Canadian Natural Resources Limited (NYSE:CNQ) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 16.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,437,796 shares of the oil and gas producer’s stock after purchasing an additional 203,096 shares during the period. Renaissance Technologies LLC owned about 0.07% of Canadian Natural Resources worth $51,186,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Bruce G. Allen Investments LLC increased its stake in Canadian Natural Resources by 117.8% during the 1st quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 245 shares during the period. YHB Investment Advisors Inc. acquired a new stake in shares of Canadian Natural Resources in the first quarter valued at $37,000. Principal Securities Inc. purchased a new position in Canadian Natural Resources in the fourth quarter valued at $35,000. LifeSteps Financial Inc. purchased a new stake in Canadian Natural Resources during the 1st quarter worth about $46,000. Finally, RFP Financial Group LLC raised its position in Canadian Natural Resources by 98.3% in the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 352 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CNQ. Wolfe Research started coverage on Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Raymond James upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Tuesday, May 28th. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Finally, StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $49.50.

Canadian Natural Resources Stock Up 1.6 %

Shares of NYSE:CNQ opened at $32.85 on Wednesday. The firm has a 50 day simple moving average of $34.95 and a 200-day simple moving average of $36.46. Canadian Natural Resources Limited has a twelve month low of $29.45 and a twelve month high of $41.29. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $69.90 billion, a PE ratio of 13.09 and a beta of 1.51.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The company had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. On average, equities analysts predict that Canadian Natural Resources Limited will post 2.49 EPS for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be paid a $0.384 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio is currently 61.75%.

About Canadian Natural Resources

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).