Schonfeld Strategic Advisors LLC Makes New Investment in Canadian Natural Resources Ltd (NYSE:CNQ)

Schonfeld Strategic Advisors LLC purchased a new position in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 704,889 shares of the oil and gas producer’s stock, valued at approximately $12,282,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC acquired a new stake in Canadian Natural Resources in the 2nd quarter worth $40,000. Harbor Investment Advisory LLC grew its position in Canadian Natural Resources by 124.3% in the 2nd quarter. Harbor Investment Advisory LLC now owns 3,544 shares of the oil and gas producer’s stock worth $62,000 after purchasing an additional 1,964 shares during the last quarter. Glenmede Trust Co. NA grew its position in Canadian Natural Resources by 212.0% in the 2nd quarter. Glenmede Trust Co. NA now owns 5,601 shares of the oil and gas producer’s stock worth $97,000 after purchasing an additional 3,806 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in Canadian Natural Resources in the 2nd quarter worth $98,000. Finally, Advisor Group Holdings Inc. acquired a new stake in Canadian Natural Resources in the 1st quarter worth $134,000. Institutional investors own 66.96% of the company’s stock.

Several analysts have issued reports on the stock. Tudor Pickering restated a “buy” rating and issued a $29.00 price target on shares of Canadian Natural Resources in a research report on Friday, August 7th. UBS Group lifted their target price on shares of Canadian Natural Resources from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Wells Fargo & Company lifted their target price on shares of Canadian Natural Resources from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Friday, May 29th. Morgan Stanley upgraded shares of Canadian Natural Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $24.00 to $32.00 in a research report on Wednesday, July 8th. Finally, Barclays started coverage on shares of Canadian Natural Resources in a research report on Wednesday, September 2nd. They set an “overweight” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. Canadian Natural Resources presently has a consensus rating of “Buy” and an average target price of $34.44.

CNQ stock traded up $0.69 during trading on Wednesday, hitting $18.53. 10,525,368 shares of the stock traded hands, compared to its average volume of 4,544,032. Canadian Natural Resources Ltd has a one year low of $6.71 and a one year high of $32.79. The stock has a market cap of $21.88 billion, a price-to-earnings ratio of 463.75 and a beta of 1.73. The company has a 50 day simple moving average of $19.33 and a 200 day simple moving average of $17.23. The company has a current ratio of 0.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.09). Canadian Natural Resources had a net margin of 0.33% and a return on equity of 1.56%. During the same quarter in the prior year, the company earned $0.87 EPS. As a group, analysts predict that Canadian Natural Resources Ltd will post -0.58 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Friday, September 18th will be paid a $0.318 dividend. The ex-dividend date is Thursday, September 17th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.30. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.86%. Canadian Natural Resources’s payout ratio is currently 54.19%.

Canadian Natural Resources Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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