Arrowstreet Capital Limited Partnership Purchases New Holdings in Canadian Natural Resources Limited $CNQ

Arrowstreet Capital Limited Partnership acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,956,345 shares of the oil and gas producer’s stock, valued at approximately $1,411,619,000. Canadian Natural Resources makes up about 0.8% of Arrowstreet Capital Limited Partnership’s portfolio, making the stock its 19th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors lifted its holdings in shares of Canadian Natural Resources by 31.5% during the fourth quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer’s stock valued at $4,956,204,000 after purchasing an additional 35,067,143 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Canadian Natural Resources by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 93,305,198 shares of the oil and gas producer’s stock worth $3,160,340,000 after purchasing an additional 818,809 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Canadian Natural Resources by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 42,745,981 shares of the oil and gas producer’s stock worth $1,446,951,000 after buying an additional 1,342,954 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Canadian Natural Resources by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 20,518,621 shares of the oil and gas producer’s stock worth $710,119,000 after buying an additional 1,347,844 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Canadian Natural Resources by 1.9% during the 4th quarter. JPMorgan Chase & Co. now owns 14,308,539 shares of the oil and gas producer’s stock valued at $484,344,000 after buying an additional 260,746 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 2.8%

CNQ stock opened at $47.07 on Friday. Canadian Natural Resources Limited has a 1-year low of $29.30 and a 1-year high of $51.34. The business has a fifty day moving average price of $43.99 and a 200-day moving average price of $43.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68. The stock has a market capitalization of $97.70 billion, a P/E ratio of 14.05 and a beta of 0.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.The company had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.57 billion. During the same period last year, the firm posted $1.16 earnings per share. Equities analysts forecast that Canadian Natural Resources Limited will post 3.89 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.625 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $2.50 annualized dividend and a yield of 5.3%. Canadian Natural Resources’s dividend payout ratio is currently 54.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Scotiabank raised Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Weiss Ratings downgraded Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. Finally, Desjardins upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources presently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.