Cypress Capital Group Grows Position in Canadian Natural Resources Limited $CNQ

Cypress Capital Group lifted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 108,283 shares of the oil and gas producer’s stock after purchasing an additional 10,941 shares during the period. Cypress Capital Group’s holdings in Canadian Natural Resources were worth $5,277,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. TD Waterhouse Canada Inc. grew its holdings in Canadian Natural Resources by 4.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,758,445 shares of the oil and gas producer’s stock worth $228,729,000 after acquiring an additional 315,460 shares during the last quarter. Barometer Capital Management Inc. purchased a new position in shares of Canadian Natural Resources in the first quarter valued at about $6,198,000. WCM Investment Management LLC raised its stake in shares of Canadian Natural Resources by 22.4% during the first quarter. WCM Investment Management LLC now owns 5,122,209 shares of the oil and gas producer’s stock valued at $252,883,000 after acquiring an additional 938,210 shares during the last quarter. Novem Group bought a new position in shares of Canadian Natural Resources during the fourth quarter valued at about $1,270,000. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Canadian Natural Resources by 59.8% during the fourth quarter. Bleakley Financial Group LLC now owns 78,161 shares of the oil and gas producer’s stock worth $2,646,000 after purchasing an additional 29,249 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Trading Down 1.2%

NYSE:CNQ opened at $46.45 on Friday. The company has a 50-day moving average price of $43.96 and a 200-day moving average price of $43.20. Canadian Natural Resources Limited has a 12 month low of $29.30 and a 12 month high of $51.34. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The stock has a market cap of $96.40 billion, a price-to-earnings ratio of 13.86 and a beta of 0.47.

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

Canadian Natural Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd were issued a $0.625 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $2.50 annualized dividend and a yield of 5.4%. Canadian Natural Resources’s dividend payout ratio (DPR) is 54.03%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CNQ shares. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 7th. Desjardins raised Canadian Natural Resources to a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings cut Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Finally, Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. One research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources 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.