Ninepoint Partners LP Acquires New Shares in Canadian Natural Resources Limited $CNQ

Ninepoint Partners LP acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 375,807 shares of the oil and gas producer’s stock, valued at approximately $14,844,000. Canadian Natural Resources comprises about 1.1% of Ninepoint Partners LP’s holdings, making the stock its 15th biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of CNQ. Sunbelt Securities Inc. acquired a new position in shares of Canadian Natural Resources during the fourth quarter worth $25,000. Trust Co. of Vermont acquired a new stake in Canadian Natural Resources in the second quarter valued at $26,000. CX Institutional acquired a new stake in Canadian Natural Resources in the second quarter valued at $28,000. Manchester Capital Management LLC bought a new position in Canadian Natural Resources during the 4th quarter worth $28,000. Finally, Axiom Investment Management LLC bought a new position in Canadian Natural Resources during the 1st quarter worth $29,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

CNQ stock opened at $51.04 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. The firm has a market cap of $105.26 billion, a price-to-earnings ratio of 12.60 and a beta of 0.46. The company’s fifty day simple moving average is $44.02 and its 200 day simple moving average is $44.98. Canadian Natural Resources Limited has a 12-month low of $29.48 and a 12-month high of $51.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.15. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%.The firm had revenue of $14.74 billion during the quarter, compared to the consensus estimate of $9.40 billion. On average, analysts expect that Canadian Natural Resources Limited will post 4.05 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $2.50 annualized dividend and a yield of 4.9%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 44.69%.

Analyst Ratings Changes

CNQ has been the topic of a number of analyst reports. TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Wall Street Zen raised Canadian Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Desjardins raised shares of Canadian Natural Resources to a “hold” rating in a research report on Thursday, July 16th. Finally, Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

About Canadian Natural Resources

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.