Healthcare of Ontario Pension Plan Trust Fund Boosts Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Healthcare of Ontario Pension Plan Trust Fund lifted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 123.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,920,000 shares of the oil and gas producer’s stock after buying an additional 4,920,000 shares during the quarter. Canadian Natural Resources makes up approximately 0.9% of Healthcare of Ontario Pension Plan Trust Fund’s portfolio, making the stock its 23rd biggest holding. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.42% of Canadian Natural Resources worth $317,766,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bruce G. Allen Investments LLC raised its holdings in Canadian Natural Resources by 117.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 245 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in Canadian Natural Resources in the 1st quarter worth approximately $37,000. LifeSteps Financial Inc. purchased a new stake in shares of Canadian Natural Resources during the 1st quarter valued at about $46,000. RFP Financial Group LLC increased its stake in shares of 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 worth $25,000 after purchasing an additional 352 shares in the last quarter. Finally, Park Place Capital Corp raised its stake in Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 358 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Wolfe Research initiated coverage on shares of Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Scotiabank reissued a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $49.50.

Canadian Natural Resources Price Performance

NYSE:CNQ opened at $34.79 on Wednesday. The firm’s fifty day moving average is $34.51 and its two-hundred day moving average is $36.29. The firm has a market cap of $74.02 billion, a price-to-earnings ratio of 13.86 and a beta of 1.51. Canadian Natural Resources Limited has a one year low of $29.45 and a one year high of $41.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.26. The business had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $6.19 billion. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. During the same quarter last year, the firm earned $0.43 EPS. Research analysts expect that Canadian Natural Resources Limited will post 2.47 EPS for the current year.

Canadian Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a $0.384 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 annualized dividend and a yield of 4.42%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 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).