000 shares of the oil and gas producer’s stock, valued at approximately $890,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Park Place Capital Corp grew its stake in Canadian Natural Resources by 100.0% in the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 358 shares in the last quarter. RFP Financial Group LLC boosted its holdings 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 acquiring an additional 352 shares during the period. Sugarloaf Wealth Management LLC grew its position in shares of Canadian Natural Resources by 100.0% in the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Canadian Natural Resources by 91.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 415 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Canadian Natural Resources by 104.7% during the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 447 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $33.21 on Friday. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month 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 stock has a market cap of $70.67 billion, a P/E ratio of 13.23 and a beta of 1.51. The business’s 50-day moving average price is $34.55 and its two-hundred day moving average price is $36.33.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced 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 net margin of 18.05% and a return on equity of 22.09%. The business had revenue of $7.76 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period in the previous year, the business posted $0.43 earnings per share. As a group, equities analysts predict that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.384 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio is currently 61.75%.

Analyst Upgrades and Downgrades

CNQ has been the topic of several analyst reports. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Wolfe Research initiated coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Hold” and an average price target of $49.50.

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).