Ninepoint Partners LP Has $718,000 Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Ninepoint Partners LP reduced its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 98.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,953 shares of the oil and gas producer’s stock after selling 1,000,000 shares during the period. Ninepoint Partners LP’s holdings in Canadian Natural Resources were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in Canadian Natural Resources by 993.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 206,580 shares of the oil and gas producer’s stock worth $13,535,000 after purchasing an additional 187,694 shares during the last quarter. Cerity Partners LLC raised its holdings in Canadian Natural Resources by 556.7% in the 4th quarter. Cerity Partners LLC now owns 96,338 shares of the oil and gas producer’s stock valued at $6,312,000 after acquiring an additional 81,669 shares in the last quarter. Baskin Financial Services Inc. lifted its position in shares of Canadian Natural Resources by 3.5% during the 4th quarter. Baskin Financial Services Inc. now owns 464,287 shares of the oil and gas producer’s stock valued at $30,406,000 after acquiring an additional 15,546 shares during the period. Principal Financial Group Inc. lifted its position in shares of Canadian Natural Resources by 130.6% during the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the oil and gas producer’s stock valued at $10,292,000 after acquiring an additional 89,700 shares during the period. Finally, NewEdge Wealth LLC lifted its position in shares of Canadian Natural Resources by 10.8% during the 4th quarter. NewEdge Wealth LLC now owns 456,414 shares of the oil and gas producer’s stock valued at $29,904,000 after acquiring an additional 44,568 shares during the period. 74.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their target price on Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.00.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ traded up $0.12 during trading on Friday, reaching $76.95. 1,114,128 shares of the company traded hands, compared to its average volume of 3,291,085. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 0.25. Canadian Natural Resources Limited has a 52 week low of $52.66 and a 52 week high of $82.58. The firm has a market capitalization of $82.50 billion, a PE ratio of 13.95 and a beta of 1.54. The company’s 50 day moving average is $72.22 and its two-hundred day moving average is $67.15.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.13. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. The company had revenue of $7.02 billion during the quarter, compared to analysts’ expectations of $6.73 billion. As a group, sell-side analysts predict that Canadian Natural Resources Limited will post 5.7 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.774 dividend. This represents a $3.10 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Thursday, March 14th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. Canadian Natural Resources’s dividend payout ratio is presently 53.25%.

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).