Navellier & Associates Inc. Makes New Investment in Canadian Natural Resources Limited $CNQ

Navellier & Associates Inc. acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 60,189 shares of the oil and gas producer’s stock, valued at approximately $2,377,000.

A number of other large investors have also made changes to their positions in CNQ. Capital Research Global Investors lifted its stake in shares of Canadian Natural Resources by 31.5% in 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 buying an additional 35,067,143 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Canadian Natural Resources during the first quarter valued at about $1,411,619,000. AQR Capital Management LLC increased its stake in Canadian Natural Resources by 11,020.4% during the fourth quarter. AQR Capital Management LLC now owns 3,680,735 shares of the oil and gas producer’s stock valued at $124,672,000 after acquiring an additional 3,647,636 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Canadian Natural Resources by 10.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer’s stock valued at $1,826,578,000 after acquiring an additional 3,397,500 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Canadian Natural Resources in the 2nd quarter valued at approximately $117,215,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 1.4%

Shares of CNQ opened at $49.07 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 company has a 50-day moving average price of $44.89 and a two-hundred day moving average price of $45.44. The stock has a market cap of $101.20 billion, a price-to-earnings ratio of 12.12 and a beta of 0.46. Canadian Natural Resources Limited has a 12 month low of $29.68 and a 12 month high of $51.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $14.74 billion for the quarter, compared to analyst estimates of $9.40 billion. Equities analysts predict that Canadian Natural Resources Limited will post 4.05 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $2.50 annualized dividend and a yield of 5.1%. Canadian Natural Resources’s payout ratio is currently 44.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CNQ. Desjardins upgraded Canadian Natural Resources to a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded Canadian Natural Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Friday, August 7th. 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, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus 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.